AI Is Filling Office Towers. It's Also Likely To Empty Them
Artificial intelligence firms are driving a niche rebound in U.S. office leasing, accounting for 11.5 million square feet in Q1—23% of total leasing activity. At the same time, the tech sector has recorded over 116,000 layoffs, eclipsing all job cuts in 2025. The surge is concentrated in premium markets such as San Francisco, Silicon Valley, and Manhattan, where AI companies are signing leases well ahead of actual space needs. Yet the broader office market remains strained, with roughly 20% vacancy and many buildings facing long‑term obsolescence.
Charlotte Approves 150-Day Pause On New Data Center Projects
The Charlotte City Council voted unanimously to impose a 150‑day pause on any new data‑center projects, aiming to study infrastructure and environmental impacts before allowing further development. Projects that already hold a building permit or have completed a development application...
NYC's Rent-Stabilized Subsidy Goes Untapped By Nonprofit Buyers
New York City’s Neighborhood Pillars program, relaunched in April 2025 to subsidize nonprofits acquiring distressed rent‑stabilized buildings, has yet to close a single deal a year later. The initiative provides up to $380,000 per unit plus property‑tax exemptions, with a requirement...
Dallas Mayor Favors Redevelopment Of I.M. Pei-Designed City Hall As Council Calls Vote
Dallas Mayor Eric Johnson announced support for redeveloping the iconic I.M. Pei‑designed City Hall, prompting a special City Council meeting on June 10. The agenda includes relocating staff, authorizing phased repairs, and allowing the city manager to explore redevelopment options. Cost estimates...
Sawtelle Affordable Project That Used ED 1 Sells For $16.7M: The Los Angeles Deal Sheet
Generation Real Estate Partners and Eris Development sold their 44‑unit, ED 1‑approved Sawtelle affordable housing project for $16.7 million to the Los Angeles Housing Authority. The deal translates to roughly $379,500 per unit, a record‑high price for a 100 % affordable complex in the...
JV Pays $79M For Silver Spring Apartments: The D.C. Deal Sheet
A joint venture led by New York Life Investment Management and Donaldson Impact Investments acquired the 326‑unit Yorkshire Apartments in Silver Spring for $79.4 million. The plan is to convert half of the units to affordable housing while keeping the other half at...
Construction Starts On CityCentre Hotel: The Houston Deal Sheet
Construction has begun on the AC Hotel by Marriott CityCentre Houston, a 153‑room, six‑story property spanning 86,000 sq ft. The $19 million development, led by PA Hospitality with Anchor Construction as general contractor, will feature a pool, bar, fitness center and meeting space....
Boston City Councilors Weigh Whether Parking Reform Can Boost Housing Production
Boston City Councilors are debating a 35‑page amendment to scrap parking minimums for all new residential projects citywide. The proposal, introduced by Councilors Sharon Durkan and Henry Santana, aims to lower construction costs and accelerate affordable‑housing production, which has stalled...
McCarthy Building Cos. Taps Palantir To Streamline Jobsite Operations
McCarthy Building Co., one of the U.S.’s 20 largest general contractors, has partnered with Palantir Technologies to launch the AI Operations Suite‑Pulse, an artificial‑intelligence platform designed to give superintendents real‑time insights, scenario planning and risk analysis on construction sites. The...
REPORT: Peter Thiel's Family Office Breaks Miami Rent Record With Brickell Lease
Peter Thiel's family office, Thiel Capital, signed an 18,000 sq ft lease on the 44th floor of Miami's 830 Brickell tower at roughly $250 per square foot, setting a new record for the city. The deal eclipses the previous high of about $200...
'Tax The Rich' Politics Boosting South Florida's Office Construction Pipeline
South Florida’s office market is bucking the national slowdown, with 1.4 M SF under construction in Palm Beach County—a 400% year‑over‑year increase—and another 500 K SF rising in Miami. The surge is driven by a business‑friendly political climate that markets the state as a...
Hotel Sales Drop As Hospitality Investors Quick-Pivot, Narrow Focus
U.S. hotel investment sales slumped 35% year‑over‑year in April, dropping to just $1 billion, despite a broader rebound in 2025‑2026. The slowdown reflects lingering rate uncertainty, political volatility, and a wave of loan maturities that are forcing sellers to price more...
Sale-Leasebacks Surge As Companies Eye Ways To Raise Cash
Sale‑lease‑back transactions are accelerating, with 714 deals worth $14.4 billion in 2025, a 3% rise in volume and 18% increase in value year‑over‑year. The first quarter of 2026 recorded 168 deals, the highest Q1 activity since 2022, driven by stable interest...
U.S. Retail Supply Is Tightening, But Few Developers Plan To Build New Product
Retail landlords in the United States are facing a tightening supply environment, with JLL reporting a negative absorption of 4.4 million square feet in Q1 2026. High tariffs and elevated interest rates have rendered new retail construction financially unfeasible, leading most...
Magic Johnson, Greystar Partnering On UPenn Housing Redevelopment: The Philadelphia Deal Sheet
The University of Pennsylvania and Greystar announced a joint redevelopment of 3650 Chestnut St., creating 493 beds across 448 furnished student‑housing units. The project is financed through Greystar’s newly launched infrastructure platform and partners with JLC, a fund co‑founded by NBA legend...