Former Wells Fargo tower readies for redevelopment after historic designation
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: $2.5B across 11 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Suburban office vacancy finally stops climbing as old buildings disappear
Denver Tech Center office tower acquired by two Colorado firms
GCCs gain share of India's office leasing as demand mix shifts
Top 5 Office Transactions in Nashville
Slatt Capital Arranges $8MM Refinance of 55,000 SQFT Multi-Tenant Office Building in Redwood City
Slatt Capital lined up $8 million in refinancing for a 54,820-square-foot multi-tenant office building in Redwood City, where rolling leases and empty suites failed to scare off a field of insurance company and bank l…