Marcus & Millichap Brokers $24.5M Sale of Medical Office Building in Germantown, Tennessee
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 August 2026: $17B across 70 reported transactions. All Office coverage →
- 156 stories mentioning Marcus & Millichap on the wire in the past 90 days. Marcus & Millichap coverage →
Computed from Real Estate Trail’s own tracked coverage
GERMANTOWN, TENN. — Marcus & Millichap has brokered the $24.5 million sale of Conrad Pearson Clinic, a 33,777-square-foot medical office building located in Germantown, roughly 21 miles southeast of Memphis. Spencer K…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Newmark Negotiates $26M Sale of Office Tower in Norfolk, Virginia
NORFOLK, VA. — Newmark has negotiated the $26 million sale of 150 West Main Street, a 233,772-square-foot trophy office tower located in downtown Norfolk’s Waterside District. Kawa Capital Management was the buyer. Ma…
Condyne Capital Receives Approval for Office-to-Residential Conversion Project in Windsor, Connecticut
WINDSOR, CONN. — Metro Boston-based developer Condyne Capital Partners has received approval for an office-to-residential conversion project in Windsor, located north of Hartford. Designed by Maugel Destefano Architec…
Olmstead, Vertex Buy 302,000 SF Office Building in Midtown Manhattan
NEW YORK CITY — A partnership between two locally based owner-operators, Olmstead Properties and Vertex, has purchased 19 West 44th Street, a 302,000-square-foot office building in Midtown Manhattan. The 18-story buil…
Ameriprise Financial Signs 37,704 SF Office Lease Renewal in Lower Manhattan
NEW YORK CITY — Ameriprise Financial Inc. has signed a 37,704-square-foot office lease renewal in Lower Manhattan. The financial advisory firm will keep its space on the 78th floor of One World Trade Center, where it…
The Martin Group’s 28,000 SQFT Arbello Office Project Nears Q4 Delivery in Downtown San Mateo
The Martin Group is preparing to deliver Arbello, a 28,100-square-foot speculative office building in Downtown San Mateo, one of only two projects that make up the entire office construction pipeline on the San Franci…