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Old 08-25-2010, 02:55 PM
 
3,098 posts, read 3,784,958 times
Reputation: 2580

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actually if you own the building or acquired it at signifigant discount(as in this case) revovations can be worthwile .as many home owners have lost equity or jobs the contracting business has collapsed ,they are all trying to underbid just to get some work going.
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Old 08-25-2010, 03:27 PM
 
Location: Mission Viejo, CA / San Rafael, CA
2,352 posts, read 5,253,010 times
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That is only true if you can get people to lease space, which even in prime locations like S.F and most of Silicon Valley, vacancy rates remain high. Oakland is bottom of the barrel when it comes to attracting private investment.

Even if you pay 40% under market for a building, and you can't lease the space, then you still lost money.
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Old 08-26-2010, 02:10 AM
 
Location: Oakland, CA
28,226 posts, read 36,871,835 times
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The section of Broadway this building is in is very popular for offices. And the high rise office spaces are doing pretty well. Retail has been more challenging on the Broadway corridor. Compounding the issues is the abundance of huge ground floor spaces (former department stores and the like.) There have been quite a few high profile openings in the neighborhood, and new apartments that are doing pretty well. This was a good buy, the office market does pretty well over there, and the number of residents is increasing regularly.

I'm looking forward to Awaken cafe joining the neighborhood.
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Old 08-26-2010, 10:24 AM
 
386 posts, read 797,465 times
Reputation: 195
Don't know if anyone saw this:

Polishing Oakland's Crown Jewel: Lake Merritt Reborn | QUEST Community Science Blog - KQED
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Old 08-26-2010, 12:04 PM
 
Location: Los Altos Hills, CA
36,658 posts, read 67,519,268 times
Reputation: 21239
Quote:
Originally Posted by Mr. Fantastic View Post
That is only true if you can get people to lease space, which even in prime locations like S.F and most of Silicon Valley, vacancy rates remain high.
This is yet another example of your SoCal ignorance of the Bay Area getting you in trouble. LOL

Actually Oakland has a lower vacancy rate than both SF and Silicon Valley and lease rates in Oakland are actually now at parity with SF.

This is because Oakland didnt overbuild like SF and SJ did and Oakland during the dot com boom-it turns out that Oakland not being able to attract as much investment as the other regions in the end, served to Oakland's advantage.
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Old 08-26-2010, 01:54 PM
 
Location: Mission Viejo, CA / San Rafael, CA
2,352 posts, read 5,253,010 times
Reputation: 539
Quote:
Originally Posted by 18Montclair View Post
turns out that Oakland not being able to attract as much investment as the other regions in the end, served to Oakland's advantage.
Yeah, it's a great advantage to not be able to attract massive amount of extra tax revenue, and jobs. Man, Oakland rocks.
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Old 08-26-2010, 07:51 PM
 
Location: Oakland, CA
28,226 posts, read 36,871,835 times
Reputation: 28563
New source of sales tax revenue for Oakland on the way...

Target lands its bullseye on the former-Expo. I believe the target open date is March.

Another way Oakland is turning the downturn into a positive.

Target to open 2 new Bay Area stores: Retailer picks Oakland and San Jose for new locations | TradingMarkets.com (http://www.tradingmarkets.com/news/stock-alert/tgt_target-to-open-2-new-bay-area-stores-retailer-picks-oakland-and-san-jose-for-new-locations-731829.html - broken link)
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Old 08-26-2010, 07:53 PM
 
Location: Oakland, CA
28,226 posts, read 36,871,835 times
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The Chronicle is always late to the party, but here is an article on the style of the new places in Oakland. Oakland restaurant design adding more style

The verdict? Oakland spaces tried to reuse, recycle and really polish up the bones of the location to make the spaces fill lived in and like a permanent fixture in the neighborhood.
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Old 09-13-2010, 02:44 PM
 
Location: Los Altos Hills, CA
36,658 posts, read 67,519,268 times
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RIP Kwik Way...used to go there all the time as a kid and liked it-but it was such a dump. LOL

Here's to the next chapter of that spot.

Kwik Way in Oakland to be appropriately reborn as a retro burger joint - Paolo Lucchesi
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Old 09-13-2010, 05:16 PM
 
99 posts, read 193,787 times
Reputation: 104
Quote:
Originally Posted by jade408 View Post
New source of sales tax revenue for Oakland on the way...

Target lands its bullseye on the former-Expo. I believe the target open date is March.

Another way Oakland is turning the downturn into a positive.

Target to open 2 new Bay Area stores: Retailer picks Oakland and San Jose for new locations | TradingMarkets.com (http://www.tradingmarkets.com/news/stock-alert/tgt_target-to-open-2-new-bay-area-stores-retailer-picks-oakland-and-san-jose-for-new-locations-731829.html - broken link)
Maybe I am wrong on the location but isn't the Expo across 580 from downtown in or near emeryville?

Edit: sorry I misread downturn.
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