Blox Ventures, a San Francisco-based leading commercial real estate operator and investment company, has acquired the loan secured by the office building at 6001 Shellmound Street in the iconic Emeryville Public Market from PNC Bank, positioning the company to become the property’s new owner. The loan was purchased for $62 per square foot, which is a 68% discount to the $21.61M loan that matured in December 2024. This acquisition underscores Blox Ventures’ strategic focus on investing in well-connected communities with strong growth potential.
The eight-story, 109,333-square-foot asset, currently 60% leased, is part of Emeryville’s renowned mixed-use destination and offers panoramic views of the San Francisco Bay. Notably, the Emeryville Public Market was the first project in the United States to achieve LEED Platinum for Neighborhood Development, a prestigious certification awarded to properties that prioritize smart growth, walkability, and community.
“Emeryville is a leading innovation hub in the Bay Area,” said Jason Oberman, CEO of Blox Ventures. “With global leaders like Pixar Animation Studios, Bayer and Novartis, along with the area’s expanding residential offerings, the long-term potential of this property is very promising.”
The property, which Sagard Real Estate (formerly Everwest) purchased in 2017 for $33M, is located at the nexus of a highly skilled talent pool with connectivity to the broader region and proximity to UC Berkeley. Emeryville is home to globally recognized companies, including Pixar Animation Studios, Peet’s Coffee, and biotech leaders Bayer, Novartis, and Zymergen
The Public Market further enhances the property’s appeal with its diverse mix of retail and dining options, fitness studios such as Orangetheory and CorePower Yoga, and the daily conveniences of a barber shop and nail salon. This dynamic environment creates a uniquely attractive workspace for tenants in the region.
Recent developments adjacent to the property include hundreds of multifamily units by AvalonBay and Essex, with additional plans for 500 new multifamily units by EAH Housing and AvalonBay, contributing to the area’s continued growth.
“This acquisition is a prime example of our strategy to invest in dynamic submarkets where innovation and community intersect,” added Jason. “We see significant long-term potential in this property, and we’re poised to enhance its role within Emeryville’s thriving landscape.”
About Blox Ventures
Blox Ventures is a leading commercial real estate operator and investment firm specializing in acquiring, repositioning, and managing high-quality properties in technology-driven markets. Founded in 2015 and based on San Francisco, Blox Ventures and its principals have transformed over 6 million square feet of real estate—valued at more than $3 billion—into state-of-the-art spaces for working, living, and shopping. These properties include headquarters, R&D facilities, and flagship locations for world-class companies. With a disciplined investment approach and a strong commitment to fostering economic growth and enhancing community well-being, Blox Ventures emphasizes innovation, excellence, and the transformative power of real estate to redefine the commercial landscape. For more information about Blox Ventures, visit www.bloxventures.com.
