The City of San Ramon has closed on a sale agreement for the four City Hall parcels at 2220, 2222, 2226 and 2228 Camino Ramon. The final sale price to OlymBuilder Investment Company, Inc for these parcels was $6.1 million.
San Ramon staff originally placed these parcels on the market for sale in January of 2016, four months prior to the move into the City’s new City Hall Building at 7000 Bollinger Canyon Road. After the first purchase agreement with another buyer fell out of escrow, OlymBuilder Investment Company, Inc. seized the opportunity to purchase all four parcels and move their operations to the single story office building complex.
The proceeds from the sale of the building will be used to fund the renovation of the San Ramon library. “The City Council is very pleased that the growth in San Ramon’s commercial real estate market allowed us to fund the majority of our newly renovated library through a one-time revenue event,” commented Mayor Bill Clarkson. “Over a twelve month period we were able to open a new City Hall, sell our old City Hall and open what is essentially a new library, all of it without taking on new debt for the Community.”
The renovation of the library building will be completed in December of 2016 after which library staff will prepare the newly renovated library for a public opening in March of 2017.