Alameda County Punts On Former Oakland Raiders Training Facility
Two years after the National Football League's Raiders bid the city of Oakland farewell in a move to Las Vegas, Oakland's local government, along with Alameda County, want to hand off the team’s former headquarters to a new owner.
The Alameda County Board of Supervisors agreed last month to hold a public auction for the 100K SF site that would also include a nearby 18K SF training facility, at a minimum bid of $35.8M, according to the San Francisco Business Times.
The properties are located at 1150-1220 Harbor Bay Parkway in Alameda. Interested bidders have until June 30, 2023, to bid. Proceeds from the sale will go to the county’s surplus property development trust. The chosen buyer will be required to submit a $350K deposit by July 5.
The property is zoned for manufacturing, according to the SFBT, and it could attract life sciences users, for whom available lab space is increasingly difficult to come by.
CBRE’s Q3 report on the East Bay life sciences market indicates that while the market is still strong, there has been some slowdown.
The overall East Bay vacancy rate increased to 7.4%, with the San Francisco Peninsula remaining one of the strongest submarkets for the segment. Net absorption for Q3 turned negative, but year-to-date absorption remained positive, at just under 490K SF. Oakland’s vacancy rate clocked in at 5.7% for the quarter.
