Lift Partners Sells Berkeley Property for $9.5MM
San Francisco, CA, June 11th – CBRE announced today that is has sold 2619-2629 Seventh St in Berkeley, CA (“Berkeley Brass”) on behalf of a joint venture between Lift Partners, Acre Valley Real Estate Capital and Blackbird Investments for $9.5M ($436 PSF). Berkeley Brass is a +/- 21,800 sf warehouse / R&D building that was acquired in 2016.
Located in West Berkeley the property is 100% leased to four tenants including Enchroma, Mar Structural, Mosswood and Home Base Spirits.
“This is a unique asset,” said Mike Raffetto of CBRE who brokered the sale and also leased the building from 20% to 100% occupancy. “With tall exposed structural steel ceilings, radiant heated flooring and outdoor patio amenity space, Berkeley Brass is a bullseye for creative industrial and office space.
The Berkeley / Emeryville market remains one of the strongest in the nation. A dearth of new supply has led to record-setting land prices, rents, and property trades in core Bay Area submarkets.