đź“Ť Oakland Office Property Changes Hands; Metro Services Signs On as Anchor Tenant
Colliers has completed the sale of a historic office and retail property located at 570 10th Street / 1007 Clay Street in Downtown Oakland. Originally built in 1903 and formerly home to a Levi Strauss operation, the building offers a blend of early 20th-century architecture and mixed-use functionality.
Ben Harrison, Senior Vice President at Colliers, represented the seller, Redwood Property Investors, in the transaction. The buyer, 10Clay570 LLC, was represented by Chris Baker of Cushman & Wakefield.
Metro Services Group, a longstanding Oakland-based facilities consulting and service provider, will serve as the anchor tenant for the newly acquired property.
“This transaction reflects the premium we’re seeing in today’s market for well-located, character-rich buildings when purchased by owner-users,” said Harrison. “Even as the Oakland office market navigates headwinds, steady interest from healthcare, legal, financial, and retail users highlights the resilience of well-positioned mixed-use assets like this one. Users can take advantage of this low point in the real estate cycle to lock in facility costs and hedge against higher future lease rates.”
The sale underscores continued interest in transformative office assets in core urban areas, particularly from owner-users seeking long-term real estate strategies.
