Lane Partners LLC could sell its newly constructed building in Oakland, Calif., to San Francisco Bay Area Rapid Transit District for about $146 million, the San Francisco Business Times reported, citing a person familiar with the matter.
The transit agency is looking to move its Oakland headquarters to the 244,000-square-foot office building at 2150 Webster St., which has ground-floor retail space, according to the report.
Its current lease of 369,587 square feet at 300 Lakeside Dr. will expire in 2021 and staying in the property beyond that reportedly would substantially raise BART rent payments to near market-rate levels, the publication noted, citing a recent memo from the agency.
The agency's board will meet Sept. 12 to determine whether to authorize a purchase agreement, including allocating $85 million for tenant improvements at the property, according to the publication.
