Cannae Partners Acquires EmeryTech Office Property In Emeryville For $55.5 Million

Cannae Partners acquired a creative office property located at 1400 65th Street, Emeryville, CA. The asset, known as EmeryTech, spans 234,016 square feet and was purchased for $55.5 million. The property was acquired from Blackstone, which had previously purchased it for $126.5 million in 2019.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $55,500,000
• Square Footage: 234,016
• Price Per Square Foot: $237
• Buyer: Bob Basso & Jamin Seid - Cannae Partners
• Seller: Stephen A. Schwarzman - Blackstone
• Brokers: Steven Golubchik, Edmund Najera & Darren Hollak - Newmark

The transaction highlights the involvement of key individuals including Bob Basso and Jamin Seid representing the buyer, while Stephen A. Schwarzman was the seller. The brokers from Newmark played a crucial role in facilitating the deal, ensuring both parties were represented in the transaction as Cannae targets increasing occupancy for the recently renovated office campus.