Puget Sound’s Office, Industrial Markets Holding Strong
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: $5.6B across 23 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
Puget Sound’s office and industrial markets are showing encouraging numbers, according to third quarter 2026 reports from CBRE. The office market posted its strongest occupancy gains in years, while the industrial sec…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Heisman inks lease to relocate HQ to Silverstein FiDi office tower
Silverstein Catches Hail Mary Lease With Heisman at 120 Broadway
Heisman , the organization responsible for bequeathing the holy grail of trophies to college football players, is moving to an equally prestigious office. Heisman signed a 10-year lease for 5,000 square feet at Silver…
Downtown Brooklyn's 1925 Office Tower Reborn as 71-Unit Condo at The Bowen
New York State Unified Court System Signs 16,000 SF Office Lease in Long Island
GARDEN CITY, N.Y. — The New York State Unified Court System has signed a 16,000-square-foot office lease in the Long Island community of Garden City. The space is located on the third floor of Garden City Center, a 20…
Cushman & Wakefield Arranges $115M Sale of Chicago Office Tower
CHICAGO — Cushman & Wakefield has brokered the $115 million sale of 225 W. Wacker Drive, a Class A office tower overlooking the Chicago River in downtown Chicago. Prime Finance and Hines purchased the property from Sp…
Redline, WDIP Secure Refinancing for 87,380 SF Creative Office Property in North Charleston
NORTH CHARLESTON, S.C. — Redline Property Partners and Walker & Dunlop Investment Partners (WDIP) have secured an undisclosed amount of capital for the refinancing of Port 26, an 87,380-square-foot creative office pro…