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11 West Partners just bought Oakland’s American Steel Studios for $29M from owner Maurice Kanbar. The developers said they will make improvements to the warehouse, which is used by local artists, but they plan to keep the 200 artist tenants and maintain the facility as a creative hub.
This recent purchase is part of 11 West Partners’ strategy to establish itself as a player within Oakland, 11 West Partners partner Gerris Wilkinson told the San Francisco Chronicle. Along with partners Adam Goldberg and Erwin Gonzalez, the firm also bought a large office and retail site in Old Oakland last year. [SFC]
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