Tishman Speyer Trades Mountain View Office Building for $121.5M
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 September 2026: $1.7B across 17 reported transactions. All Office coverage →
- 27 stories mentioning Tishman on the wire in the past 90 days. Tishman coverage →
Computed from Real Estate Trail’s own tracked coverage
Tishman Speyer sold 400 Castro Street, a 100 percent leased, Class A office building in downtown Mountain View, California. Spear Street Capital was the buyer in the $121.5 million transaction. Tishman Speyer develope…
External link. Real Estate Trail does not republish source content.
Related coverage — Office
Related Secures $65M Refi for Office Property in L.A.’s South Bay
The owners of a 301,000-square-foot Class A office property in Los Angeles’ South Bay have secured refinancing for the property. Owners Related Companies and Cruzan landed the $64.7 million loan from Waterfall Asset M…
Fidelity to Move HQ to Boston’s Commonwealth Pier
Fidelity will relocate its official headquarters to South Boston’s Commonwealth Pier as the financial services behemoth preps to return its employees to the office full-time. A Fidelity spokesperson told the Boston Bu…
Tishman Speyer Sells 138,000 SQFT Downtown Mountain View Office Building to Spear Street Capital for $121.5MM
Tishman Speyer has cashed out of one of its longest-held Silicon Valley assets, handing 400 Castro Street to Spear Street Capital at a price that ranks among the strongest per-foot outcomes the Mountain View office ma…
Hartford’s 12-story Metro Center office tower headed to market amid foreclosure lawsuit
HR Tech Firm Gusto Expands to 76K SF at Vornado’s Penn 1
Human resources technology company Gusto has doubled its footprint at Vornado Realty Trust ’s 2.5 million-square-foot Midtown office tower Penn 1 , also known as 1 Pennsylvania Plaza . The deal includes a 13-year leas…