properties

California: Center Street Parcels – Berkeley
2041-2055 & 2061-2065 Center Street

Gross Building Size: 25,000 sq. ft.

This purchase of four contiguous office buildings located in the heart of downtown Berkeley, California was sourced as a single transaction by Seagate. Seagate was attracted to the opportunities presented by the below-market income stream combined with an attractive intrinsic price. As with other recent acquisitions, the Berkeley Promenade, 2030-2040 Addison and the Wells Fargo Building, the close proximity to BART and the University of California also weighed favorably in our decision to pursue this property. Long term plans call for the potential redevelopment of the 25,000 square foot site into a higher and better use.

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