Oakland, CA


Acquired: February 2011 from the Union Bank of California
Property description: Built in 1925, this building boasts original brick and timber construction, as well as sixteen glass-walled offices, a conference room, kitchen, and showers.  The building is located in the heart of Jack London Square and includes twelve private, off-street parking spaces.
History:  The office building was put into foreclosure in 2010. ODI was able to spot a title company error wherein the title company had deeded 12 parking spaces in an adjacent lot to both 315 Washington and the lot owner.
Redevelopment:  Seismic renovations were planned and executed in 2011 to improve building stability and safety.
Current status: The property was sold after seismic renovations were completed in 2011. ODI reached an agreement with the title company and lot owner where it sold the parking spaces to the lot owner.