For Immediate Release
December 8, 2000

Agreement Signed For Office Campus Development Near Oakland Airport
WP Investments purchased 14-acre site from Port of Oakland with plans to build 240,000 sq. ft multi-building complex.

Who: WP Investments
What: Signed purchase agreement of 14-acre site
When: Friday, December 8, 2000
Where: Property at entrance to Oakland Airport Business Park

The Port of Oakland is pleased to announce that WP Investments, a Woodside based real estate developer, signed a contract today to purchase a 14-acre site from the Port. Located near the Oakland International Airport at Hegenberger Road and Pardee, WP Investments plans to develop an approximate 240,000 sq. ft. multi-building R&D/office campus.

"It is a rare opportunity to have a chance to develop a site that has excellent visibility on a major boulevard, close proximity to a BART Connect Station, an International Airport, restaurants, hotels, and further benefits from immediate freeway access," said Bruce Isackson -- a principal with WP Investments.

The site at the entrance to Oakland Airport Business Park is attracting numerous fast growing high tech firms such as Zhone Technologies, Rainin Instruments and E-Support Now.

"The development is planned during a major transformation of the area," says Omar Benjamin, Oakland's Director of Commercial Real Estate. "Office, hotel and retail buildings are replacing old warehouses and manufacturing facilities. Furthermore, the City of Oakland is supporting a renewal through the Hegenberger Beautification Project. Improvements will include new landscaping features that will create an ambiance similar to Century Boulevard at the Los Angeles Airport."

WP Investments' goal is to provide an alternative product to downtown Oakland and San Francisco high-rise buildings with massive parking structures. "Users will have the opportunity to have their own identity and the ability to grow within a campus environment, with parking near the front door" says WP Investments principal Mike Schonenberg.

Contact:
Omar Benjamin
Port of Oakland Commercial Real Estate Director
(510) 627-1216

Contact:
Harold Jones
Port of Oakland Director of Communications
(510) 627-1564
hjones@portoakland.com

The Port & You | Maritime | Airport | Real Estate | Newsroom
Job Center | Doing Business | Community | Environment | Contact Us