1400 Park Street

1400 Park St, Alameda, CA

Description

1400 Park Street is a very significant space at the corner Central Ave, at the same corner as Starbucks and Peet’s.

A little history: The building has been vacant for about five years. The most recent tenant was Total Travel Gallery, but previous to that it was home to a Wells Fargo branch office where they were the original tenant since the building was built in 1888.

Part of the reason why this building has been vacant for so long is because of its size, price, and some limitations of the building that make it difficult to accommodate businesses that might work here.

The space has a total of 6500 sq. ft. on two floors. Because its in such a prominent location the price per square foot is on the higher end of the spectrum. One issue with the layout is about half of the square footage comes from the offices on the second floor which isn’t very useful for retail shops or restaurants.

A brewpub was interested in the space but the flooring can’t support the weight of the beer tanks and the cost of rebuilding the floor was a deal breaker. Some restaurants have looked at it, but a kitchen would have to be built so they would have to feel pretty good about their odds. Chase Bank also considered the building, but they decided on another location that has a parking lot.

But the main problem is the size and the price. The owners of the building is aware of this so they are willing to negotiate. But even if they brought the rate down to mid-market levels the size and layout of the space would still be a problem so they’re considering diving up the space into smaller units that could be used for retail, restaurant and office space.

We’d like to get your suggestions on the types of businesses you would like to see here. The broker can use your suggestions to help attract those businesses to this space.
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