Uber has purchased the 400,000-square-foot Sears Building in Oakland’s Uptown neighborhood which the department store had occupied since 1996 and vacated last year.
Built for the H. C. Capwell Company in 1929, 1945 Broadway was acquired by Lane Partners for $24.2 million in late 2014 and is in the midst of a $40 million renovation and re-branding as “Uptown Station.”
The renovation, which will include a market hall for restaurants, ground floor space for retailers, and an underground parking garage, is slated to be finished in early 2017 and will yield workspace for up to 3,000 Uber employees.
Uber’s purchase price was not disclosed and Lane Partners will remain involved in the renovation.
UPDATE (9/24): Uber Paid $123.5 Million For Uptown Oakland HQ.