Transaction Highlights
Neighborhood: Lakeshore, Oakland
Use: Retail
Size: 26,580 sq. ft.
  • Sourced off-market opportunity to purchase fee simple interest in a sandwich ground-leased property
  • High-performing grocery/drug store site with below-market leases that expire in 2025
  • Existing short-term ground lease expiration complicated the value proposition
  • Completed leasehold buyout and working to extend the grocery/drug stores leases before expiration
  • Prado successfully purchased the leasehold interest in November 2018 without a capital call
  • Prado is negotiating with tenants to blend and extend their leases and further increase the value and cash flow