ALAMEDA, CA—The Waterfront is a 385,000-square-foot class-A office campus comprised of six buildings on 26 acres within the Harbor Bay Business Park near the Oakland International Airport. It was constructed by SRM for Ascend Communications, later Lucent Technologies, as its corporate campus in the late 1990s.
SRM sold the property in 2006 to BPG Properties Ltd. Denver-based real estate private equity firm, Ascentris, on behalf of a pension fund client, acquired the property in 2012, knowing several large tenants would soon vacate, leaving more than 150,000 square feet of space to lease.
The original business plan for the property included making significant building improvements followed by a revised leasing strategy targeting tenants looking for lower-cost options relative to other Bay Area submarkets. Ascentris enhanced the campus' amenity offering with several additions including a new fitness center and yoga studio, electric vehicle charging stations, a bocce ball court and free Wi-Fi in the courtyard.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
