Prologis offers $24M for former Oakland Raiders HQ

Prologis has out-dribbled a professional soccer club in its $24 million bid for the former Oakland Raiders headquarters and training facility in Alameda.

The San Francisco-based real estate investment trust has offered to buy the 16-acre property owned by the City of Oakland and Alameda County at 1150-1220 Harbor Bay Parkway, on Bay Farm Island, the San Francisco Business Times reported.

The offer works out to $1.5 million an acre, or $202 per square foot for the two-building property.

The pending deal would keep the Oakland Roots and Soul soccer team as a long-term tenant — and serve as a potential use in the 2026 World Cup. The Roots, an affiliate of Oakland Pro Soccer, has leased the property since 2021 as a training facility.

The Oakland City Council will vote whether to negotiate a purchase agreement with Prologis at an upcoming meeting. 

The Oakland Roots & Soul Sports Club and Las Vegas-based Steam Factory Oakland were in negotiations with the Alameda County Board of Supervisors this month for the 119,000-square-foot facility.

But Oakland staff said the offer from Prologis was “the most attractive of multiple purchase offers received by the city and county,” according to a city report.

A deal with Prologis, which would lease its facility and fields to the professional soccer club, could create a “potential role for Oakland in the 2026 World Cup.

“Under the sale to Prologis, (Oakland Pro Soccer) would have a long-term lease of the property — and staff have been informed OPS may also be granted a purchase option — thereby ensuring ongoing use of the training facility by OPS,” the report said.

The staff report added that Prologis, a major investor in East Bay industrial properties, would consider future industrial development at the site.

The property includes a 100,600-square-foot former Raiders’ headquarters and a 18,400-square-foot former training facility. The former headquarters has a locker room, media production and conference rooms, two indoor whirlpools with a steam room and a gated parking lot. The training facility has an indoor fitness area, outdoor pool and a grassy field.

The City of Oakland and Alameda County became joint-owners in 2020 when the Raiders moved to Las Vegas, and would split any proceeds from a sale. Oakland would receive $11.5 million after broker fees and transaction costs that could offset its $360 million budget deficit.

The county, according to state surplus land law, first offered the property to affordable housing developers in early 2021. The land, zoned for commercial manufacturing or light industrial, sits across the street from the Harbor Bay Business Park, a life science hub.

The county tried to auction off the Raider’s former headquarters last summer with a minimum bid of $35.8 million, but postponed the auction without reason or notice. At least 65 potential bidders expressed interest.

— Dana Bartholomew

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