Embarcadero Capital Partners retained Cushman & Wakefield to lease up its 519 Uptown property in Oakland. Cushman & Wakefield executive director John Dolby, managing director Dane Hooks and associate Charlie Sweeney will lead the assignment.
The REIT acquired the 55k SF seven-story property last November. The property was the firm's first Oakland office purchase and was acquired for its fifth value-add real estate fund. Embarcadero Capital Partners will transform the building into a creative workplace with a contemporary building façade, lobby and light-filled open-floor layouts. Upper floors will have panoramic views of Oakland and the surrounding hills.
“We see a tremendous opportunity to revitalize this asset,” said Andrew Brown, Embarcadero Capital Partners director of leasing. “It has an incredible Uptown location and is the ideal workplace for tenants that want proximity to public transit and Oakland’s flourishing Uptown and City Center districts.”
The building is close to BART, restaurants and cultural amenities such as the Fox Theater, Brown said. The property was originally constructed in 1928 as the Dufwin Theater and later functioned as the Roxie movie house. The building was converted into an office in the 1980s. It features an Art Deco-style façade and offers flexible floor plates that can accommodate large and small tenants.
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