TMG Partners has acquired 300 Lakeside, a high-rise office building in Oakland, Calif.
Concurrent with the acquisition of 300 Lakeside, TMG entered into a long-term lease with Pacific Gas & Electric Co. (PG&E) to relocate the utility’s headquarters from its existing downtown San Francisco headquarters location. The lease includes a purchase option for PG&E to acquire the property from TMG Partners. The sellers, a joint venture of The Swig Co. and Rockpoint Group, will also be investors in the TMG ownership entity.
“The purchase of 300 Lakeside by TMG Partners is good news for the vitality of downtown Oakland, and particularly while our city begins to rebuild from the economic downturn caused by the pandemic,” Mayor Libby Schaaf said. “We welcome PG&E and their employees to our community and look forward to sharing our Oakland values with our new neighbors. We also look forward to working with TMG Partners as they realize the long-term potential
