PG&E crafts nearly billion-dollar deal to buy Oakland HQ, nearby site

OAKLAND — PG&E has completed a nearly billion-dollar purchase of its downtown Oakland headquarters tower and an adjacent property in a deal the utility giant hopes will help save money for its customers.

All told, the power titan paid $985.5 million for an office high-rise and nearby office and retail building at 300 Lakeside Drive in downtown Oakland, according to documents filed on June 3 with the Alameda County Recorder’s Office.

Oakland-based PG&E has established its...