4 Mar, 2021

CIM Group off-loads Uptown Station building in Oakland, Calif.

CIM Group LP sold the 397,000-square-foot Uptown Station at 1955 Broadway in Oakland, Calif.

The community-focused real estate and infrastructure company did not disclose the sale price, but an earlier report said Singapore-based Mapletree Investments Pte. Ltd. was under contract to acquire the property for about $420 million.

CIM had bought the property from ride-hailing company Uber Technologies Inc. It later redeveloped the former department store into a mainly office building and leased 100% of the office space to digital payment company Square Inc.

The property comes with 35,000 square feet of ground floor retail space, which is leased to Shake Shack Inc. and One Medical Group Inc.