1625 Shattuck

In June of 2015, Cohen Rojas purchased 1625 Shattuck Avenue, a 27,155 square foot building in Berkeley for $8.3M, or just over $300 per square foot. This is below replacement cost in an irreplaceable location, where getting entitlements today would be extremely difficult. The building is located on Shattuck Avenue amidst arguably the nicest retail stretch in Berkeley, just a few blocks from the University of California. We made significant improvements to the common areas of the building by modernizing the lobby with concrete floors and custom wood work and remodeling the bathrooms. Finally we re-painted the exterior of the building including a beautiful mural on what was previously a blank massing with no windows and an eyesore to the street. Since acquisition we have increased gross rents by over 30% through extensions with existing tenants and re-positioning one of the ground floor retail spaces.