Google Seals 160,000 SQFT Renewal at Sobrato’s 1255 Pear Avenue in Mountain View, Savills Data Shows
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: $6.1B across 28 reported transactions. All Office coverage →
- 29 stories mentioning Savills on the wire in the past 90 days. Savills coverage →
Computed from Real Estate Trail’s own tracked coverage
Savills' third-quarter tally confirms that Google has completed its renewal of the entire Sobrato-owned office building at 1255 Pear Avenue in Mountain View, a deal that was still being negotiated in mid-September and…
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