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For Immediate Release
March 27, 2000
OAKLAND, CALIF.--The Port of Oakland announced today that total gross sales receipts from the 30 plus tenants at Jack London Square for calendar year ending 1999 was $82,440,040-up four percent from the previous year of $79,391,264.
"I think a continuing strong economy was a major factor," commented Omar Benjamin, director, Commercial Real Estate division, Port of Oakland. "I also think it's further proof that more and more visitors see Jack London Square as the 'premier entertainment address in the East Bay'. We have it all -- a great location on the water, anchor entertainment tenants, safety, and excellent demographics."
Over the last year, the Port signed lease agreements and sold property that catalyzed development valued in excess of $149 million, including retail and office leases, land sale of property for a telecommunications center, and several hotel expansions or new construction.
In addition, the Port recently announced the selection of LCOR/WDGV as master developer of the proposed $200 million Jack London Square phase two development. LCOR/WDGV will develop plans that will include a major hotel, additional retail stores, more public waterfront access, and a major anchor tenant for the entrance to Jack London Square. Some six million people visit Jack London Square every year. Visitors can enjoy unparalleled views of the water and a major international seaport operation, dine in one of the 14 fine restaurants, shop in one of the 12 specialty retail stores, or take in a movie at the nine-screen movie theatre.
The Port of Oakland, established in 1927, is an independent department of the City of Oakland employing some 560 people. The Port extends approximately 19 miles along the east side of the Oakland Estuary from the border of the city of Emeryville immediately north of the San Francisco-Oakland Bay Bridge, to the south to the border of the city of San Leandro. Port facilities include four major marine terminal areas covering almost 1,000 acres; Oakland International Airport which covers an area of over 2,500 acres; 1,100 acres of commercial, industrial, recreational and other land; 950 acres of underdeveloped land; and about 9,800 surface acres of water area.
Contact:
Debbie Girard
(510) 627-1187
dgirard@portoakland.com |
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