LOS ANGELES, CA September 5, 2018)—Hackman Capital Partners, LLC, a Los-Angeles based real estate investment and operating company, announced today the purchase of 1300 64th Street in Emeryville, California. The property, which includes a 25,138-square-foot building and off-street parking lot, follows on the heels of the company’s acquisition of a five-building portfolio, known as Emeryville Exchange, in June.
Five of the now six buildings, including the recent purchase, are situated in Jelly Bean Square, which takes its name from the largest building’s roots as the former Jelly Belly distribution center. The sixth building, called the Thoroughbred Building, is located approximately 10 blocks south of the square at 1250 53rd Street.
“We’re thrilled to be expanding our presence in this dynamic East Bay market,” said Matt Landstrom, Vice President of Acquisitions for Hackman Capital. “With high demand and limited supply, Emeryville is quickly growing and evolving.”
According to Landstrom, the building at 1300 64th Street, which is available for lease, offers features that will appeal to a variety of tenants—including hard-to-find storage and distribution space, dock-high loading, large windows and skylights, plus a wooden bow truss roof. Leveraging those features, Hackman Capital intends to implement a capital program to renovate the building, which could include improvements for lab-related and office uses.
Cushman and Wakefield’s Michael Karp and Jeff Leenhouts, who represented the seller in the recent transaction, will also be retained as the property’s exclusive leasing agents along with Marc Ward.
Emeryville is located 10 miles east of San Francisco, between Berkeley and Oakland, and sits at the confluence of several major highways, three international airports, transcontinental rail, one of the world’s busiest bridges, and the Port of Oakland, one of the most active containers ports in the US.
The city is home to a diverse mix of major corporations—including Pixar Animation, Bayer, Novartis, Clif Bar, Jamba Juice, Peet’s Coffee and Adobe-Systems-owned, TubeMogul, a tenant in the portfolio. The city has the additional benefit of a highly talented labor pool, due to its proximity to UC Berkeley, UC San Francisco and Stanford.
MORE ABOUT HACKMAN CAPITAL
Hackman Capital Partners is a privately-held, real-estate investment and operating company that focuses on commercial and industrial properties in major U.S. markets. Founded in 1986, the company has invested more than $2.6 billion in properties across 41 states—having owned, through affiliated entities, over 400 buildings totaling 35-plus million square feet. More than 6.2 million square feet of those properties have been located in California.
The company’s most notable Southern California projects include The Culver Studios, a 14.3-acre film and television studio campus and home of Amazon Studios, The Culver Steps, a 1.16-acre, mixed-use development, directly adjacent to The Culver Studios, a 75,000-square-foot creative office conversion at 5500 West Jefferson Boulevard in Los Angeles, a 550,000-square-foot creative campus conversion in El Segundo, the Beats/Apple Southern California headquarters, and Westwood One Studios.
Hackman Capital Partners is headquartered in Los Angeles, California and has additional offices in Chicago, Illinois and Columbus, Ohio. With its related entities, it employs a staff of more than 60 professionals.