Menlo Park’s Measure P Fight Tops $478,000 as Downtown Parking-Lot Housing Plan Heads to Voters
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. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · Real Estate Trail Editorial
With ballots going out Oct. 5, Menlo Park’s Measure P — a citizen initiative requiring voter approval before the city redevelops any of its eight downtown parking lots — has drawn nearly $478,000 in campaign money and…
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