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East Bay Center Trades to PCCP

PCCP just bought Alameda Center, a four-building, 155k SF office park in Alameda. Located at 2430 to 2490 Mariner Square Loop, the two, two-story and two, one-story buildings were constructed between 1990 and 1998. At the close of escrow, the property was 89% occupied by 11 tenants. One of its biggest tenants is vacating later this year, so the new owner will do an aggressive leasing and repositioning campaign. Immediate capital improvements include lunch tables and an outdoor amenity area, as well as improving signage, repainting common corridors and renovating bathroom areas. The price was undisclosed.

Related Topics: PCCP, alameda center