Singapore-based Mapletree Investments is said to be in talks to acquire The Uptown Station office building in Oakland, according to media outlets. The sales price is estimated to be $420 million.
At one point, the 396,808-square-foot office property was to be the headquarters for ride-sharing firm Uber. In early 2020, Blackstone was in talks to buy the property, but the deal fell through.
The vacancy rate in the East Bay Oakland office market was 15.7 percent at the end of the year, up 150 basis points from the previous quarter and up a substantial 540 basis points from this time last year, according to Cushman & Wakefield in its fourth quarter report. While new construction and renovation projects accounted for some of this increase,
