The Cushman & Wakefield Oakland team of John Dolby, Dane Hooks and Jay Hagglund represented the seller of 100 Webster in Jack London Square to the San Francisco-based advertising firm H&L Partners. The three story office building sold for $6.8 million which is close to $400 psf, a new high watermark for the Jack London submarket during this last real estate cycle.
The 17,500 square foot building will serve as the new headquarters for the ad agency and the home of approximately 60 employees. H&L Partners has been a successful ad agency for over twenty five years.
According to Dane Hooks: “I believe this is a part of an ongoing trend here in Oakland, as a number of high profile creative users have either relocated their offices across the Bay, or are considering making such a move. This really speaks to the attraction creatives have for Oakland, where the rents are easier to justify and the surrounding buzz, urban culture and amenities appeal to the employee base.”
One of the San Francisco Bay Area’s most dynamic submarkets, Jack London Square is undergoing a vibrant renaissance which is quickly shaping the area into one of the region’s most vibrant areas to live. Known for its scenic waterfront, appealing climate, and excellent selection of highly touted eateries, the submarket has attracted a wide variety of businesses to the area in recent years and continues to see an influx of demand for both commercial space and residential development.