Capital Group Buying Downtown's Distressed Bank Of America Plaza
Capital Group announced it will purchase the 55‑story Bank of America Plaza in downtown Los Angeles for roughly $210 million, converting its long‑time tenancy into ownership. The building, previously appraised at $212.5 million, had seen its value plunge from $605 million a decade earlier after a Brookfield‑owned CMBS loan default. Capital Group, which manages $3.4 trillion in assets, plans to house more than 2,100 employees in a "vertical campus" within the 1.4 million‑square‑foot tower. The deal underscores a broader wave of distressed office asset sales in the city’s market.
Allston LabWorks Lands Rebranded Biotech For First Lab Lease
King Street Properties’ Allston LabWorks, a $915 million mixed‑use campus in Boston, secured its first laboratory tenant when drug manufacturer Terrestrial Bio signed a 42,000 square‑foot lease for its new headquarters and manufacturing hub. The agreement coincides with Terrestrial’s recent $50 million Series C...
Why Prices For D.C.-Area Retail Properties Are Spiking Right Now
Retail property prices in the Washington, D.C. metro are soaring, with the average price per square foot jumping 27.2% in 2025—far above the 12.3% national increase. The surge follows a 30% decline in 2023‑24 and is fueled by strong consumer...
2028 Olympics Partner Leases 108K SF In Downtown LA
On Location, a ticket‑and‑travel specialist, has leased 108,000 square feet at the former Union Bank Plaza, 445 S. Figueroa St., as part of its 2028 Olympics hospitality push. The 40‑story building was bought in 2024 by the Southwest Carpenters Pension Trust for $80 million. Downtown Los Angeles recorded...
Army Taps KKR And Carlyle For $4B Of Data Centers On U.S. Bases
The U.S. Army announced a partnership with Carlyle Group and KKR’s CyrusOne to build two massive data‑center campuses on domestic bases, committing roughly $4 billion in private capital. Carlyle will develop a 2.5‑to‑3 GW facility on 1,384 acres at Fort Bliss, Texas,...
U.S. Trading Firm Picks Winner For 450K SF New London HQ
Jane Street has chosen 10 Bishops Square as the site for its new 450,000 SF London headquarters, part of an 870,000 SF redevelopment slated for completion in 2030. The project, owned by the Hong Kong Monetary Authority and JPMorgan Global Alternatives, was bought for £557 million (≈$696 million) in 2010....
QuadReal Ramps Up Self-Storage With £280M Acquisition: The London Deal Sheet
QuadReal Property Group has agreed to buy a 27‑asset, 1.2 million‑square‑foot self‑storage portfolio in the UK for £280 million (≈ $350 million). The deal creates a joint venture with Clear Sky Capital, in which QuadReal holds a 95% interest and will inject an additional...
Starwood's LNR Submits Winning $95M Bid For Back Bay Office
Starwood Property Trust’s LNR Partners secured the winning $95 million bid for the 540,000‑square‑foot Park Square Building in Boston’s Back Bay. The property, built in 1922, was previously assessed at $119 million and carries a $160 million loan that defaulted when owner Capital...
Long-Planned Teachers Village In Atlanta May Finally Be Shovel-Ready
RBH Group has filed a permit to begin construction on Teachers Village, a 33‑story, 430‑unit affordable‑housing tower at 98 Cone St. in downtown Atlanta. The development will reserve over 220 units for independent‑living seniors, 197 for workforce housing, and a...
Gladstone Institutes Leases Additional 105K SF In Mission Bay
Gladstone Institutes announced a lease for an additional 105,000 square feet of laboratory space at 1450 Owens Street in San Francisco’s Mission Bay. The new facility, slated to open in 2027, will accommodate roughly 300 scientists across 20 labs, freeing up...
Centers Health Care Sells Flagship Nursing Home For $162M
Centers Health Care sold its flagship Brooklyn nursing home, Boro Park Center, for $161.5 million, an eightfold increase from the $19 million purchase price in 2011. The buyer, 4915 10th SNF Realty LLC, secured a $64 million mortgage from Huntington National Bank as part of a...
Plano Mall Redevelopment To Move Forward With Or Without Dallas Stars
The Shops at Willow Bend in Plano will be demolished and redeveloped within the next year, regardless of whether the Dallas Stars secure a new arena on the site. Owners Cawley Partners and Waterfall Asset Management plan a mixed‑use project...
Here's How Developers Are Trying To Reduce The Cost Of Conversions
Developers in Washington, D.C. are buying under‑priced office buildings and converting them into residential apartments to sidestep the scarcity of new multifamily projects. By reusing existing infrastructure such as underground parking and designing larger, fewer units, they trim capital expenditures...
The Future Of Data Center Cooling At Bisnow's DICE National Conference
Data center cooling now consumes roughly 550,000 gallons of water per day, a figure climbing as AI workloads increase. Companies like Watts are promoting direct‑to‑chip liquid cooling to slash both water and energy use. Watts’ national sales manager Nolan Foran...
Ares Buying 36 Industrial Properties From EQT For $650M
Ares Management is purchasing 36 industrial warehouses from EQT Real Estate for more than $650 million, marking its second major acquisition from the seller in four months. The transaction includes 7.3 million square feet of space, financed with a $500 million two‑year floating‑rate...
Japanese Developer Pays $89M For Miami Worldcenter Site: The South Florida Deal Sheet
Tokyo‑based Kasumigaseki Capital announced the acquisition of a 155 NE 10th St. parcel in Miami for $88.8 million, its first U.S. purchase. The deal includes $45 million of seller financing and targets a 53‑story mixed‑use tower originally envisioned by Falcone Group as part of the...
Simon Lines Up $465M Refi For Pentagon City Mall, Office And Hotel
Simon Property Group and Institutional Mall Investors are set to close a $465 million refinancing loan for the Fashion Centre at Pentagon City, its adjacent Metro Tower office building, and the Ritz‑Carlton hotel. The five‑year, interest‑only loan, originated by Goldman Sachs,...
OpenAI Leases 5-Building Mountain View Office Campus
OpenAI leased a five‑building, 450,000‑square‑foot campus in Mountain View, California, after owners KKR Real Estate Finance Trust and TMG Partners upgraded the site with dining options and a two‑acre amenity zone. The move follows a series of recent Bay Area...
CIM Hits Celebrity-Backed Goodtime Hotel With $150M Foreclosure Suit
CIM Group has filed a $150 million foreclosure lawsuit against the owners of Miami Beach’s Goodtime Hotel, alleging default on a loan that was originally $164 million and later reduced to $152 million. The hotel, a 266‑room property developed by Eric Birnbaum, Michael...
David Simon, Who Built Retail REIT Into Sector Giant, Dies At 64
David Simon, the long‑time CEO and chairman of Simon Property Group, died at 64 after a battle with cancer. His son, Eli Simon, who was chief operating officer, has been named CEO, while Larry Glasscock assumes the role of non‑executive...
With Rates And Costs High, LA Multifamily Investors Shift From Ground‑Up To Preservation Plays
With interest rates climbing since 2022, Los Angeles multifamily investors are shifting from new construction to preserving existing affordable assets. Companies like Impact Housing and Turner Impact Capital are pivoting toward naturally occurring affordable housing and stabilized properties to mitigate financing...
Landlords Cry Foul As NYC Issues Over $115K In Composting Fines
New York City’s Department of Sanitation has issued more than $115,000 in composting fines to multifamily landlords since the rule took effect in October 2024, delivering 1,173 summonses in under a year. Fines are modest—about $100 each—but are frequent, prompting...
Jamestown Reveals Vision For Proposed Mixed-Use NHL Stadium: The Atlanta Deal Sheet
Jamestown has filed a zoning application to transform the former North Point Mall in Alpharetta into a 20,000‑seat NHL arena surrounded by a mixed‑use campus. The development would add roughly 1 million square feet of retail and dining, a 300‑room hotel,...
Armed With $1B In New Credit, JLL Income Property Trust Ready To Deal
JLL Income Property Trust secured a $1 billion credit facility comprising a $600 million revolving line and a $400 million term loan, with the option to expand to $1.3 billion. The two‑year facility, syndicated by ten major banks, provides unsecured liquidity for opportunistic acquisitions....
Apollo To Invest $1B In 500 Realty Income Single-Tenant Properties
Apollo Global Management is investing $1 billion for a 49% stake in a new joint venture with Realty Income Corp. to acquire roughly 500 single‑tenant retail properties under long‑term net leases. Realty Income will continue to manage the portfolio, with the...
Miami Developer Offering FIFA World Cup Tickets For Condo Buyers
North Development is using FIFA World Cup tickets as a sales incentive for its Domus Brickell Park condos in Miami. Since the promotion began four months ago, roughly 20 of the 45 remaining units have been sold, driven largely by...
Historic Heights Redevelopment Reaches 80% Preleased: The Houston Deal Sheet
Radom Capital and Triten Real Estate Partners’ Swift Building in Houston Heights has reached 80% pre‑lease, offering 35,000 sq ft of office and 25,000 sq ft of retail space. Anchor tenants include Van Leeuwen Ice Cream (1,300 sq ft) and wellness brand Leemoo, marking the fourth and...
Lawmaker Seeks To Block School-To-Housing Conversions In West Philly
Councilmember Jamie Gauthier introduced legislation to block the conversion of five West Philadelphia public schools into housing, directing the properties toward civic uses such as schools or libraries. The mayor, Cherelle Parker, is pushing school‑to‑housing projects to help meet her...
Investor Makes D.C. Debut With All-Cash NoMa Buy: The D.C. Deal Sheet
Philadelphia‑based Turio Residential Co. announced its first Washington, D.C. acquisition, buying the 67‑unit former extended‑stay hotel at 1324 North Capitol St. NW for $16 million in cash. The asset, previously slated for foreclosure, will be rebranded as NoMa 1324 and converted to...
3.1M SF Logistics Park Slated For Oakley In East Bay
Oakley’s city council approved the Bridgehead Industrial Project, a 3.2 million‑square‑foot logistics campus on 164 acres of eastern Contra Costa County. The development will consist of ten buildings, with construction slated to take six to ten years, and will become the largest...
Cherry Creek Demolition Will Make Way For 13-Acre Mixed-Use Project: The Denver Deal Sheet
East West Partners has begun demolishing two former retail buildings at First Avenue and University Boulevard to make way for Cherry Creek West, a 13‑acre mixed‑use development in Denver. The project will ultimately deliver 840 residential units, 600,000 square feet...
Deportation Fears Complicate NYC's Construction Safety Crackdown
The NYC Department of Buildings completed a 2025 sweep of 705 construction sites, finding violations at 14% and issuing 50 stop‑work orders. Fatalities rose to ten last year, while reported injuries dropped 33% to 320, the lowest in a decade....
CBRE, Savills Launch Thompson Center Leasing As 2,000 Google Employees Prepare For Move-In
Google is preparing to move roughly 2,000 employees into Chicago’s historic Thompson Center in 2027, after purchasing the 1.2 M SF building for $105 M. The company has appointed CBRE to manage office leasing and Savills to handle retail leasing, with 14 retail...
Bank Of Hope Moves HQ To Aon Center In 50K SF LA Lease
Bank of Hope has signed a roughly 50,000‑square‑foot lease at the Aon Center, 707 Wilshire Blvd, moving its headquarters from the outskirts of Los Angeles to downtown. The deal was brokered by Colliers and Avison Young, with Carolwood LP as the landlord. The...
Charlotte, Raleigh Named No. 1 And No. 2 Retail Markets In U.S.
Marcus & Millichap’s 2026 Retail Investment Forecast ranks Charlotte and Raleigh as the top two U.S. retail markets. Charlotte posted a 3.5% vacancy rate, driven by big‑box and discount‑store leases, while Raleigh‑Durham held a 3.0% vacancy rate, buoyed by small‑shop...
Future White Sox Owner Nears Deal For 47-Acre Potential Stadium Site
Justin Ishbia's private‑equity firm is nearing a deal to acquire a 47‑acre former Amtrak rail yard in Chicago’s South Loop, reviving prospects for a new White Sox stadium as the current Rate Field lease expires in 2029. The site, adjacent...
Commercial Real Estate Fundraising On The Rise For First Time Since 2021
Private real estate fundraising rose to $172 B in 2025, a 13 % increase from 2024 and the first year‑over‑year growth since 2021. The surge occurred despite persistently high 10‑year Treasury yields above 4 % and a cautious capital‑markets environment. Nearly 90 % of...
MIPIM 2026: Irish Government Tells International Investors Country Needs Their Cash
Ireland’s housing minister James Browne used the MIPIM pavilion to tell global investors the country needs their capital to hit its ambitious housing goals. The government has rolled out policy changes – more zoned land, a rent‑reset law, and an...
Amazon Pays $130M For Atlanta Warehouse: The Atlanta Deal Sheet
Amazon.com Services acquired the 1.1‑million‑square‑foot Chattahoochee Logistics Center in South Fulton for $129.7 million, according to Georgia court filings. The cross‑dock distribution hub, built in 2020 by Taylor & Mathis, was sold by WSRE CP CLC Investors, an affiliate of Chicago‑based Walton Street...
Bronx 'Worst Landlord' Ordered To Pay $2.1M Fine In Landmark Ruling
A New York State Supreme Court judge ordered Bronx landlord Seth Miller to pay more than $2.1 million in fines and to complete urgent repairs at his 919 Prospect Ave. building within a strict timeline. The ruling, hailed by Mayor Zohran Mamdani as...
Iran Conflict Raises Specter Of Inflation, But CRE Could Be Spared
The U.S. war with Iran has disrupted oil flows through the Strait of Hormuz, pushing crude prices above $100 and reviving inflation concerns. Analysts warn that a prolonged conflict could lift interest rates, jeopardizing the refinancing momentum that commercial‑real‑estate (CRE)...
Developers Apply Lessons Learned From Biscayne 21 Fiasco
Developers at a Bisnow South Florida event dissected the Biscayne 21 condo‑tower debacle, where Two Roads’ attempt to lower the termination threshold sparked a lawsuit that forced a $65 million repair bill. The case highlighted how a minority of holdout owners can halt...
Austin-Based REIT Stratus Properties To Liquidate
Austin‑based REIT Stratus Properties announced it will liquidate its portfolio, selling the remaining nine properties and returning cash to shareholders. The decision follows a strategic review launched in December and aims to maximize value in a tax‑efficient manner. At the...
Russell Glen To Bring Aspirational Community To Long-Overlooked Southern Dallas
Russell Glen Co. plans to break ground later this year on Rivulet, a 90‑acre master‑planned community in Southern Dallas. The development will deliver roughly 300 single‑family homes, hundreds of multifamily units and a 20‑acre retail district, aiming to address the...
Burlington, Ross Bid To Take Over Saks Off 5th Leases
Discount retailers Burlington and Ross are competing for Saks Off 5th locations as the bankrupt chain auctions 59 leases. Burlington submitted a $22 million offer for 22 stores across 12 states, while Ross placed a $4 million bid on four sites in California...
27-Story Center City Building Refinanced For $145M: The Philadelphia Deal Sheet
Southern Land Co. has refinanced its 27‑story Josephine apartment tower in Philadelphia’s Rittenhouse Square with a $145 million loan from Affinius Capital. The development, built at a total cost of $204.5 million—including a $24.5 million land purchase and $180 million construction—features 255 residential units...
Renovated Historic Colfax Hotel To Reopen: The Denver Deal Sheet
The All Inn Hotel, a 54‑room boutique property housed in a renovated 1950s motor inn on Colfax Avenue, will open on March 26, with its Mediterranean restaurant Fino debuting March 18. The $22 M restoration preserves a National Register historic building while adding a...
Peter Linneman On AI And Why The Economy Is Healthier Than It Appears
Peter Linneman told the University of Miami conference that recent data shows the U.S. economy is healthier than many fear, with modest job growth and 2.2% GDP expansion in 2025. He argued AI will boost productivity and generate new jobs...
Corporate HQs Are Following The Billionaires To South Florida
Corporate headquarters are rapidly relocating to South Florida as billionaires buy luxury homes and tout the region’s tax advantages. In the first two months of 2026, four companies—including Palantir and Trinity Investments—announced moves, adding to the 74 firms that shifted...
Speed Over Value: How ICE Has Quietly Snapped Up Scores Of U.S. Offices
The General Services Administration has quietly signed roughly 150 office leases for U.S. Immigration and Customs Enforcement since September 2025, accelerating acquisitions to meet the agency’s rapid expansion after the $75 billion One Big Beautiful Bill Act funding. In the first wave, 17 leases...