Office Tower in Oakland’s City Center Changes Hands

OAKLAND, CALIF. — An unnamed buyer has purchased a 521,177-square-foot office tower in Oakland’s City Center mixed-use development for an undisclosed sum. The 24-story tower is located at 1221 City Center, at the intersection of 12th Street and Broadway.

The tower’s lobby and common areas have recently undergone a $21.5 million renovation. The property also enjoys immediate access to the Bay Area Rapid Transit (BART). The space is now 98 percent occupied.

The seller was a joint venture between American Realty Advisors and Westcore Properties. Eastdil Secured represented the joint venture in the sale.