Northern Delaware office vacancy rate drops in 3rd quarter
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 November 2026: $3.7B across 12 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
External link. Real Estate Trail does not republish source content.
Related coverage — Office
675 Third Avenue Gets $231M Loan for NYC Housing Conversion
State education department's HQ moving to Baltimore office tower
E-Trading Firm Octaura Signs on for Full Floor at 111 W. 33rd Street
Empire State Realty Trust, Inc. (ESRT) has signed Octaura Holdings LLC, an electronic trading, data & analytics provider, to a 28,914-square-foot office space on the entire 17th floor at 111 W. 33rd St. Lease terms we…
CBRE Closes Sale of Shallow-Bay Industrial in New Haven County
The CBRE team of Jeff Dunne, Steve Bardsley and Travis Langer in collaboration with Matthew O’Hare of CBRE’s New Haven office completed the $10-million sale of 260-284 Quarry Rd. in Milford, CT. CBRE represented the s…
ESRT Posts Strong Q3 Office Activity, but Empire State Building Visits Remain Low
Empire State Realty Trust (ESRT) had a successful third quarter when it comes to office sales and leasing, but that didn’t do much to offset plummeting visitation numbers at the trust’s eponymous Empire State Building…
Metro Loft, David Werner Secure $231M Loan for Midtown East Residential Conversion
Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conv…