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Felton Institute Purchases 40,000 Square Foot Office In Oakland From Amarok Capital For $6.8M

Property Image
SOLD
$6,800,000

California

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Office40,000 SF
Sold 09/06/2024
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Property Image
SOLD

Felton Institute Purchases 40,000 Square Foot Office In Oakland From Amarok Capital For $6.8M

401 Grand Avenue

See Similar Deals
Office40,000 SF
Sold 09/06/2024
the dealdetailscomps

Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$170
Total Square Footage:40,000 SF
Transaction Type:Sale

Amarok Capital sold a 40,000-square-foot office at 401 Grand Avenue in Oakland for $6.8 million. The sale price represents a decline from its 2016 purchase price of $8.3 million, highlighting a trend in the Oakland office market.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $6,800,000
  • Address: 401 Grand Avenue
  • Market: Oakland
  • Square Footage: 40,000
  • Price Per Square Foot: $170
  • Buyer: Al Gilbert - Felton Institute
  • Seller: Amarok Capital

Al Gilbert represented Felton Institute in the transaction while Amarok Capital executed the sale of the office property, reflecting changing dynamics within Oakland's commercial real estate market.

Details

SOLD
IMAGE: Al Gilbert DATE: 09/06/2024 ADDRESS: 401 Grand Avenue MARKET: Oakland ASSET TYPE: Office BUYER: Al Gilbert - Felton Institute SELLER: Amarok Capital SALE PRICE: $6,800,000 SF: 40,000 ~ PPSF: $170 NOTE: Amarok Capital sold a 40,000-square-foot office at 401 Grand Avenue in Uptown Oakland to Felton Institute for $6.8 million, a 20% drop from its 2016 purchase price of $8.3 million. The deal reflects broader price declines in Oakland’s office market, where vacancy rates reached 31.8% in Q2, mirroring San Francisco's post-pandemic reset.

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