East Bay Meditation Center Acquires Retail Property In Oakland For $3M

An approved Downtown Oakland office building site at 2406 Webster Street has been sold by Signature Development Group to the East Bay Meditation Center for $3 million. The property spans 0.2 acres and offers a total of 8,400 square feet of retail space. The transaction took place in Oakland's market.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $3,000,000
• Address: 2406 Webster Street
• Market: Oakland
• Acres: 0.2

The buyer, who acquired the property, is the East Bay Meditation Center represented by Anjali Sawhney. Meanwhile, the seller, Signature Development Group, was represented by Michael Ghielmetti. This sale comes as a result of high office vacancies in the area due to the ongoing pandemic. In light of the situation, Signature Development Group has also decided to halt their plans for new office construction.