Canopy Health Parent Bay Area Accountable Care Network Signs 7,000 SQFT Lease at 2100 Powell Street in Emeryville
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
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On the RET wire
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The Bay Area Accountable Care Network, the UCSF Health and John Muir Health venture that does business as Canopy Health, has signed a new 7,000-square-foot lease at 2100 Powell Street in Emeryville, the same waterfron…
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