Officials rescind construction extension for West Palm Beach office tower
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: $6.2B across 32 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
News | Historic Chicago office tower trades for fraction of former price
Kastle Becomes Bilt's First Commercial Real Estate Partner, Turning Office Access Into an Employee Benefit
Equity Management Firm Forest Avenue Capital Inks 7K-SF Lease at 45 East 53rd Street
Park 53 , a 19-story boutique office property at 45 East 53rd Street in Midtown Manhattan, has welcomed three new tenants across space on three floors, spanning a total of 19,145 square feet, Commercial Observer has l…
Cushman & Wakefield Completes Sale of 41-Story Chicago Office Tower
Cushman & Wakefield announced the sale of 121 W. Wacker, a landmark 41-story office tower overlooking the Chicago River and located at the gateway to Chicago’s LaSalle Street corridor. The 441,030-square-foot pr…
Townhouse Brokerage Leslie Garfield Inks Office Lease in Brooklyn Heights
Leslie Garfield , a New York City-focused townhouse brokerage, has relocated to a larger office along Montague Street in Brooklyn Heights, Commercial Observer has learned. Founded 50 years ago by Leslie J. Garfield, w…