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Berkeley Center Sells for $20M

BERKELEY, CA-Newmark Grubb Knight Frank facilitates the sale and financing of the retail and office center to Hill Street Realty LLC.

By Carrie Rossenfeld | Updated on November 29, 2012

(Save the date: RealShare Industrial 2012 comes to The Bankers Club, Miami, December 5 – 6.)

BERKELEY, CA-A private family trust has sold the Berkeley Center downtown to Hill Street Realty LLC, a Los Angeles-based real estate investment firm, for approximately $20 million. Newmark Grubb Knight Frank’s senior managing director Joshua Levy and managing director Matthew Dobson of the company’s capital group, in conjunction with Cantor Commercial Real Estate, facilitated the sale and financing of the property. Berkeley Center comprises approximately 92,000 square feet of retail and office space on 1.75 acres on an entire city block bounded by Shattuck Ave., Allston Way, Kittredge St. and Harold Way. The hotel on the property was not part of this transaction. Financing included approximately $11 million of debt, was handled through a CMBS conduit loan structured by Cantor Commercial Real Estate, an affiliate of Cantor Fitzgerald.

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