Ellis Partners Sells Jack London Square Building to Foundation
August 5, 2011
by Blanca Torres, San Francisco Business Times
Oakland, CA – Ellis Partners has sold a 30,000-square-foot building at 10 Clay St., Oakland, in Jack London Square to the Rogers Family Foundation, a nonprofit that occupies half of the building. The price was not disclosed.
The building, known as One Ferry Landing, was built as part of the first phase of a $350 million overhaul of Jack London Square spearheaded by Ellis Partners and Transbay Holdings.
It sits next to the Jack London Square Ferry Terminal and has two Floors, one retail and one office.
The Rogers Family Foundation focuses on advancing education and youth programs in Oakland and surrounding areas. The foundation is headed by T. Gary and Kathleen Rogers. T. Gary Rogers is a former co-owner and chief executive of Dreyer’s Grand Ice Cream, a former board director for Levi Strauss & Co., and former chairman of the board of directors of the Federal Reserve Bank of San Francisco.
Jim Ellis, a partner with Ellis Partners, said the foundation was interested in owning the building, but Ellis Partners will continue to manage the property and market the vacant retail space on the first floor.
“The proceeds from that sale are being reinvested back into the rest of the project,” Ellis said. “It is a good thing in that regard.”
Ellis Partners has been working on the Jack London Square project for close to a decade, but sold most of its interest in it last fall to Divco West while remaining as a minority owner.
The development parcels and buildings are either owned by the developers or have ground leases held by Port of Oakland.