The latest commercial real estate news and developments.
Forest Development, Sonnenblick Development, and Related Urban are vying for the rights to redevelop a 90-acre waterfront corridor in Riviera Beach, with proposals ranging from a $716 million convention center complex to a Margaritaville-branded resort.
Hall Group is building a 677,000-square-foot office tower at its $7 billion Hall Park campus in Frisco, while Jackson-Shaw signed a 606,000-square-foot build-to-suit in Georgetown for a data center equipment manufacturer.
Creating a commercial real estate offering memorandum used to mean weeks of back-and-forth with designers. A new generation of purpose-built OM software is cutting that timeline to hours — and brokers say the results are better.
Phoenix's industrial vacancy rate fell 90 basis points in Q4 2025, its sharpest quarterly decline since 2021, as logistics and advanced manufacturing tenants absorbed 4.4 million square feet across the Valley.
CBRE generated nearly $700 million in data center revenue in a single quarter as the asset class surpasses traditional office development for the first time, with McKinsey projecting $6.7 trillion in investment needed by 2030.
Chicago's retail vacancy rate has fallen to 4.9% — near a 30-year record low — with Gold Coast rents topping $300 per square foot and Southport corridor hitting zero vacancy, even as downtown corridors continue to struggle.
Wellpointe Inc. acquired 6400 Canoga Avenue in Woodland Hills from Sandstone Properties, pivoting the site from a planned luxury tower and hotel to a multi-phase, 100% affordable mixed-use development.
Oak Funding and OakNorth Bank financed Bushburg Properties' acquisition of 100 William Street, a 21-story tower bought from Manulife at less than half its prior sale price, for conversion into over 400 residential units.
A 26-story, 458,047-square-foot Class A office tower at 3003 North Central Avenue sold for roughly $70 per square foot after $11 million in capital improvements, highlighting the discount still facing older high-rise office product.
Chicago-based Waterton acquired the Misora apartment community from Federal Realty Investment Trust for approximately $701,000 per unit, with plans to renovate all 212 residences in Silicon Valley's premier mixed-use district.
The Falls of Bonaventure, a 300-unit apartment complex in Weston, Florida, sold to a Canadian investor and affordable housing nonprofit for roughly $168,000 per unit — a fraction of new construction costs in Broward County.
IAC Properties has commenced construction on IAC Pleasant Run, a two-building, 727,080-square-foot speculative industrial development on 52.8 acres in Lancaster, Texas, with delivery expected in early 2027.