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Cannae Partners buys Emeryville creative office campus EmeryTech

The 234,016-square-foot EmeryTech campus has more than $37.9 million in recent capital improvements and is 66.9% leased, with Premier Nutrition on a new 10-year lease.

Reported · Written up by our desk · Commercial

Cannae Partners has acquired EmeryTech, a creative office campus at 1400 65th St. in Emeryville, after Newmark arranged the sale with terms not disclosed, according to ConnectCRE.

The campus totals 234,016 square feet and benefits from more than $37.9 million in recent capital improvements. It is currently 66.9% leased, anchored by Premier Nutrition, which recently executed a long-term 10-year lease.

ConnectCRE reports that Newmark executives Steve Golubchik, Edmund Najera, and Darren Hollak represented the buyer and the undisclosed seller. Golubchik said EmeryTech met investors’ criteria for institutional-quality construction, recent capital investment, durable cash flow, and a location tied to the East Bay innovation economy.

Golubchik added that as office fundamentals stabilize, acquiring a differentiated creative campus at a basis well below replacement cost has become harder to find, and that Cannae moved decisively to secure the property.

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