Top 10 Office Deals & Market Movements — Week of 2026-08-10
Week of 2026-08-10 · Published August 10, 2026
Market Context
The U.S. office sector continues to navigate a bifurcated landscape in August 2026, characterized by persistent distress in older, commodity-grade assets alongside a steady recovery in leasing activity for high-quality, amenity-rich properties. While a significant 'maturity wall' of debt continues to drive strategic pivots toward residential conversions and loan extensions, major markets are seeing renewed momentum as tenants commit to larger office footprints.
Rankings
61 Broadway, New York City
$475M · 33-story tower · residential conversion
RXR and One Investment Management secured substantial financing to convert this 33-story office building into a 796-unit residential tower, highlighting the scale of institutional capital flowing into adaptive reuse.
1090 Vermont St. NW, Washington, D.C.
$23.1M · 160,000 sq. ft. · residential conversion
Developer Duball and an institutional partner acquired this 160,000-square-foot office building for conversion into a 150-unit apartment complex, reflecting the ongoing trend of urban office-to-residential repositioning.
205 West Wacker Drive, Chicago
$15M · 23-story tower · deed-in-lieu
Titan Power Overseas Investment acquired this 23-story high-rise via deed-in-lieu of foreclosure, with plans for a partial multifamily conversion to address apartment demand.
3 World Trade Center, New York City
438,000 sq. ft. · lease extension
Uber secured a major lease extension, underscoring the trend of large tenants committing to trophy assets even as broader Manhattan leasing volume faces headwinds.
Brooklyn Medical Office Building, New York
$90M · medical office
A healthcare REIT acquired a medical office asset, demonstrating the continued resilience and demand for specialized medical office space in urban markets.
Downtown Seattle Office Market
Market-wide · increased large-tenant activity
Leasing activity in Seattle accelerated in August 2026 as tenants began committing to larger office footprints, signaling a shift toward stabilization in the Pacific Northwest.
Schaumburg Towers, Chicago
882,071 sq. ft. · 15% discount
The sale of this large-scale office asset at a 15% discount highlights the ongoing price discovery and distress affecting suburban office markets.
Denver Office Complex (Distressed Sale)
$5.3M · down from $176M · residential conversion
A Denver office complex was sold for residential conversion at a significant loss, illustrating the extreme value reset occurring in secondary market office assets.
Chicago Office Building (Distressed Sale)
$4M · down from $68.1M
A Chicago office building traded at a deep discount, reflecting the severe impact of distress on older office inventory in the Midwest.
U.S. Bancorp Tower, Portland
88% discount · 222,000 sq. ft. vacancy impact
Following a major tenant departure, the building sold at an 88% discount from its 2015 sale price, marking one of the most significant value resets in the sector.
Side-by-Side Comparison
| Rank | Deal / Asset | Price | Deal Type | Source | Source |
|---|---|---|---|---|---|
| 1 | 61 Broadway, New York City | $475M · 33-story tower · residential conversion | RXR and One Investment Management secured substantial financing to convert this 33-story office building into a 796-unit residential tower, highlighting the scale of institutional capital flowing into adaptive reuse. | - | Commercial Observer |
| 2 | 1090 Vermont St. NW, Washington, D.C. | $23.1M · 160,000 sq. ft. · residential conversion | Developer Duball and an institutional partner acquired this 160,000-square-foot office building for conversion into a 150-unit apartment complex, reflecting the ongoing trend of urban office-to-residential repositioning. | - | Bisnow |
| 3 | 205 West Wacker Drive, Chicago | $15M · 23-story tower · deed-in-lieu | Titan Power Overseas Investment acquired this 23-story high-rise via deed-in-lieu of foreclosure, with plans for a partial multifamily conversion to address apartment demand. | - | The Real Deal |
| 4 | 3 World Trade Center, New York City | 438,000 sq. ft. · lease extension | Uber secured a major lease extension, underscoring the trend of large tenants committing to trophy assets even as broader Manhattan leasing volume faces headwinds. | - | GlobeSt.com |
| 5 | Brooklyn Medical Office Building, New York | $90M · medical office | A healthcare REIT acquired a medical office asset, demonstrating the continued resilience and demand for specialized medical office space in urban markets. | - | The Real Deal |
| 6 | Downtown Seattle Office Market | Market-wide · increased large-tenant activity | Leasing activity in Seattle accelerated in August 2026 as tenants began committing to larger office footprints, signaling a shift toward stabilization in the Pacific Northwest. | - | CoStar |
| 7 | Schaumburg Towers, Chicago | 882,071 sq. ft. · 15% discount | The sale of this large-scale office asset at a 15% discount highlights the ongoing price discovery and distress affecting suburban office markets. | - | Commercial Property Executive |
| 8 | Denver Office Complex (Distressed Sale) | $5.3M · down from $176M · residential conversion | A Denver office complex was sold for residential conversion at a significant loss, illustrating the extreme value reset occurring in secondary market office assets. | - | The Real Deal |
| 9 | Chicago Office Building (Distressed Sale) | $4M · down from $68.1M | A Chicago office building traded at a deep discount, reflecting the severe impact of distress on older office inventory in the Midwest. | - | The Real Deal |
| 10 | U.S. Bancorp Tower, Portland | 88% discount · 222,000 sq. ft. vacancy impact | Following a major tenant departure, the building sold at an 88% discount from its 2015 sale price, marking one of the most significant value resets in the sector. | - | CommercialCafe |
Rankings are built using live web research and publicly available data. Sources are cited inline. This content is for informational purposes only and does not constitute investment advice. View all rankings →