Back Nine Golf Leases 4,000 SQFT at The Swig Company’s 444 Castro for Mountain View Indoor Golf Venue
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- Disclosed office deal value tracked in September 2026: $13.3B across 62 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
Franchise indoor golf operator Back Nine Golf has claimed 3,600 square feet on the ground floor of The Swig Company's 12-story 444 Castro tower, adding an experiential retail draw to a Downtown Mountain View office bu…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Skanska divests second phase of H2Offices in Budapest, Hungary, for EUR 98M, about SEK 1.1 billion
STOCKHOLM, Sept. 25, 2026 /PRNewswire/ -- Skanska has divested the second phase of the office complex H2Offices in Budapest, Hungary, for EUR 98M, about SEK 1.1 billion. The buyer is ERSTE Open-Ended Real Estate Inves…
JLL Suggests that Energy Efficiency Can Be a CRE Operating-Cost Advantage
What was once considered an effort for sustainability is now an essential part of the commercial real estate operating budget. The main reason is money. A recent JLL article reported that the most efficient office bui…