Former RiverRock Headquarters Changes Hands for $707 per Square Foot
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: $2.4B across 9 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
2392 Morse Ave., a 22,193-square-foot Class A office building in Irvine, sold for $15.7 million, or $707 per square foot. Economos DeWolf secured the buyer and put the property into escrow before it was formally broug…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Taco Bell’s Office Lease Largest in Orange County, Calif., in Five Years
Orange County, Calif.’s office market improved again in the third quarter thanks to a diverse set of corporate leases. Total vacancy improved to 15.4 percent, down from 17.1 percent a year ago, while average asking re…
Colliers Adds Rachel Bliss to Downtown Boston Leasing Team
Rachel Bliss has joined the Boston office of Colliers as VP on its Downtown Urban Leasing team. Bliss brings extensive local market knowledge and experience across tenant representation. In her new role, Bliss will ad…
News | Stonelake starts work on luxury Houston office tower without any tenants
Northern Virginia Office Vacancy Falls Again as AI, Defense Demand Builds
Northern Virginia’s office market continued to tighten in the third quarter as more demand from artificial intelligence, technology and defense tenants bolstered weaker leasing activity. The market posted 672,378 squa…
Alera Group Signs 13,668 SF Office at Lease in Northwest San Antonio
SAN ANTONIO — Alera Group has signed a 13,668-square-foot office lease in northwest San Antonio. The insurance and financial services company is taking space on the 10th floor of Concord Plaza, a development that cons…
Lincoln Moving Ahead on Uptown Mixed-Use Project
Lincoln Property Co. expects to break ground on an office tower of more than 500,000 square feet later this year or in early 2028. To be called 28Hundred Fairmount, it will anchor an even wider development the compan…