Raiders Oakland HQ's Fate Decided In $24M Sale To Redco Development
The sale of the former Raiders headquarters in Alameda, California, is complete after years of wrangling, with locally based Redco Development purchasing the property at 1150-1220 Harbor Bay Parkway for $24M.
The fate of the 16.9-acre facility, which includes 100K SF of office space and an 18K SF training center, has been unknown since it was first put up for auction in 2022. The Oakland Roots and Soul Sports club signed a 15-year lease, brokered by Colliers, cementing the facility as the soccer club’s permanent home.
Alameda County acquired the property after the NFL’s Raiders departed for Las Vegas in 2020.
The Redco deal had been a long time coming, since the city of Oakland and Alameda County failed to find a buyer in an auction in 2023. Prologis emerged as a potential buyer in January 2024, but the developer walked away from that deal in December.
Selling former major league sports facilities in the Oakland area has become common as teams have left the area in recent years. The deals tend to be fraught, however, as groups try to come together to execute deals for the unconventional properties.
The sale of Oakland Coliseum, the former home of the MLB’s Athletics, suffered its latest setback in March.
The sales are in some cases key to redevelopment projects or investment that could drive a renaissance in Oakland and its surrounding areas.
Oakland as a whole has struggled to recover from the pandemic, but pockets of the city are seeing traction. Uptown Oakland is among them, with healthier vacancy rates and higher foot traffic and business demand than other areas.
