Shorenstein Signs 78K SF in Office Leases at Repositioned D.C. Building
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 66th Washington story tracked on the wire in October 2026. All Washington coverage →
- Disclosed office deal value tracked in October 2026: $21.3B across 62 reported transactions. All Office coverage →
Computed from Real Estate Trail’s own tracked coverage
Shorenstein announced Monday that it has secured approximately three office leases totaling 78,000 square feet at its recently repositioned building in Washington, D.C.’s East End. Policy analysis and consulting firm…
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