Converted Office Can Take on Many Roles

The area surrounding the property is home to 10 corporate headquarters.

EMERYVILLE, CA—If corporate headquarters proximity is any indication, this property is poised for attention after selling for $30.5 million. The seller was Griffin Capital Corp.  and Gerding Edlen purchased the asset. Gerding Edlen is an investment and development firm focused on sustainable urban, infill, office, residential and mixed-use properties. Renovated and seismically upgraded in 2004, The Atrium was originally constructed as a warehouse in 1953 and converted into office space in 1990. The 127,246-square-foot one-story building could be redeveloped into creative office, retail, mixed-use or multi-housing space. Holliday Fenoglio Fowler L.P. (HFF) marketed the property on behalf of the seller. The HFF investment sales team was led by senior managing director and co-head of HFF’s San Francisco office, Steve Golubchik , and associate director, David Dokko . Golubchik tells Globest.com: “The site is ideally positioned to become a corporate or regional headquarters for a company seeking a large block of creative space at a significant discount to San Francisco or downtown Oakland.” Located at 1650 65th St., The Atrium has immediate access to Interstates 80 and 580, which provide a direct route into both San Francisco and Oakland, via the building’s proximity to Shellmound Street, a major East Bay thoroughfare. The area surrounding the property is home to 10 corporate headquarters, including Clif Bar, Leapfrog and Pixar Animation . “The Atrium presents a unique opportunity to control a large block of office space in an infill urban location just minutes from downtown San Francisco,” Golubchik said.  “With the added potential for redevelopment, the Atrium is a great fit for a group with Gerding Edlen’s expertise. The long-standing view of Emeryville as an institutional market continues today.”