Lynn Brackpool Giles

1 month ago | globest.com | Anthony Russo |Lynn Brackpool Giles |Erik Sherman

The luxury brand is in talks to purchase retail space that would serve as the base for the luxury condo portion of the project, the Commercial Observer reported. While no deal is completed yet, sources told the outlet that Chanel might be willing to spend $450 million to own roughly 65,000 square feet, which would be located under the street level and on the higher floors of 655 Madison. That would value the segment of the property at roughly $7,000 per square foot.

1 month ago | globest.com | Lynn Brackpool Giles |John Manganaro

The data center industry experienced record growth in 2024, with unprecedented transformation driven by “historic absorption rates from hyperscale operators and the rapid advancement of artificial intelligence (AI),” according to a new Colliers’ 2025 report. And while there are positive indicators ahead, the sector is facing challenges due to AI’s considerable power consumption, causing investors and operators to get creative.

2 months ago | globest.com | Kristen Smithberg |Lynn Brackpool Giles |Erik Sherman

In a challenging era for CRE finance, these men, women, teams and companies have demonstrated exceptional prowess in navigating choppy waters. They managed to steer through a period of elevated interest rates and successfully grappled with falling property valuations, a trend that has made refinancing particularly tricky for many in the sector. Moreover, they have shown an uncanny knack for operating within capital markets that have become increasingly stringent.

2 months ago | globest.com | Erik Sherman |Kristen Smithberg |Lynn Brackpool Giles

The global trade world got a rocky start to the week when President Donald Trump announced minimum 25% tariffs on imported steel and aluminum. He also wants to set import tariffs to match what other countries charge and has suggested tariffs on goods from the EU. Then there is the incremental 10% tariff on goods from China. According to Goldman Sachs, there will be a significant impact on corporate earnings, cutting between 2% and 3% of earnings per share of the S&P 500.

2 months ago | globest.com | Erik Sherman |Kristen Smithberg |Lynn Brackpool Giles

“Distress rates are up” has become the commercial real estate equivalent of “dog bites man.” The overall rate for CMBS financed properties has reached a record fifth straight high of 11.5%, adding 90 basis points in January 2025 from December’s 10.6%, according to CRED iQ. The special servicing rate was up 50 basis points to 10.3%. In January 2024, it was 6.7%. And the delinquency rate was nearly 9.0%. The highest level of distress, as anyone in CRE would likely guess, is office.