OAKLAND, Calif., JUNE 18, 2004 – 300 Harrison LLC, sold 30,000 square feet of raw land in the Jack London area of Oakland for $4.1 million to Signature Properties that plans to build 91 residential units on the site.

“We are very excited about the site as well as the Jack London Area. We feel this was a win-win for everyone,” said Michael Ghielmetti, President of Signature Properties, when asked about Signature’s most recent purchase. Signature Properties, a residential developer with a reputation for quality single family developments as well as high-density residential, has yet to develop a site in the Jack London area, “Jack London is a rapidly growing hub in the Oakland area and we look forward to adding another quality piece to an already booming area,” said Ghielmetti.

The 30,000 square foot parcel has been sitting idle for over a year while developer Jeff Handwerger obtained development approvals and entitlements. After finalizing the deal with Ghielmetti, Handwerger commented, “The deal worked out for all parties involved. Mike’s company has a great reputation and we are sure the new development will be a success.”

Scott Stone and Ali Seals of Aegis Realty Partners represented both buyer and seller in the transaction.

ABOUT AEGIS:
Oakland-based Aegis Realty Partners is a full service commercial real estate brokerage firm. In the past two years, Aegis Realty Partners has represented clients in transactions totaling over 1.5 million square feet, and is unique among real estate brokerage firms for its focus on tenant representation. For more information about Aegis, visit the company’s website at http://www.aegisrealty.com.