Identify and purchase under valued real estate at below replacement cost.
Transform and manage real estate into income producing assets for appreciation.
Achieve the highest return for investors & both short and long term.
WHAT SETS US APART FROM OTHER REAL ESTATE INVESTMENT OPPORTUNITIES
Emphasis on both short and long term profits.
Primary investment in mixed-use multi-family and senior housing.
Use of options to entitle large parcels of land.
After a nearly 12-year effort, city councilmembers, neighbors,
and various stakeholders gathered at East Oakland's Seminary Point yesterday to
welcome the addition of a new 27,000-square-foot commercial retail plaza.
Billed as the city's newest retail center and anchored by a 14,250-square-foot
Wallgreens, the new center fills a gap for neighbors who previously had to venture
outsidethe area for goods and services.
“We’re talking about a historically neglected neighborhood in which residents don’t
have places to get aspirin, children’s diapers or pharmacy services,
” Councilmember Rebecca Kaplan told the Chronicle in 2015. “You have people
who don’t have cars who have to travel far to get to the nearest pharmacy.”
The development, located on the corner of Foothill Boulevard and Seminary Avenue, is the first project to be built in the area in nearly 30 years, according to the SF Business Times.
Six of the eight retail spaces are still up for grabs, according to the Economic and Workforce Development Department. It's A Grind Coffee House and Metro PCS have already signed leases and are currently building out their respective spaces.
The remaining six spots will "bring a complementary mix of retailers when fully leased," according to the Department. Subway sandwich chain is also said to be looking at one vacancy.
San Francisco Business Times
Seminary Point shopping center brings jobs, retail to East Oakland
The project is comprised of eleven
separate parcels, which took several
years to acquire. City officials collaborated
with neighbors and area businesses to
establish a desired mix of use and retail
“These types of tenants we can attract here
are not what we can attract, let’s say, in
downtown Oakland or downtownSan Francisco
or Walnut CreeK” said city program manager
Larry Gallegos, noting difficulties to revitalize
the neighborhood in recent years.
“You still have the same type of construction
costs as we do here, but over there they can
at least attract higher on the actual leases.”
After requesting proposals for the site,
the city chose Sunfield Development LLC to develop the commercial center through a 66-year ground lease in order to retain ownership of the land.
Sunfied Development CEO Sid Afshar said that 125 construction jobs and 54 permanent positions will be created due to the project, along with "millions in property and sales tax revenue for Oakland."
Oakland spent nearly $5 million on land assembly, demolition, hazardous materials removal and soil remediation, according to the Department. Additionally, the city provided a $2 million loan and $1.5 million line of credit with former redevelopment agency bond funds.
“It’s hard to say whether it’s a renters’ market,” said Gallegos, since East Oakland “hasn’t seen too much retail activity in years.”