May 9, 2014 (Irvine, California) – The California Division of the Land Advisors Organization is pleased to announce the closing of Oak Knoll, a premier hillside development opportunity featuring 167 acres in Oakland, California. The asset sale was brokered on behalf of LV Oak Knoll LLC, the Seller, by Terry Ruckle and Steve Reilly of the Land Advisors Organization.
Land Advisors generated 20 offers for the property, evidence of intense competition for Bay Area residential development projects.
The Oak Knoll property is unique in the market due to its ability to provide desperately-needed new single-family homes, significant natural open space, trails and parks, and direct access to Interstate 580 at Mountain Boulevard. With its in-fill location, the Oak Knoll property is well-positioned to provide a wide range of housing options to the East Bay Area. Oak Knoll offers one of the rarest residential development opportunities remaining in the Western United States.
For more information about Oak Knoll, please contact Terry Ruckle, Co-Founding Principal and Oak Knoll Marketing Team Lead, at firstname.lastname@example.org or Steve Reilly, Senior Marketing Consultant, at email@example.com. For more information about Land Advisors Organization, please visit http://www.landadvisors.com or contact Tom Reimers at (949) 852-8288 ext. 28.
About Land Advisors Organization:
Land Advisors Organization specializes in innovative land brokerage through deep market insight and unparalleled client relationships. With an exclusive focus on land, Land Advisors Organization integrates current comprehensive information, cutting-edge technology and geographically specialized professionals to help our clients identify and capitalize on valuable opportunities in all kinds of economic environments. The Land Advisors Organization employs a true collaborative brokerage model with offices located throughout Arizona, California, Florida, Idaho, Nevada, New Mexico, Utah and Texas.
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Really hot and really cold. That’s the story in the San Francisco Bay Area residential land sub-markets right now. And the temps are only getting more extreme.
- Sizzling HOT: The primary Bay Area sub-markets, the areas within a 20-30 minute commute from the Silicon Valley and San Francisco, are currently driving the homebuilding market. Property values have come off the ground and new home sales are picking up to relatively healthy levels. In the Cities of Sunnyvale, Mountain View and Palo Alto, projects across the spectrum are achieving a sales velocity of 1 sale per week which has led land values to climb back to over $3 million per acre.
- Example deal: Land Advisors recently represented the buyer and the seller in the sale of 19 partially improved lots in Los Gatos, known as Highlands of Los Gatos.
- Brrrrr COLD: The Bay Area’s tertiary sub-markets tell a different story. New home sales are lagging, land values are deteriorating and the market has yet to hit bottom. Areas with little or no interest from homebuilders or developers include Oakland, Oakley and Pittsburg.
- A particular area of interest for land buyers is in luxury lots. With prices off 50% from peak levels, handfuls of buyers are showing up for a chance to buy bulk lot sales emerging from distressed situations in A+ locations.
Source: Steve Reilly, Marketing Consultant, (925) 368-3128