CBRE Selected as Advisor for Sale of Office, Mixed-Use Asset in Philadelphia
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 October 2026: $20.2B across 49 reported transactions. All Office coverage →
- 102 stories mentioning CBRE on the wire in the past 90 days. CBRE coverage →
Computed from Real Estate Trail’s own tracked coverage
CBRE has been selected as the exclusive advisor for the sale of 2400 Market, a 594,945-square-foot trophy office and mixed-use asset that anchors Philadelphia’s Market West submarket and provides a gateway to Un…
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