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1 week ago | 
globest.com | Anthony Russo |Kristen Smithberg |Jack Rogers
A joint venture consisting of Nuveen and The Preiss Company is selling five student housing properties in the Sunbelt. The portfolio takes up 3,693 total beds across 1,248 units. According to Newmark, which brokered the deal on behalf of the JV, the sale marks the largest deal to take place in the alternative asset class in the country in 2025 so far. The units are spread across four states including North Carolina, Texas, Indiana, and Florida.
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1 week ago | 
globest.com | Jack Rogers |Erik Sherman |Anthony Russo
California may become the first state in the nation to impose a statewide tax on vacant commercial properties. Senate Bill 789 would impose a $5-per-square-foot annual tax on buildings that remain empty for 182 or more days, whether consecutive or nonconsecutive, in the calendar year. The bill was introduced by Sen. Caroline Menjiver, who represents Burbank and the San Fernando Valley.
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1 week ago | 
globest.com | Kristen Smithberg |Erik Sherman |Anthony Russo
After a historic wave of apartment construction, supply appears to have peaked nationally, but some local markets have yet to peak. Most larger construction markets are past their peak, according to a RealPage analysis. Houston, for example, hit an apex in mid-2024, and Dallas, Austin and Phoenix are likely to see supply volumes peak this quarter. However, 13 of the nation’s 50 largest apartment markets won’t see their highest supply volumes until the second half of 2025 or later, the report said.
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1 week ago | 
globest.com | Erik Sherman |Kristen Smithberg |Anthony Russo
As U.S. importers navigate the unpredictable landscape of tariffs imposed during the Trump administration, Bloomberg reports that a scramble has emerged for space in customs bonded warehouses—specialized facilities that allow companies to store goods for up to five years without immediately paying duties.
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1 week ago | 
globest.com | Kristen Smithberg |Erik Sherman |Anthony Russo
Retail pedestrian traffic was mixed through March, signaling cautious optimism about consumer behavior. According to foot traffic data collected by MRI Software between March 2 and April 5, downtown foot traffic was up nearly 21% and shopping mall traffic increased by 4.3%. The report described these trends as encouraging, especially given the later timing of the Easter holiday this year.
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1 week ago | 
globest.com | Anthony Russo |Philippa Maister
A retail joint venture majority controlled by Vornado Realty Trust has secured a $450 million loan to refinance its 1535 Broadway property, also known as Marriott Marquis. The terms include 6.90 percent fixed rate, with a maturity date set for May 2030. It's unclear who the lender was, but Vornado said that $407 million of the funding is being used in part to redeem the company's preferred equity in the JV. The REIT owns 52 percent of the JV.
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1 week ago | 
globest.com | Anthony Russo |Philippa Maister
Archway Capital has launched a new commercial real estate fund with the goal of raising $100 million to be invested across various asset classes. Through Archway Opportunity Fund II, the developer aims to achieve an annualized return of between 11 and 15 percent, with an additional focus on generating an annual income of four to five percent. The firm plans to raise the capital by the end of next year.
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1 week ago | 
globest.com | Anthony Russo |Philippa Maister
Higher-tier properties have continued to drive San Antonio's office sector’s recovery. Still, their strong performance wasn’t enough to prevent the city from experiencing negative overall demand in the first quarter. The market recorded a total negative absorption of 102,296 square feet. While Class A properties absorbed a positive 119,690 square feet, Class B and C assets together saw a combined loss of 221,986 square feet.
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1 week ago | 
globest.com | Anthony Russo |Philippa Maister
While robust growth is always desirable, stability in the commercial real estate sector can be equally advantageous. This is particularly evident in Jacksonville's retail market as it begins 2025. According to a report from Colliers, retail vacancy rates in Jacksonville have remained steady, standing at 4.3% during the first quarter of 2025 compared to the previous quarter.
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1 week ago | 
globest.com | Anthony Russo |Natalie Dolce
Demand in Columbus' industrial sector has experienced a dramatic reversal, according to a CBRE market report. In the first quarter, net absorption reached 2.5 million square feet, a sharp contrast to the nearly 1 million square feet of negative absorption in the previous three months.
