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Alameda County Planning To Sell Its Stake In Oakland Coliseum To Oakland

Alameda County wants out of its share of the Oakland Coliseum.

With three sports teams potentially leaving the site in the next few years, Oakland and the county are in talks for the city to buy out the county’s stake, the San Francisco Business Times reports. Full control of the site would make it easier for Oakland to redevelop the site.

The city and county still have bonds worth $200M to pay off that were used to finance the expansion of the stadium for the Oakland Raiders and renovate Oracle Arena. Those bonds could complicate negotiations. The county could pay off its portion of the debt, but there is no indication as to how the debt is structured and whether it can be paid off early.

Read more from Bisnow

What’s Up With Retail?

Rent, online shopping, regulations, and a higher minimum wage reduce the brick-and-mortar presence.

Omar Mughannam of Beauty Center faced a 30 percent rent increase at one location.

For local retailers, whose inventory costs are high and whose profits depend on foot traffic and fickle consumer demand, even small increases in rent can be difficult to bear. And when rent increases hit double digit percentages, owners are often forced to relocate to a more affordable space, consolidate multiple outlets, or close altogether.

Empty stores are everywhere, in Rockridge where Itsy Bitsy, Cotton Basics, Rockridge Home, and See Jane Run once seemed to thrive; in Elmwood where the corner of College and Ashby looks sparse without Jeremy’s, and in Montclair Village, too, where the local bike shop and Daisy’s are no more.

Silicon Valley’s largest commercial real estate leases of 2017 (so far)

So far, 2017 hasn’t been a feverish year for commercial real estate leasing, especially compared to busy 2015 and 2016, but analysts agree that it has been a good, stable year with plenty of important moves.

Among them are WeWork’s largest ever lease that just happens to be in a brand-new development in Mountain View. Meanwhile, Menlo Park-based social media giant Facebook is rapidly growing, inking multiple massive new leases in the area, and Amazon continued to spread its reach throughout the Valley with a renewed focus on the South Bay.

Read more from Silicon Valley Business Times

California’s Cannabis Conundrum: Legalization Will Lead To Fewer Dispensaries, Not More

With legalization of recreational marijuana just around the corner in California, the state is about to embark on what could be a $5B industry and a boon for tax revenue. But state regulations have created high barriers to entry and many cities and counties have banned cannabis outright.

Legalization in California will not translate to an immediate influx of cannabis dispensaries. In fact, many dispensaries now in business will no longer be able to continue operations past Jan. 1. States like Colorado created a more open market with fewer regulations when it legalized recreational marijuana in 2012, leading to an explosion of cannabis businesses. California requires dispensaries to be at least 600 feet from schools, to close at 10 p.m. and to have 24-hour surveillance, among other regulations. Jurisdictions also have the right to be more restrictive.

Read more from Bisnow

Oakland Approves Tenant Relocation Assistance for Owner Move-Ins and Condo Conversions

The Oakland City Council last night approved new financial assistance for renters displaced by certain types of no-fault evictions.

Under the new rules, if a tenant is evicted by a landlord who is moving into the rental unit, or whose immediate family member is moving in, the landlord must pay the tenant an amount between $6,500 and $9,875, depending on the size of the rental unit. Similarly, if a landlord evicts a tenant in order to convert the apartment into a condominium, the payments also have to be made.

Read more from East Bay Express

Uber sells Uptown Station HQ to Oakland firm

Uber announced in August that it was putting Uptown Station—the new mixed-use development right downtown in the onetime Sears building on Broadway that only recently shed the white plastic cocoon that enshrouded it during rehab—up for sale without ever moving a single employee into its planned headquarters.

But it didn’t take long for an interested buyer to start making eyes at the circa 1929 Beaux-Arts building.

Back in October, the San Francisco Business Times reported that the Oakland-base investment firm CIM Group planned to buy the whole 356,000-square-foot building for $175 million.

As Tuesday morning, CIM announced the sale via press release. The announcement doesn’t include the sale price, and spokesperson Karen Diehl tells Curbed SF “CIM never discusses financial arrangements.”

Uber previous paid $123.5 million for the place, putting millions more into the rehab.

Read more from Curbed SF

Oakland City Council: Tenant Relocation Assistance Delayed, But Moratorium on Rent Control Loophole Passes

Extra assistance for renters who are displaced through no-fault evictions failed to pass a second reading at the Oakland City Council last night after Councilmember Annie Campbell Washington had the legislation pulled from the agenda’s consent portion of the calendar and scheduled for a future council meeting’s non-consent portion, where it will likely be debated and amended.

The tenant assistance bill, authored by Councilmember Rebecca Kaplan, would extend cash payments — between $6,500 and $9,875, depending on the size of the rental unit — to renters displaced through no-fault owner move-in evictions and condominium conversions. Renters with children, or those who are elderly, disabled, or low-income would be eligible for additional assistance.

Read more from East Bay Express

San Jose: Vacant Nob Hill store will be home to a new church amid community concerns

A vacant former Nob Hill grocery store at the center of a debate over whether the city should step in when commercial landlords let empty storefronts fester will soon become a church.

But community leaders who protested other plans to fill the site that had become blighted and infested with rodents over the last two years said the latest proposal is hardly an improvement for the struggling retail center.

“I was disappointed, I think it’s inappropriate for a church to be inside an anchor store in a strip mall,” said Issa Ajlouny, who’s lived in the neighborhood for 33 years and spearheaded a push to get the space filled. He fears the church will attract homeless people to the shopping center.

“Will that make things worse?” Ajlouny asked. “Is that fair to the other stores in the center?”

Read more from The Mercury News

Can your spare bedroom help solve Oakland’s homelessness crisis?

OAKLAND — For everyone who has ever passed one of this city’s sprawling homeless encampments and wondered how to help, Mayor Libby Schaaf has an answer — open your door to someone in need of shelter.

The Oakland mayor is asking residents to offer their spare rooms, Airbnb units and rental properties to the city’s homeless, a radical proposition that has prompted both cautious optimism and scathing criticism from her constituents. Some landlords worry taking in down-on-their-luck tenants could backfire, and skeptical homeless advocates say this Band-Aid of a solution doesn’t solve the larger problem. But others, watching Oakland’s homelessness crisis grow to devastating proportions, say now is the time for outside-the-box thinking.

Read more from East Bay Times

Lafayette settles rent question, for now

A proposal to allow tenants of large apartment buildings to appeal rent increases greater than 10 percent fell one vote short.

The decision rested with Mayor Mike Anderson and council members Don Tatzin and Cameron Burks because colleagues Mark Mitchell, who owns a rental house in Lafayette, and Ivor Samson, who is indirectly tied to a firm that owns rental property in the city, had recused themselves.

Read more from the East Bay Times