Newmark Advises on Sale, Financing of Redmond Offices
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. Washington office has been a leading conversion market in the cycle, with multiple downtown Class B assets entering office-to-residential programs in the last twelve months. 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 44th Washington story tracked on the wire in October 2026. All Washington coverage →
- Disclosed office deal value tracked in October 2026: $4.6B across 20 reported transactions. All Office coverage →
- 90 stories mentioning Newmark on the wire in the past 90 days. Newmark coverage →
Computed from Real Estate Trail’s own tracked coverage
Newmark assisted KBS with the sale of Offices at Riverpark, a 107,029-square-foot office and medical office building located at 15809 Bear Creek Parkway in downtown Redmond, Washington. Newmark Co-Head of U.S. Capital…
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