ALAMEDA The sale of an athletic complex that has housed several Oakland-based professional sports teams is currently on hold, depriving the city of the funds it needs to deal with its financial difficulties.
The $24 million former Raiders practice facility is located on Bay Farm Island in Alameda and includes 16 acres of office space and soccer grounds. After selling its portion of the site and an ownership interest it purchased from Alameda County, Oakland anticipates earning about half of that sum.
However, according to city documents, Bay Area real estate company Prologis, Inc., a buyer who had expressed interest about a year ago, decided last month not to move forward with the purchase for undisclosed reasons.
For a city that has developed the practice of allocating funds from unfinished real estate transactions, it is yet another setback. A more notable example is the Oakland Coliseum’s still-pending sale, but county officials indicated last week that the deal would soon proceed.
However, the former Raiders practice grounds, a sleek complex of offices, training facilities, turf soccer fields, and a sizable concrete parking area at 1150 and 1220 Harbor Bay Parkway, would require a new suitor.
With intentions to host home games in the Coliseum stadium next year, Oakland Roots SC, a lower-division men’s soccer team that has grown in popularity in the increasingly sports-starved community, is currently its tenant. The building is also where the Soul, a companion women’s team, practices.
Oakland Pro Soccer LLC, the parent company of the Roots and Souls, may try to purchase the property itself or look for an other partner who would continue to lease to the two soccer clubs, as Prologis had committed to do before pulling out of the agreement.
The Oakland City Council will discuss authorizing an agreement modification that would allow the franchises to look for a way ahead at a meeting on Tuesday.
According to a city estimate, the $24 million overall cost would not alter. To substantiate this amount as the property’s fair market value, the city hired an appraiser.
Interviews with officials of Prologis and the city were unsuccessful, and a Roots spokeswoman declined to comment.
Tensions between county and municipal authorities, who frequently struggle to agree on what to do with properties they jointly hold, had already been brought to light by the sale.
Similar issues have arisen at the Coliseum, where a separate agreement to sell the 112-acre East Oakland complex to the African American Sports and Entertainment Group is still pending, and a lease for the Roots to play home games next season has encountered its own of roadblocks.
At the same time, Oakland is facing a $115 million budget deficit this year, which is now anticipated to result in layoffs to all city agencies, including fire and police.
Financial Director Erin Johnson cautioned against continuing to budget funds from the Coliseum sale, as outgoing Mayor Sheng Thao had wanted to do, in a report indicating the city is heading toward insolvency.
Nevertheless, before the fiscal year closes in June, city officials anticipate receiving $95 million in money under the agreement. If everything works out, the sale of the Raiders training facility, which was initially part of the 2023–24 budget, might be an additional boost.
Reporter Shomik Mukherjee covers Oakland. You can reach him via email at [email protected] or by phone at 510-905-5495.
Note: Every piece of content is rigorously reviewed by our team of experienced writers and editors to ensure its accuracy. Our writers use credible sources and adhere to strict fact-checking protocols to verify all claims and data before publication. If an error is identified, we promptly correct it and strive for transparency in all updates, feel free to reach out to us via email. We appreciate your trust and support!
