Newmark Advises on the Transformative Redevelopment of Palace Theater into BayTech Charter School’s New Campus in Oakland

September 25, 2025 9:00 AM

Newmark announces it advised on the completion of the renovation and sale of the historic Palace Theater at 1445 23rd Avenue in Oakland, California, to Bay Area Technology School (BayTech), a tuition-free public charter school serving 250 students in grades 6 through 12. The new campus, which welcomed its first students on August 5, 2025, represents a significant investment in Oakland’s Fruitvale neighborhood, turning a long-vacant property into a vibrant hub for education and community revitalization. BayTech, which has served Oakland for over 20 years without ever owning its own property, now has a permanent home for the first time.

In 2023, Newmark Director Shawn Klein and Haley Klein of Maven Properties began collaborating with the developer Blueprint (formerly Pacific Charter School Development), an organization specializing in identifying and developing charter school facilities, to secure the 1920s-era Palace Theater for redevelopment. Built in 1923 as a vaudeville venue and later used as a movie theater and church, the property had been vacant since 2013. Following a two-year renovation, the theater was reimagined as a state-of-the-art educational facility and sold to BayTech, earning the 2025 CoStar Impact Award for Redevelopment of the Year in the East Bay/Oakland.

“This redevelopment is a powerful step toward revitalizing Oakland’s Fruitvale neighborhood,” said Shawn Klein. “Projects like this demonstrate a commitment to Oakland’s potential, fostering growth and creating opportunities for the community to thrive once again. We’re honored to play a role in this transformative effort that will inspire students and uplift the area for years to come.”

The extensive renovation converted the theater’s stage into a gymnasium, added a third floor with eight new classrooms and preserved historic elements like original columns, fountains and ceiling details. The former parking lot was transformed into a turfed outdoor space for students, with an additional lot across the street designated for teacher and parent parking. Despite challenges, including structural issues discovered during construction, the project was completed on August 1, 2025, just in time for the new school year.

“Creating safe and inspiring spaces for students is at the heart of Blueprint’s mission,” shared Blueprint’s Northern California Executive Director Jennifer Afdahl Rice. “Everyone at Blueprint worked tirelessly to bring this vision to life—especially through the creativity and leadership of our Project Director, Mary Grace Houlihan. This milestone wouldn’t have been possible without the trust of BayTech and the collaboration of our incredible partners—previous Oakland Mayor Libby Schaff, Councilmember Noel Gallo, Local Initiative Support Corporation (LISC), Raza Development Fund (RDF), Wells Fargo, Overaa, Artik, Art and Architecture, Newmark and Maven Properties.”

“After 20 years without a permanent home, BayTech’s new campus is a beacon of hope for our students,” said Dr. Seth Feldman, Executive Director of BayTech. “Thanks to our relationship with Newmark, Maven Properties and Blueprint, this historic theater now provides a modern space for STEM education and community growth.”

The school, which supports a student body where over 85% come from economically disadvantaged backgrounds and 3% experience homelessness, offers a STEM-focused, college-preparatory education with a 100% graduation rate and UC A-G readiness.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended June 30, 2025, Newmark generated revenues of over $2.9 billion. As of June 30, 2025, Newmark and its business partners together operated from 165 offices with over 8,400 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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