Harrison Street Lists Stanford Research Park’s Newest Building, 85,000 SQFT 3380 Coyote Hill, for Sale in Palo Alto
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 September 2026: $458.6M across 2 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
Harrison Street Real Estate has enlisted Eastdil Secured and Savills to sell 3380 Coyote Hill Road, the newest and fully leased Class A office building in Palo Alto's Stanford Research Park, five years after paying $1…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Downtown Denver Office Market Needs Big Investment To Thrive
Another wave of newcomers wants South Florida office flags — so why is leasing “kind of flat”?
Veeva Signs 62,223 SF Office Lease at The PENN District in Midtown Manhattan
NEW YORK CITY — Veeva has signed a 62,223-square-foot office lease at The PENN District, a two-building, 4.4 million-square-foot development in Midtown Manhattan. The provider of cloud software, AI, data and consultin…
Gatsby Florida Inks $118.6M Construction Loan for Palm Beach Gardens Offices, Retail
Berkadia arranged a $118.6 million loan on behalf of Gatsby Florida for the construction of The Palm, Palm Beach Gardens. Upon completion in 2028, the eight-story, 200,000-square-foot development will deliver office a…
Tishman Speyer Receives $340M Loan for Refinancing of Chicago Office Complex
CHICAGO — Tishman Speyer has received a $340 million CMBS loan for the refinancing of The Franklin, a two-tower office complex in Chicago’s West Loop. JPMorgan led the single asset single borrower (SASB) loan with Ban…
KPMG Cuts San Francisco Footprint by a Third in Move to 96,300 SQFT at 505 Howard St.
KPMG’s new building puts it inside the same tower as roughly 100,000 square feet of Anthropic office space, part of an AI company footprint in the immediate area that now tops 900,000 square feet across two buildings.…