Hackman Capital Partners Purchases Emeryville, California, Commercial Building
According to company officials, the recent purchase includes a 25,138-square-foot building and off-street parking lot.
According to Matt Landstrom, Vice President of Acquisitions for Hackman Capital, the building, which is available for lease, features hard-to-find storage and distribution space, dock-high loading, large windows and skylights, plus a wooden bow truss roof. Leveraging those features, Hackman Capital intends to implement a capital program to renovate the building, which could include improvements for lab-related and office uses.
The purchase follows on the heels of the company's acquisition of a five-building portfolio, known as Emeryville Exchange, in June. Five of the now six buildings, including the recent purchase, are situated in Jelly Bean Square, which takes its name from the largest building's roots as the former Jelly Belly distribution center. The sixth building, called the Thoroughbred Building, is located approximately 10 blocks south of the square at 1250 53rd Street.
"We're thrilled to be expanding our presence in this dynamic East Bay market," said Matt Landstrom, Vice President of Acquisitions for Hackman Capital. "With high demand and limited supply, Emeryville is quickly growing and evolving.”
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