Instacart Takes 26K SF at ESRT’s 111 West 33rd Street
Why this matters
Commercial real estate continues to digest a multi-year reset in cost of capital. Transaction velocity is below the 2019-2021 trend but improving, cap rates have stabilized across most stabilized property types, and the bid-ask gap has narrowed materially in the past two quarters. Sponsors with permanent capital and operating platforms have an advantage in the current execution environment. 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. The next twelve months will continue to reward underwriting discipline and operational sophistication over balance-sheet aggression.
Editorial analysis · AI-assisted
On the RET wire
- The 95th San Francisco story tracked on the wire in July 2026. All San Francisco coverage →
Computed from Real Estate Trail’s own tracked coverage
Grocery delivery app Instacart is getting a bigger home in Midtown. The San Francisco-based technology company has signed a 26,134-square-foot lease at Empire State Realty Trust (ESRT)’s 111 West 33rd Street , the lan…
External link. Real Estate Trail does not republish source content.
Related coverage — San Francisco
TMG, Grove and Lone Star Acquire 2.2MM SQFT Silicon Valley R&D Portfolio for $1.2B
TMG and Grove step in as operating partners on a 140-acre, six-campus R&D platform even as vacancy climbs and per-square-foot pricing lags well behind its five-year average across Silicon Valley’s Golden Triangle. TMG…
TMG, Grove and Lone Star Acquire 2.2MM SQFT Silicon Valley R&D Portfolio for $1.2B
TMG and Grove step in as operating partners on a 140-acre, six-campus R&D platform even as vacancy climbs and per-square-foot pricing lags well behind its five-year average across Silicon Valley’s Golden Triangle. TMG…
KKR Buys 636-Unit Lynhaven Apartments in San Jose for $346.5MM
San Jose’s apartment market absorbed its third above-average per-unit sale in recent weeks as KKR paid $346.5 million for the 636-unit Lynhaven, a deal that signals investors are betting rent growth in Silicon Valley’…
Greystar sells 636-unit San Jose complex for $346M as rents climb
Prologis to Announce Third Quarter 2026 Results October 15, 2026
SAN FRANCISCO, Sept. 3, 2026 /PRNewswire/ -- Prologis, Inc. (NYSE: PLD) will host a webcast and conference call with senior management to discuss its third quarter results, current market conditions and future outlook…
Joint Venture Picks Up 50-Building Silicon Valley R&D Portfolio
A joint venture of TMG Partners, Grove Real Estate Partners and an affiliate of Lone Star Real Estate Fund VII acquired a 2.2 million-square-foot portfolio of R&D assets spread across six campuses in Silicon Valley. C…