Markets · market intelligence
Market Intelligence
Two lenses on the same universe — auditable indices built only from sourced deals, and the whole tracked catalog as a value-weighted heatmap.
Data basis · Sourced verified deals only
Computed only from sourced verified transactions — 221 of 342 deals qualify, each linking to the exact deals behind it.
Prime Office ($/SF)
17 deals
17 fee-simple office sales disclosing floor area (national); per-metro all thin
Trophy Index (≥ $500M)
111 deals
97 fee-simple + 14 partial-interest (normalizable); 15 partial excluded
Metro Cap-Rate Benchmark
0 deals
no sourced deal discloses a cap rate — not published
Repeat-sales pairing
9 deals
9 candidate pair(s) — too thin to publish
Aedex Trophy Index
Mean transaction value · rebased to 100 at 2013
Latest index
425.5
Mean transaction value
$2.42B · 2026
Latest sample
4
Base period (=100)
2013
Series sample
97 deals
robust (n ≥ 3)thin sample13 of 22 periods robust
Every sourced deal in this index97 sourced transactions
Click a chart point to isolate a period| Yr | Asset | Market | Class | Basis | Disclosed | Implied 100% | $/SF | Source |
|---|---|---|---|---|---|---|---|---|
| 2026 | CHAMPLAIChamplain Hudson Power Express | Québec → New York City (HVDC) | Energy | Fee-simple sale | $6.00B | — | — | Utility Dive |
| 2026 | ASIASQUAAsia Square Tower 2 | Singapore | Mixed-use | Fee-simple sale | $1.95B | — | — | Allen & Gledhill |
| 2026 | ONECHURCOne Churchill Place | Canary Wharf | Office | Fee-simple sale | $993M | — | — | Canary Wharf Group (press release) |
| 2026-01 | PARKAVENPark Avenue Tower (65 East 55th Street) | New York | Office | Fee-simple sale | $730M | — | — | CoStar |
| 2025 | EMPIREWIEmpire Wind 1 | US offshore wind (New York Bight) | Renewables | Fee-simple sale | $5.00B | — | — | Equinor (developer press release) |
| 2025 | SANTANARSantana Row | San Jose, California | Mixed-use | Fee-simple sale | $1.39B | — | — | Federal Realty Investment Trust FY2025 Form 10-K (SEC EDGAR) |
| 2025 | NVIDIAHENVIDIA Headquarters (Endeavor & Voyager) | Santa Clara, California | Office | Fee-simple sale | $920M | — | — | Fortune |
| 2025 | CENTREDACentre d'Affaires Paris-Trocadero | Paris, France | Mixed-use | Fee-simple sale | $819M | — | — | INREV |
| 2025-04 | ONEEXCHAOne Exchange Square (top 9 floors and podium retail) | Hong Kong | Office | Fee-simple sale | $812M | — | — | South China Morning Post |
| 2025 | TROYBLOCTroy Block | Seattle | Office | Fee-simple sale | $740M | — | $925 | Urban Renaissance Group |
| 2025 | GREATMALGreat Mall | Milpitas, California | Retail | Fee-simple sale | $604M | — | — | Simon Property Group FY2025 Form 10-K (SEC EDGAR) |
| 2025 | STANFORDStanford Shopping Center | Palo Alto, California | Retail | Fee-simple sale | $589M | — | — | Simon Property Group FY2025 Form 10-K (SEC EDGAR) |
| 2024 | TRANSMOUTrans Mountain Pipeline (Expanded System) | Alberta → British Columbia (Pacific tidewater) | Pipeline | Fee-simple sale | $25.00B | — | — | Pipeline Technology Journal |
| 2024 | COASTALGCoastal GasLink Pipeline | NE British Columbia → Kitimat | Pipeline | Fee-simple sale | $10.40B | — | — | Coastal GasLink (TC Energy) |
| 2024 | MOUNTAINMountain Valley Pipeline | West Virginia → Virginia (Appalachia) | Pipeline | Fee-simple sale | $9.60B | — | — | West Virginia Public Broadcasting |
| 2024-12 | TOKYOGARTokyo Garden Terrace Kioicho | Tokyo | Mixed-use | Fee-simple sale | $2.60B | — | — | Blackstone (press release) |
| 2024 | HEDREIHTHe Dreiht Offshore Wind Farm | Germany offshore wind (North Sea) | Renewables | Fee-simple sale | $2.60B | — | — | EnBW (developer press release) |
| 2024 | CHOPNEWPCHOP New Patient Tower — Roberts Children's Health (3501 Civic Center Boulevard) | Philadelphia | Life Science | Fee-simple sale | $2.59B | — | — | The Philadelphia Inquirer |
| 2024 | ONEGROVEOne Grove (Magok) | Seoul | Mixed-use | Fee-simple sale | $1.60B | — | — | KED Global (Korea Economic Daily) |
| 2024-04 | KADEWEKAKaDeWe (Kaufhaus des Westens) building, Tauentzienstrasse | Berlin, Germany | Retail | Fee-simple sale | $1.08B | — | — | Central Group corporate newsroom / Bangkok Post / Business of Fashion |
| 2024 | THEASSETThe Asset (Samsung Fire & Marine Insurance HQ) | Seoul | Office | Fee-simple sale | $800M | — | — | KED Global (Korea Economic Daily) |
| 2024 | ARIZONABArizona Biltmore | Phoenix, AZ | Hotel | Fee-simple sale | $705M | — | — | The Real Deal |
| 2024 | FOURCYRUFour CyrusOne Houston-area data centers | Houston, TX | Data Center | Fee-simple sale | $670M | — | — | DataBank (press release) |
| 2024 | 980MADIS980 Madison Avenue | New York, NY | Office | Fee-simple sale | $560M | — | — | Commercial Observer |
| 2024 | SAILTOWESail Tower (formerly Block 185) | Austin | Office | Fee-simple sale | $522M | — | $649 | REBusinessOnline |
| 2023 | BALTICPOBaltic Power Offshore Wind Farm | Poland offshore wind (Baltic Sea) | Renewables | Fee-simple sale | $5.00B | — | — | Energy Global |
| 2023-11 | ONEISLANOne Island East (floors 42-54) | Hong Kong | Office | Fee-simple sale | $691M | — | — | South China Morning Post |
| 2023 | PARKLANEPark Lane Hotel (36 Central Park South) | New York City | Hotel | Fee-simple sale | $623M | — | — | Commercial Observer |
| 2023 | WESTFARMWestfarms | West Hartford, CT | Retail | Fee-simple sale | $548M | — | — | SEC EDGAR (Form ABS-EE) |
| 2022 | VOGTLEUNVogtle Units 3 & 4 | Georgia / US Southeast | Energy | Fee-simple sale | $30.34B | — | — | ANS Nuclear Newswire |
| 2022-02 | THEVENETThe Venetian Resort Las Vegas | Las Vegas Strip | Hotel | Fee-simple sale | $4.00B | — | — | businesswire.com |
| 2022 | 5BROADGA5 Broadgate | City of London / Broadgate (Liverpool Street) | Office | Fee-simple sale | $1.60B | — | — | South China Morning Post |
| 2022 | ROYALBANRoyal Bank Plaza | Financial District | Office | Fee-simple sale | $916M | — | — | The Globe and Mail |
| 2022 | MARIENTUMarienturm | Frankfurt | Office | Fee-simple sale | $900M | — | — | PropertyEU / IPE Real Assets |
| 2022 | MOFFETTGMoffett Green | Sunnyvale, California | Office | Fee-simple sale | $707M | — | — | Commercial Property Executive (reporting Bloomberg) |
| 2022 | 125BROAD125 Broadway (Kendall Square lab/life science building) | Cambridge (Kendall Square), MA — Greater Boston | Life Science | Fee-simple sale | $592M | — | — | IPE Real Assets |
| 2021 | NEWCENTRNew Central Harbourfront Commercial Site 3 | Hong Kong, China (Hong Kong SAR) | Mixed-use | Fee-simple sale | $6.50B | — | — | South China Morning Post |
| 2021 | THECOSMOThe Cosmopolitan of Las Vegas | Las Vegas Strip | Hotel | Fee-simple sale | $5.65B | — | — | Casino.org |
| 2021 | NOORENERNoor Energy 1 (MBR Solar Park Phase 4) | Dubai / UAE (MBR Solar Park) | Renewables | Fee-simple sale | $4.30B | — | — | Dubai Government Media Office |
| 2021 | THECLIFTThe Clifton Center for Medical Breakthroughs (formerly the Pavilion at Penn Medicine), 3400 Civic Center Boulevard | Philadelphia | Life Science | Fee-simple sale | $1.60B | — | — | Penn Medicine (owner) newsroom; independently corroborated by CBS Philadelphia |
| 2021 | MENLOGATMenlo Gateway | Menlo Park, California | Office | Fee-simple sale | $1.10B | — | — | Alexandria Real Estate Equities 4Q21 Supplemental, Form 8-K EX-99.1 (SEC EDGAR) |
| 2021 | KILROYOYKilroy Oyster Point | South San Francisco life science cluster / waterfront | Life Science | Fee-simple sale | $940M | — | — | Kilroy Realty (owner/developer) |
| 2021 | SUDAIRSOSudair Solar PV | Saudi Arabia utility-scale solar (Riyadh Province) | Renewables | Fee-simple sale | $906M | — | — | Power Technology |
| 2021 | LIVECASILive! Casino & Hotel Philadelphia (900 Packer Avenue) | Philadelphia | Hotel | Fee-simple sale | $700M | — | — | NBC10 Philadelphia |
| 2021 | VANTAGECVantage CA22 | Silicon Valley | Data Center | Fee-simple sale | $539M | — | — | datacenterdynamics.com |
| 2020 | DOGGERBADogger Bank Wind Farm (A, B & C) | UK offshore wind (North Sea) | Renewables | Fee-simple sale | $11.90B | — | — | Dogger Bank Wind Farm (project owner) |
| 2020 | TRAFFORDTrafford Centre | Trafford, Greater Manchester | Retail | Fee-simple sale | $2.90B | — | — | Retail Gazette |
| 2020 | MGMGRANDMGM Grand Las Vegas | Las Vegas | Hotel | Fee-simple sale | $2.50B | — | — | SEC EDGAR (Form ABS-EE) |
| 2020 | THEGRACEThe Grace Building | Midtown Manhattan | Office | Fee-simple sale | $2.15B | — | — | SEC EDGAR (Form ABS-EE) |
| 2020 | MANDALAYMandalay Bay Resort and Casino | Las Vegas | Hotel | Fee-simple sale | $2.10B | — | — | SEC EDGAR (Form ABS-EE) |
| 2020 | GENESISSGenesis South San Francisco | South San Francisco life science cluster | Life Science | Fee-simple sale | $1.02B | — | — | Bain Capital Real Estate (seller press release) |
| 2020 | ALDHAFRAAl Dhafra Solar PV | Abu Dhabi / UAE utility-scale solar | Renewables | Fee-simple sale | $1.00B | — | — | EDF Renewables / Jinko Power (PR Newswire) |
| 2020 | HARRAHSRHarrah's Resort Atlantic City | Atlantic City | Hotel | Fee-simple sale | $599M | — | — | VICI Properties Inc., Form 10-K (FY2020), SEC EDGAR |
| 2019 | LONGBEACLong Beach Container Terminal (Middle Harbor) | San Pedro Bay / Port of Long Beach | Port | Fee-simple sale | $1.78B | — | — | Institutional Real Estate, Inc. (IREI) |
| 2019 | 25CANADA25 Canada Square | Canary Wharf | Office | Fee-simple sale | $1.50B | — | — | Wikipedia (Citigroup Centre, London) |
| 2019 | TOURMAJUTour Majunga (La Défense) | Paris | Office | Fee-simple sale | $955M | — | — | Wikipedia (citing La Gazette de la Défense / Batiactu) |
| 2019 | HOLLYWOOHollywood Casino at Greektown | Detroit | Hotel | Fee-simple sale | $700M | — | — | VICI Properties Inc., Form 10-K (FY2019), SEC EDGAR |
| 2019 | EMPIRECIEmpire City Casino at Yonkers Raceway | Yonkers, New York | Venue | Fee-simple sale | $634M | — | — | MGM Growth Properties LLC, Form 10-K (FY2021), SEC EDGAR |
| 2019-02 | 1HOTELSO1 Hotel South Beach | Miami | Hotel | Fee-simple sale | $610M | — | — | globenewswire.com |
| 2019 | HARDROCKHard Rock Casino Cincinnati | Cincinnati | Venue | Fee-simple sale | $558M | — | — | VICI Properties Inc., Form 10-K (FY2019), SEC EDGAR |
| 2018 | LNGCANADLNG Canada (Phase 1) | Kitimat / British Columbia | Energy | Fee-simple sale | $14.00B | — | — | Oil & Gas Journal |
| 2018 | MARINEREMariner East 2 Pipeline | Pennsylvania — Appalachia to Marcus Hook | Pipeline | Fee-simple sale | $2.50B | — | — | WHYY; Chester County Planning Commission (Pipeline Information Center) |
| 2018 | COMCASTTComcast Technology Center (1800 Arch Street, incl. Four Seasons Hotel Philadelphia) | Philadelphia | Mixed-use | Fee-simple sale | $1.50B | — | — | Bisnow Philadelphia |
| 2018 | OMNITURMOmniturm | Frankfurt | Mixed-use | Fee-simple sale | $800M | — | — | IPE Real Assets |
| 2018-04 | INFOMARTInfomart Dallas | Dallas | Data Center | Fee-simple sale | $800M | — | — | investor.equinix.com |
| 2018 | TRIANONTTrianon Tower | Frankfurt | Office | Fee-simple sale | $760M | — | — | Business Wire (NorthStar Realty Europe press release) |
| 2018 | SANTAMONSanta Monica Business Park | Santa Monica | Office | Fee-simple sale | $628M | — | — | CPP Investments / BXP press releases; REBusinessOnline |
| 2017 | THECENTEThe Center | Central, Hong Kong Island | Office | Fee-simple sale | $5.15B | — | — | Hong Kong Free Press |
| 2017 | COEURDFECoeur Défense | Paris | Office | Fee-simple sale | $2.10B | — | — | PropertyEU / IPE Real Assets |
| 2017 | 20FENCHU20 Fenchurch Street ("Walkie Talkie") | London | Office | Fee-simple sale | $1.70B | — | — | IPE Real Assets |
| 2017 | 122LEADE122 Leadenhall Street ("Cheesegrater" / The Leadenhall Building) | London | Office | Fee-simple sale | $1.42B | — | — | Mingtiandi |
| 2017 | HARRAHSLHarrah's Las Vegas | Las Vegas | Hotel | Fee-simple sale | $1.14B | — | — | VICI Properties Inc. (company press release) |
| 2017 | CENTRALPCentral Park Tower | Manhattan / Billionaires' Row (West 57th Street) | Residential | Fee-simple sale | $1.14B | — | — | PR Newswire (Extell release) |
| 2017 | TOWER185Tower 185 | Bankenviertel / Friedrich-Ebert-Anlage | Office | Fee-simple sale | $875M | — | — | REFIRE (Real Estate Finance Intelligence Report Europe) |
| 2016 | ASIASQUAAsia Square Tower 1 | Marina Bay CBD | Office | Fee-simple sale | $2.45B | — | — | BlackRock (investor relations press release) |
| 2016-01 | POTSDAMEPotsdamer Platz | Berlin, Germany | Mixed-use | Fee-simple sale | $1.41B | — | $486 | Brookfield Property Partners press release |
| 2016 | BORGATAHBorgata Hotel Casino & Spa | Atlantic City | Hotel | Fee-simple sale | $1.18B | — | — | MGM Resorts International / MGM Growth Properties (joint press release, PR Newswire) |
| 2016 | ALEXANDRAlexandria Center at One Kendall Square | Boston/Cambridge | Life Science | Fee-simple sale | $725M | — | — | rebusinessonline.com |
| 2016 | TORRECEPTorre Cepsa (Torre Moeve) | Madrid | Office | Fee-simple sale | $540M | — | — | Iberian Property |
| 2015 | STUYVESAStuyvesant Town–Peter Cooper Village | New York | Multifamily | Fee-simple sale | $5.30B | — | — | The Real Deal |
| 2015 | TORREEMPTorre Emperador Castellana (formerly Torre Espacio) | Madrid | Office | Fee-simple sale | $610M | — | — | Wikipedia (citing IFLR1000 / Philstar) |
| 2014 | CAMERONLCameron LNG (Phase 1) | Louisiana / US Gulf Coast | Energy | Fee-simple sale | $10.00B | — | — | Sempra Energy (PR Newswire) |
| 2014 | 8CANADAS8 Canada Square | Canary Wharf | Office | Fee-simple sale | $1.72B | — | — | City A.M. |
| 2014-01 | DEUTSCHEDeutsche Bank Center (office condominium, formerly Time Warner Center, One Columbus Circle) | New York | Office | Fee-simple sale | $1.30B | — | $1,182 | Wikipedia / Time Warner SEC 8-K |
| 2014 | LEVISSTALevi's Stadium | Santa Clara, California | Venue | Fee-simple sale | $1.30B | — | — | Baumann, Matheson & O'Connor, College of the Holy Cross working paper HC1705 |
| 2013 | INTERCONInterContinental London Park Lane | London / Park Lane, Mayfair | Hotel | Fee-simple sale | $605M | — | — | Gulf News (all-in $605m incl. freehold); IHG plc disposal announcement carried by Hospitality Net and The Caterer (£301.5m/$457m leasehold leg) |
| 2013 | COMMERCECommerce Square (One and Two Commerce Square, 2001 and 2005 Market Street) | Philadelphia | Office | Fee-simple sale | $600M | — | — | PR Newswire (Brandywine Realty Trust) |
| 2013-01 | GREENACRGreen Acres Mall | Valley Stream, New York | Retail | Fee-simple sale | $500M | — | — | PR Newswire (Macerich) |
| 2012 | ICHTHYSLIchthys LNG | Darwin / Northern Australia | Energy | Fee-simple sale | $34.00B | — | — | TotalEnergies (owner press release) |
| 2012 | BATTERSEBattersea Power Station | Nine Elms / Battersea, SW11 | Mixed-use | Fee-simple sale | $632M | — | — | Pinsent Masons (Out-Law) |
| 2011 | PENNSYLVPennsylvania Convention Center | Philadelphia | Venue | Fee-simple sale | $786M | — | — | WHYY |
| 2008 | SHANGHAIShanghai World Financial Center | Lujiazui, Pudong | Office | Fee-simple sale | $1.20B | — | — | Wikipedia (Shanghai World Financial Center) |
| 2007 | CHELSEABChelsea Barracks | London / Belgravia (Chelsea Bridge Road) | Mixed-use | Fee-simple sale | $1.94B | — | — | Bisnow |
| 2006-06 | ONEFEDEROne Federal Street | Boston | Office | Fee-simple sale | $514M | — | $467 | GlobeSt (acquisition price), corroborated by Tishman Speyer property page and Connect CRE / Commercial Property Executive (current ownership) |
| 2004 | GRANDCANGrand Canal Shoppes (incl. Shoppes at the Palazzo) | Las Vegas | Retail | Fee-simple sale | $766M | — | — | SEC EDGAR (GGP Form 8-K, 2004) / GlobeSt |
| 2003 | LINCOLNFLincoln Financial Field | Philadelphia | Venue | Fee-simple sale | $512M | — | — | Billy Penn |
| 2002 | 399PARKA399 Park Avenue | New York | Office | Fee-simple sale | $1.06B | — | — | BXP (Boston Properties) investor relations / press release |