To Lease, Perchance To Buy Jack London Inn

OAKLAND, CA— Ivy Oakland LLC has entered into a long-term lease— with option to purchase— with property owner Jack London Inn LP for the 110-room Jack London Inn here. Identified as the company’s first move to assemble a portfolio of boutique hotels, Ivy Oakland reportedly plans to invest $3 million in renovations to reposition the Jack London Inn accordingly. As noted by Ivys managing member Henry Bose: “This newly conceptualized hotel should set the right tone for future operations as we continue to add properties.” The full-service Jack London Inn is located at the gateway to Jack London Square. That district— on Oaklands redeveloped waterfront— is marked by a bevy of jazz nightclubs, entertainment venues, retail shops and restaurants. The hotel is also proximate to Oaklands revitalized downtown business center. Jeffrey Roe, managing director in Insignia/ESG Hotel Partners San Francisco office, negotiated the transaction on behalf of the tenant, Ivy Oakland. The transaction represents the 31st hotel deal completed by Insignia/ESG Hotel Partners since the attacks of Sept. 11.