Subjects: JVN, RLE
SKB acquired a 14 acre portfolio consisting of the American Steel Block and Peralta Street Building in West Oakland, California
PORTLAND, Ore., Sept. 22, 2021 /PRNewswire/ -- ScanlanKemperBard (SKB) has announced a joint venture with an existing capital partner, to acquire 1960 ? 2030 Mandela Parkway and 2401 Peralta St. in Oakland, CA, a 439,368 rentable square foot urban industrial portfolio located in the largest city in the East Bay and the geographic center of the San Francisco Bay Area.
With West Oakland quickly becoming one of the Bay Area's leading manufacturing, bioengineering and research locations, SKB plans to reposition the manufacturing facility into a multi-tenant industrial campus, catering to a diverse set of users. As the line between software, science and manufacturing operations converge, these dynamic advanced manufacturing and flex-tech users are reconfiguring their operations and real estate requirements to accommodate both the engineering talent and the equipment that produces their products.
Current tenants at the American Steel Portfolio span industries such as bio-engineering, drones, medical devices, advanced manufacturing, and space/satellite communications. SKB looks to further attract tenants focused in these segments through an intensive capital improvement program, which will transform the property into a Class A Manufacturing and R&D Campus.
According to SKB President, Todd Gooding, "The American Steel Block represents our 9th Urban Industrial investment encompassing over 2.5 million SF that caters to Advanced Manufacturing tenants. This asset class has been our best performer in our portfolio during Covid."
SKB Senior Vice President, Gregory M. Scharlemann, added, "This is an exciting redevelopment opportunity for SKB and the Oakland market. We're already seeing strong interest from advanced manufacturing and R&D users during a short marketing period, reaffirming the demand and need for space like this in the Bay Area."
About ScanlanKemperBard
SKB is an established real estate developer and operator based in Portland, Oregon. Since its inception in 1993, SKB has originated total portfolio activity of $4.7 billion, comprised of 30.6 million square feet of office, industrial and retail space and 2,154 residential units. With longstanding relationships in each of its markets, SKB has the ability to source, structure and execute value creation across a wide spectrum of real estate opportunities. Visit SKB online at www.skbcos.com to learn more.
MEDIA CONTACTS
Todd Gooding
503-201-6800
SOURCE SKB
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