Economic Development Forum: Oakland Sears Building

The Sears Building is a 400,000 SF building that was originally constructed as the Capwell’s Department Store in 1925.  It is located in Oakland, CA and bound by Broadway, Telegraph and 20^th Streets.  The building sits directly above the 19^th Street BART Station.  The building sustained significant damage in the 1989 Loma Prieta Earthquake.  The subsequent structural retrofit involved covering over 70% of the building with shotcrete and enclosing the majority of the windows.  Lane Partners purchased the building in June 2014 for $24.3m ($61/SF), with plans of doing a full renovation of the building that would include re-opening all of the windows, re-skinning the façade and cutting in a 5,600 SF light well into the core.  The renovated building will contain 350,000 SF of creative office space along with 50,000 SF of retail.  The project has since been renamed Uptown Station.

Presenter:
Andrew Haydel
Principal, Lane Partners, LLC