ASB Lightens Up In Lake Merritt

The San Francisco Bay Area continues to attract real estate investment as an Oakland office asset recently traded hands.

By Alex Girda, Associate Editor

Robert Bellinger, CEO and president of ASB Real Estate Investments

ASB Real Estate Investments announced that it has sold Plaza 360, an office complex located in Oakland’s Lake Merritt section. The property was acquired by an unnamed buyer for $28.3 million.

Located at 360 22nd St., the 114,000-square-foot complex comprises four- and eight-story buildings. The property offers tenants proximity to retail amenities and BART services, as well a strong position in a region that is attracting a growing number of tech companies.

ASB Real Estate Investments moved the property as part of its disposition strategy. The firm’s president & CEO, Robert Bellinger, noted in a statement that the company is “taking advantage of the demand wave in the capital markets to sell a property, owned for almost a decade, which no longer fits our investment parameters.”