Poseidon Aerospace Takes 111,000 SQFT 1941 Navy Hangar at Alameda Point to Build Pilotless Cargo Planes
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
Autonomous cargo aircraft developer Poseidon Aerospace has taken 111,000 square feet in a World War II-era Navy hangar at 1190 W Tower Avenue on Alameda Point, a single deal that made up all of Alameda's third-quarter…
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