375 Grand Avenue, 383 Grand Avenue, and 171 Montecito Avenue

NAI Northern California Represents 45-Unit, Off-Market Portfolio Sale in Adams Point

OAKLAND, CA – NAI Northern California, the Bay Area presence for NAI Global, the largest
commercial real estate brokerage network in the world, is proud to announce the 45-unit, off-market
portfolio sale of three separate multifamily properties in the Adams Point neighborhood of Oakland,
California.

NAI Northern California’s Vice President Shivu Srinivasan and Investment Advisor Robert Dau
represented both the buyer and seller in all three transactions including 375 Grand Avenue, 383
Grand Avenue, and 171 Montecito Avenue with each property adding up to an $12,500,000 portfolio. According to Mr. Dau, above market pricing for these off-market transactions was achieved through long-term potential of these pride-of-ownership properties.

Continued spillover of tenants from the San Francisco and rising interest of development adds to the
excitement of the Adams Point neighborhood. The neighborhood offers stable, ideally located assets
with substantial upside. As it turns out, the owners of these properties cashed-out after long-term
ownership of the properties over the past few decades.

Shivu and his team closed the sales of the 45 units, totaling 34,212 square feet, off-market. The prime
Adam’s Point location makes these properties very marketable to potential tenants, with close proximity
to the amenities of Downtown Oakland and the Grand Lake District as well as easy commute access to
the rest of the San Francisco Bay Area.

 

About NAI Northern California

NAI Northern California is at the leading edge of technology, collaborative culture, and training,
giving our local professionals a competitive advantage and creating better outcomes for our
clients. We are consistently a top Commercial Brokerage in the Bay Area, and continue to
grow our team and revenues.

NAI Global is the largest commercial real estate brokerage network. Founded in 1978, today
NAI Global has more than 400 offices worldwide and over 7,000 professionals, managing over 425
million square feet of property. Global offices deliver market-leading services locally and
combine their in-market strengths to form a powerful bond of insights and execution for
clients with multi-market challenges.

To learn more, visit www.nainorcal.com
Explore career opportunities with our winning team at www.nainorcal.com/careers

Visit our News Page here
Download Article PDF here