East Bay Office Campus Sells at Steep Discount Amid Market Downturn

A major tech and life sciences campus in Emeryville just changed hands for a fraction of what it was worth just a few years ago. The Ratio Innovation Campus, located at 6401 Hollis Street, was purchased by a New York-based investment group for $63.5 million. That price tag is a sharp drop from the $129.5 million the previous owner, Beacon Capital Partners, paid back in 2020.

The steep discount doesn't stop there. The sale price is also 57.6% below the property's assessed value of $149.8 million as of January 2026. This kind of markdown tells a story about the struggling office market in the East Bay area.

The campus itself is a large facility, covering 242,000 square feet of office and research space. Beacon Capital Partners had invested $24 million into upgrades in 2022, adding a new courtyard, modernized lobbies, and updated amenities to attract tenants.

The new owner is connected to Jonathan Scheinberg, who runs Outshine Properties out of New York City. His background focuses on life science and healthcare real estate investments. To help fund the purchase, Scheinberg's group secured a $49 million loan from Athene Annuity & Life Co.

This sale highlights how commercial real estate values have shifted dramatically in recent years, especially for office spaces that once commanded much higher prices.