Monterey County Lands $9.8MM Pentagon Grant to Rebuild Jolon Road, the Only Route Into Fort Hunter Liggett
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
Monterey County's public works department secured a $9.8 million federal grant to rehabilitate 8.7 miles of Jolon Road, the 1940s-era two-lane route that serves as the only road into U.S. Army Garrison Fort Hunter Lig…
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