May 24, 2022

Argosy Real Estate Partners Exits Eastmont Town Center in Oakland, CA

On May 5, 2022, Argosy Real Estate Partners, in partnership with Vertical Ventures sold the office portion of Eastmont Town Center.

The partnership acquired the 518,460 sf, Class-B office property located in Oakland, California in March 2015. The property was originally constructed as an enclosed shopping mall and was redeveloped into a mixed-use project containing office space within the interior mall area, as well as 116,500 sf of exterior-facing retail (not included in the partnership’s investment).

During its ownership, the partnership made substantial capital improvements including infrastructure upgrades, tenant improvements and installation of solar roof panels and LED lighting equipment which increased the property’s energy efficiency. During its ownership, the partnership completed significant lease renewals and expansions with a number of the property’s major credit tenants who fulfill critical missions for the surrounding community, including Alameda Health System, Alameda County agencies, the Oakland Police Department, and the Oakland Public Library.