SAN FRANCISCO (November 19, 2015) – TMG Partners, one of the San Francisco Bay Area’s largest mixed-use property developers, today announced their purchase of 1330 Broadway in Oakland. TMG purchased the property from Zimmerman Investments. 1330 Broadway is an 18-story, 300,000 square-foot building with immediate access to BART at Oakland City Center's 12th Street Station. The building was built in the International Style of architecture, a modernist movement that is also represented by the iconic design of One Bush St. in San Francisco and Lever House in New York City.
TMG will conduct a major renovation of the building interior, including a new main lobby and entrance, new common area finishes, and major elevator and building systems modernization. Additional upgrades to the property include amenities such as enhanced bike parking, conference facilities, creation of an art program, and a new retail tenant to add to the extensive food and cafe culture in the burgeoning City Center submarket. “TMG looks forward to the opportunity to restore and modernize this architectural gem. We believe that the amenities, views, and planned renovation will make this one of the top choices for office tenants in Oakland”, said TMG partner and development manager Adam Chall.
“TMG has been active in several cities in the East Bay, including Oakland, for decades and we look forward to restoring this important part of Oakland’s history as a home for local companies and culture,” said Michael Covarrubias, chairman and CEO, TMG Partners.
John Dolby and Dane Hooks of Cushman and Wakefield represented both parties in the transaction.
About TMG Partners
TMG Partners, founded in 1984 and headquartered in San Francisco, is a full-service real estate development and management company. TMG has developed more than 25 million square feet of property throughout the San Francisco Bay Area, including Emeryville, Marin City, Novato, Palo Alto, San Bruno, San Jose and San Francisco. One of the most active developers in this area, the company has developed a variety of office, retail, residential and industrial properties, ranging from office campus and multi-story properties in urban, infill locations to mixed-use retail and single-story suburban buildings. For detailed information, visit: www.tmgpartners.com
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