Oakland, CA – On Monday, November 18th, Oakland Roots and Soul SC were informed by Prologis, a large real estate investment firm, that the company would no longer pursue the transactions related to the Club’s training facility. These transactions were expected to close two weeks ago and would have resulted in the sale of the training facility to Prologis, along with an agreement to lease the facility to Roots and Soul.
For over nine months, Roots and Soul, alongside Prologis, worked with the City of Oakland and the County of Alameda to complete due diligence and finalize the purchase of the facility. The goal was to provide a long-term home for the Men’s, Women’s, and development teams.
This unexpected and disappointing decision by Prologis has prompted the Club, the City of Oakland and County of Alameda to come together and work toward a solution that would achieve the same goal of retaining the facility as Roots and Soul’s long term home. The Club has proposed to step in as the designated buyer as it finds a new financial partner for the transaction.
We remain committed to finding a solution that supports our teams, supports the financial future of the City and the County, and reflects the values of Oakland first, always.
