Mesa Expected to Okay $3B Legacy Park Project
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: $7.2B across 32 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
The Mesa City Council is expected to move ahead Monday on a $3 billion venture that will include hospitality, apartments, office and restaurant offerings. Vestar will be helming the project. Dubbed Legacy Park, The Ph…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Shorenstein Buys Dallas Preston Center Office Tower
Wohio Lands Manhattan Office Lease
SL Green Sells Lower Manhattan Office Building for $226M
NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has sold 110 Greene Street, a 223,000-square-foot office building in Lower Manhattan, for $226 million. The 13-story building was originally constructed as two structu…
McDermott Will & Schulte Signs 150,000 SF Office Lease in Midtown Manhattan
NEW YORK CITY — McDermott Will & Schulte has signed a 150,000-square-foot office lease in Midtown Manhattan. The global law firm will occupy the entirety of floors 31 through 37 at 343 Madison Avenue, a 46-story, 930,…
Esperovax Announces U.S. Patent Allowance for In Vivo Therapeutic Protein Expression Platform
PLYMOUTH, Mich., Sept. 11, 2026 /PRNewswire/ -- Esperovax, Inc. today announced that the United States Patent and Trademark Office (USPTO) has issued a Notice of Allowance for U.S. Patent Application No. 18/038,673, e…