OAKLAND — A property near Jack London Square in Oakland that includes a diner that has operated for several decades there was bought by a group led by a business executive who is active in East Bay real estate.
Oakland-based entrepreneur and real estate executive Ted Dang heads up ownership groups that paid roughly $4 million for a site at 229 Broadway where Buttercup Diner & Bar operates, according to documents filed on Aug. 12 with the Alameda County Recorder’s Office and the city transfer taxes for the transaction.
The seller was an affiliate controlled by ArtHaus Partners. The ArtHaus firm, headed up by real estate executive Riaz Taplin, converted a motel into affordable housing on an adjacent parcel at 233 Broadway.
The Buttercup Diner & Bar in Oakland is part of a family-owned business that also has a presence in Walnut Creek, Concord and Vallejo. David and Debbie Shahvar co-founded the dining chain.
“We have been in Oakland since 1994 and the Bay Area since 1988,” Ben Shahvar, one of the family members who co-owns Buttercup Diner, said in an interview with this news organization. “We have a long-term lease and we have no plans to change anything or leave.”
Dang is a founder of East Bay Asian Local Development Corp., an active nonprofit that develops affordable housing.
This news organization reached out to Dang about the restaurant property’s purchase.
“We look forward to working with the new landlord,” Ben Shahvar said.