Several months ago Kaiser in Oakland sent a notice to its employees. They said the streets of Oakland around the facility is dangerous, go out in pairs and try not to be out at night. Now they are giving up the ghost.
“Kaiser Permanente is warning it plans to slash its downtown Oakland headquarters footprint, an ominous decision that deals a fresh blow to a reeling Bay Area office market.
The disclosure was contained in a Fitch Ratings report about multiple commercial real estate properties, with a special focus on the Oakland tower at 1 Kaiser Plaza.
In recent months, Kaiser sold two office properties in downtown Oakland:
—In August 2024, Kaiser Foundation Health Plan sold an office building at 2000 Broadway to BART for the transit agency’s police headquarters. The purchase price was $25.5 million.
— In September 2024, Kaiser Foundation Health Plan sold an office building and associated garage to an affiliate headed up by residential developer Behring Cos. for $14.4 million.”
The DOOM LOOP is in full action in Oakland. This is a dying city, death by suicide. Looks like Kaiser can not get out of town fast enough.
Healthcare leviathan Kaiser shrinks downtown Oakland footprint again
Story by George Avalos, msn, 11/21/24 https://www.msn.com/en-us/money/realestate/healthcare-leviathan-kaiser-shrinks-downtown-oakland-footprint-again/ar-AA1uwBxg
Kaiser Permanente is warning it plans to slash its downtown Oakland headquarters footprint, an ominous decision that deals a fresh blow to a reeling Bay Area office market.
The disclosure was contained in a Fitch Ratings report about multiple commercial real estate properties, with a special focus on the Oakland tower at 1 Kaiser Plaza.
In recent months, Kaiser sold two office properties in downtown Oakland:
— In August 2024, Kaiser Foundation Health Plan sold an office building at 2000 Broadway to BART for the transit agency’s police headquarters. The purchase price was $25.5 million.
— In September 2024, Kaiser Foundation Health Plan sold an office building and associated garage to an affiliate headed up by residential developer Behring Cos. for $14.4 million.
“The Ordway building at 1 Kaiser Plaza in Oakland continues to serve as Kaiser Permanente’s national headquarters,” Kaiser said in a statement the healthcare provider sent to this news organization. “We have a standard practice of not commenting on rumors or speculation related to real estate transactions.”
Five years ago, Kaiser had a different mindset about its presence in downtown Oakland.
With much fanfare, Kaiser unveiled plans in 2019 for an eye-catching new headquarters complex in Oakland’s Uptown district. The $900 million, 29-story tower in the Uptown district would have served as Kaiser’s new headquarters.
