OAKLAND—Clorox has completed the sale of its downtown headquarters to Westcore Properties.
Westcore paid an estimated $110 million for the 520,000-square-foot office tower, says the Oakland Tribune. Clorox will keep its headquarters in the downtown high-rise at 1221 Broadway as part of the sale-leaseback property sale, the paper says.
The sale comes as Clorox moves hundreds of employees to Pleasanton from the Oakland site, which has been its headquarters since 1988.
Westcore, which completed some $1 billion of acquisitions last year, said it would renovate the building's lobby and upgrade several floors in an effort to attract tenants.
The building has served as the headquarters for Clorox since 1988. The deal to sell the building was announced in early December.
Click Oakland Tribune for the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
