CBRE Brokers $19.7M Sale of Two-Building Office Park in Peoria, Arizona
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.
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On the RET wire
- Disclosed office deal value tracked in November 2026: $4.6B across 16 reported transactions. All Office coverage →
- 99 stories mentioning CBRE on the wire in the past 90 days. CBRE coverage →
Computed from Real Estate Trail’s own tracked coverage
PEORIA, ARIZ. — CBRE has arranged the sale of Thunderbird 101, a two-building office park at 14050 and 14100 N. 83rd Ave. in Peoria. An undisclosed seller sold the asset to a buyer group including Holualoa Cos. and Da…
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