Alameda County will soon auction off a nearly 200,000-square-foot office complex once slated to house county workers near Oakland’s Coliseum.
The county Board of Supervisors voted to sell the Arena Center at 6775, 7001 and 7195 Oakport Street to the highest bidder at an October auction, the San Francisco Business Times reported.
The county set a minimum bid for the 192,900-square-foot property on nearly 11 acres just east of the Coliseum at $40 million, or $207 per square foot.
It bought the three-building office campus in 2014 for $32.5 million, then revamped it for at least $6.5 million more. It later scrapped plans to move up to three county departments into Arena Center.
The Arena Center, built in 2001, includes a 94,100-square-foot, three-story building at 6775 Oakport; a 60,700-square-foot, two-story building at 7001 Oakport; and a 38,000-square-foot single-story building with a mezzanine at 7195 Oakport, according to The Ivy Group.
The county began planning to sell the property through the Surplus Lands Act in 2019. It hired CBRE to market the office complex until early June of next year.
A decade ago, Oakland wanted to redevelop 800 acres surrounding the Oakland Coliseum into a corridor of hotels, tech offices and sporting arenas — making Arena Center prime real estate, according to the Business Times.
But with the Raiders’ exit to Las Vegas in 2020 and the A’s likely departure, it’s not clear what will be redeveloped or how they would affect the sale of county property.
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Alameda County will accept written bids for the property by 4:30 p.m. Oct. 5. A live auction, at which oral bidders will be permitted to submit offers at least 5 percent higher than the highest received written bid, will take place on Oct. 10.
Another county-orchestrated auction slated for July 10 for the Oakland Raiders’ former headquarters and training facility at 1150 Harbor Bay Parkway in Alameda, was postponed this week, according to The Real Deal. The 17-acre site drew 65 potential bidders, with a starting bid of $35.8 million.
— Dana Bartholomew