BISNOW: Roxborough Plans Creative Conversion in Berkeley
We just chatted with The Roxborough Group’s Dan Kodner, whose firm just made its first big buy: 2168 Shattuck Ave in Berkeley. This summer we did a profile on the company, which has a game plan to become one of S.F.’s hottest rising investment managers. The 36k SF Berkeley buy was in conjunction with Harvest Properties. Wareham Development, which has also been making moves in Berkeley as of late, rehabbed the early 1900s-era mixed-use facility in the 1980s and sold it off in 2004. The latest seller is a private individual.
Its location in front of the Downtown Berkeley BART Station, slated for a $12M renovation next year, was a big draw in the off-market deal. Dan tells us his firm moved quickly to make the deal happen with Harvest. “The property has a good combination of existing tenancy and untapped potential with dated common areas and a full-floor vacancy,” he says. The new owners plan to do a full-floor conversion of the second level to a creative office space. Also part of the makeover: a commuter-friendly bike storage area in the lower level. Colliers repped the buyers.