Grosvenor Puts 101,000 SQFT 560 South Winchester Office Building Beside Santana Row Up for Sale After 13-Year Hold in San Jose
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. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. 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
- The 52nd San Francisco story tracked on the wire in October 2026. All San Francisco coverage →
- 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
Grosvenor Americas is calling for offers on 560 South Winchester, a six-story, LEED Gold office building on the Santana Row block that it bought for $47.1 million in 2013 and that Santa Clara County now assesses at ro…
External link. Real Estate Trail does not republish source content.
Related coverage — San Francisco · Office
San Francisco office leasing topped its pre-pandemic level amid a boom in AI-driven leasing by tech firms.
San Francisco Office Sales Hit $2.6B Year to Date as Q3 Prices Split From $232 to $750 Per SQFT
San Francisco office buyers spent $959 million across 16 transactions in the third quarter, bringing 2026 volume to $2.6 billion, but the six largest deals ranged from $232 to $750 per square foot, with occupied tower…
SFF Realty Partners Buys 416,000 SQFT Zoom-Anchored The Almaden in Downtown San Jose for $82MM
At a reported $197 per square foot, The Almaden traded at about 42 percent below Silicon Valley’s third-quarter average office price, and at less than half of KBS’s total basis. The sale of The Almaden, a three-buildi…
KBS Trades Zoom’s Global HQ in Largest Multi-Tenant San Jose Office Sale Since Pandemic
KBS has closed the sale of The Almaden, a three-building, 416,126-square-foot Class A office campus at 55 Almaden Blvd. in downtown San Jose, anchored by Zoom’s global headquarters. The Almaden was owned by KBS…
AI Financial Platform Brex Inks 94K-SF Lease at GFP’s 200 Varick Street
Brex , an AI-powered financial platform, is moving into a new office in Manhattan’s Hudson Square neighborhood. The San Francisco-based artificial intelligence firm, which provides corporate cards, expense management…
Academy of Art Moves to Foreclose on Tony Garnicki Affiliate Over $3.6MM Seller Loan at 2300 Stockton in San Francisco
Four months after Academy of Art University sold its former office building at 2300 Stockton Street to an affiliate of investor Tony Garnicki, the school has moved toward foreclosure on the property, recording a notic…