Cannae Partners has acquired EmeryTech, a creative office campus located at 1400 65th St. in Emeryville, in a sale arranged by Newmark. The transaction involved an undisclosed price, and the seller was not identified. Newmark served in a dual representation role on the assignment, working with both the buyer and the unnamed seller.
The Newmark capital markets team was led by Executive Vice Chairman and President, Western Region Capital Markets Steve Golubchik, Vice Chairman Edmund Najera and Senior Managing Director Darren Hollak. The brokers represented Cannae Partners while also advising the seller in the disposition of the property, which adds a sizable creative office asset to Cannae Partners’ portfolio.
EmeryTech comprises 234,016 square feet of creative office space. The campus has recently undergone substantial investment, with more than $37.9 million allocated to capital improvements. These upgrades position the property as an institutional-quality asset and are a central feature of its current investment profile.
The property is 66.9% leased and anchored by Premier Nutrition. Premier Nutrition recently executed a long-term, 10-year lease at EmeryTech, providing a meaningful layer of contracted income to the rent roll. The combination of a credit anchor tenant and remaining lease-up potential appears to be a key element of the business plan for the new ownership.
Commenting on the transaction, Golubchik noted that EmeryTech offers the characteristics investors are seeking in the East Bay office market, including institutional-quality construction, recent capital investment, durable cash flow and a location connected to the region’s innovation economy. He added that as office fundamentals continue to stabilize, sourcing a differentiated creative campus at a cost basis well below replacement cost is becoming more challenging, and that Cannae Partners acted decisively to secure the opportunity.
The acquisition underscores ongoing investor interest in well-improved, partially leased creative office assets in the East Bay, particularly those that pair significant recent capital investments with established tenancy and remaining upside through additional leasing.
