The latest commercial real estate news and developments.
A 113,601-square-foot grocery-anchored shopping center in Eden Prairie, Minnesota, has traded hands for $27.7 million. Cushman & Wakefield brokered the transaction, highlighting sustained institutional demand for essential retail assets in suburban Minneapolis.
Phillips Edison & Co. has expanded its Midwest footprint with the $27.7 million acquisition of a grocery-anchored shopping center in suburban Minneapolis. The 113,601-square-foot property features a recently renovated lineup of national credit tenants.
Saks Global Enterprises has resolved its legal standoff with Simon Property Group while simultaneously securing creditor backing, accelerating its emergence from Chapter 11 protection. The dual agreements mark a pivotal step in stabilizing the iconic luxury department store's operational and financial footing.
The Puget Sound industrial market recorded an 11.5% vacancy rate in Q1 2026, a record high fueled by negative absorption and cooling tenant demand. Savills reports the region absorbed negative 800,000 square feet year-to-date as the market continues to recalibrate.
Alexandria, Virginia-based REIT AvalonBay recorded $398.7 million in core funds from operations for Q1 2026, beating analyst expectations. The operator of nearly 99,000 apartments nationwide credited a confluence of favorable asset class trends and broader economic realities driving renter demand.
In a closely watched Hollywood transaction, Faulkner Capital Partners has acquired The Baxter, a newly built 85,775-square-foot luxury apartment complex. Colliers executive Kitty Wallaced brokered the off-market deal, representing both the buyer and three undisclosed sellers.
Shopoff Realty Investments and architecture firm AO have officially broken ground on Bolsa Pacific, an 83.3-acre mixed-use development set to bring 2,250 residential units and 220,000 square feet of retail to the former Westminster Mall site in Orange County.
Global real estate firm Hines has acquired a shovel-ready site in Phoenix's West Valley to develop a 572,282-square-foot, three-building industrial campus. The move reinforces the I-10/Loop 303 corridor's standing as a heavyweight logistics hub in the Sun Belt.
Nicholas & Associates and Wingspan Development Group have officially opened the initial commercial phase of The VUE, a pedestrian-oriented mixed-use project spanning 10 acres in Elk Grove Village. The development aims to deliver an integrated environment combining residential units with dining and retail options.
Following a $72 million land acquisition in Raleigh's North Hills Innovation District, Kane Realty is moving forward with an eight-story, 297-unit senior housing development. The project at 901 Navaho Drive marks a major investment in the Triangle region's rapidly expanding senior living sector.
Related Group and BH Group have secured a massive $360 million construction loan for the Icon Beach Waterfront Residences in South Florida, marking one of the region's largest financing deals this quarter. The project highlights continued lender confidence in the luxury residential market despite broader economic headwinds.
Canadian menswear company Jack Victor has grown its presence at 8 West 40th Street by over 4,300 square feet, bringing its total leasehold in the Midtown office building to 11,000 square feet. The expansion secures the fashion brand full control of the 17th floor alongside a partial presence on the 18th floor.