There's real estate deals, and then they are real estate deals. An entire block of Oakland is currently for sale. We know it's an over-heated market and all, but whoa. That's massive.
The San Francisco Business Times passes along the details. Over decades, one family-owned real estate company, Valva Realty, slowly bought up all the parcels of land surrounding its offices. Now, after the last of the second-generation owners died, the family is looking to offload it. It's likely that apartment housing will go in there.
The real estate is located in an area of downtown Oakland bounded by 14th and 15th Streets and Castro Street and Martin Luther King Jr. Way. It's right by the 980 freeway, city hall, and the 19th Street BART Station. In other words: primo.
Still, the news has us scratching our heads just a little bit. Because the rules say that once you buy up all the properties in a block, you get to build houses and then a hotel there. You're not supposed to sell once you get a monopoly.