The CBRE Strategic Partners U.S. Value 8 fund has acquired 2100 Powell in Emeryville, Calif., a 16-story, 346,025-square-foot best-in-class waterfront office tower with a four-level parking garage. The LEED Gold-certified building is 98 percent leased.
As one of the top office towers in Emeryville, 2100 Powell is well-located along the East Bay waterfront with easy access to the I-80 freeway and offers panoramic views of the Oakland and San Francisco skylines and the San Francisco Bay. The property is served by the Emery Go-Round shuttle, providing express service to the MacArthur BART station, as well as a variety of Emeryville restaurant and retail amenities.
As active real estate operators, the team plans to implement CBRE Global Investors’ proprietary 5-Star Worldwide concierge program to create a connected, experience-rich environment. Elements of the program include offering not only dynamic physical space, but also offering intuitive hospitality and technology to help tenants save time, boost productivity and increase engagement with the property. The team will update tenant common areas and enhance tenant service by adding a bike rental program and ZipCar parking to make access to nearby Emeryville retail amenities more efficient.
“With its robust economic growth and a lower overall cost of living compared to San Francisco, the Oakland metro is a focus market for this fund,” said Robert Perry, head of the CBRE Strategic Partners U.S. fund series. “And with its concentration of high-quality office space, plentiful retail and residential amenities, the Emeryville submarket is considered one of the Bay Area’s premier addresses for technology, healthcare, life science, and professional service tenants.”
