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To start with some of the big numbers, the early January fires in the Los Angeles region—the most damaging ones in U.S. history—caused at least an estimated $250 billion, only roughly $30 billion to $45 billion of which will be covered by insurance. Put another way, even that conservative estimate of the economic damage adds […]

Source: Trepp The Trepp CMBS Special Servicing Rate pulled back 2 basis points to 9.87 percent in January 2025. This was the first decline in the monthly rate since December 2023. The main driver of the rate’s decrease was the increased overall balance of all CMBS loans outstanding. Compared to last month, the balance of […]

Office sale prices continued to decline in 2024, according to the latest CommercialEdge report, reflecting ongoing uncertainty in the sector amid entrenched remote and hybrid work trends. Suburban submarket office prices fell 15 percent in 2024, reflecting a notable, yet less severe decline than CBD and urban submarket properties. Image by TrongNguyen/iStockphoto.com The average sale […]

The March Issue of CPE Is Now Available! Jessica Fiur, Editor-in-Chief Feature. Image by Ron Blunt Photography Office. Image courtesy of Glenstar Brokerage. Image by Wavebreakmedia/iStockphoto.com Economist’s View. Image by MotionIsland/iStockphoto.com Transactions. Image courtesy of Tishman Speyer READ THE MAGAZINE Editor’s NoteAdaptive Reuse’s Makeover Moment Market PulseThe Latest Economic, Demographic and Industry Data  TransactionsMajor Sales […]

The buildings at The XChange include R&D-focused features and multiple amenities. Image courtesy of CommercialEdge Shorenstein Investment Advisers has teamed up with Tritower Financial Group to acquire The Xchange, a 480,000-square-foot office and R&D complex in Bedford, Mass., $96 million. The new ownership also secured $50 million in acquisition financing provided by Barings, according to […]

Echo Park 303’s Building A includes 56 dock-high doors and two grade-level doors. Image courtesy of Cushman & Wakefield LBA Logistics has purchased a 220,240-square-foot, fully occupied Class A industrial facility in Glendale, Ariz. The property changed hands for $39 million, according to CommercialEdge. Echo Real Estate Capital Inc., in joint venture with Grandview Partners, […]

MDH Partners has acquired a portfolio of two industrial properties in Las Vegas. The acquisition represents the Atlanta-based company’s first move into the Nevada market. Link Logistics sold the assets for $94 million, according to CommercialEdge. Sunrise Industrial Park One and Two, a two-building Class-A multi-tenant project totaling 509,216-square-foot in Las Vegas. Image courtesy of […]

Proptech is constantly improving. But with so many options, how do you know what is worth the investment? The CPE Executive Council shares what they’re most excited about. Janine Jovanovic Improving AI The increase in data-driven decision making powered by new and improving AI tools. I see this trend in investment due diligence, asset management, […]

Affinius Capital LLC has originated an $82.3 million loan to finance the development of Eastport Logistics Park, a master-planned four-building, 890,000-square-foot Class A industrial development in Jacksonville, Fla. Eastport Logistics Park in Jacksonville will initially include four buildings totaling 890,000 square feet. Image courtesy of RE BackOffice The borrower was a joint venture of InLight […]

Prologis has assigned to Colliers South Florida the leasing of its Prologis Miami International Tradeport, a 10-building, 1.7 million-square-foot master-planned Class A business park in the Medley submarket of Miami-Dade. Miami International Tradeport comprises 10 Class A buildings in Medley, Fla. Image courtesy of Colliers Miami International Tradeport is at 11130-11450 N.W. 122nd St. in […]

The SCHEELS store in Wauwatosa will be the company’s 36th location nationwide. Image courtesy of SCHEELS SCHEELS has signed a 210,000-square-foot lease at Brookfield Properties’ Mayfair Mall, a 1.2 million-square-foot property in Wauwatosa, Wis. The vacant space will undergo a full renovation and expansion before the opening of the new store, set for the spring […]

600 Third Ave. is a 42-story Midtown East office tower. Image courtesy of L&L Holding Co. Aaronson Rappaport Feinstein & Deutsch LLP has decided to have its headquarters remain at the Grand Central district tower through at least 2042, having signed a 15-year lease extension with L&L Holding Co. The space totals 55,269 square feet […]

Red Mountain Group Inc. has purchased Century Square, a 415,613-square-foot shopping center in West Mifflin. This marks the company’s first acquisition in western Pennsylvania. A private owner sold the asset, according to CommercialEdge information. Century Square occupies roughly 64 acres some 10 miles from downtown Pittsburgh. Image courtesy of Red Mountain Group Inc. Completed in 1990, […]

Riverside University Health System and health-care real estate developer PMB have topped off their $580 million, 450,000-square-foot project in Mead Valley, Calif., that will integrate behavioral health treatment with medical care and social services. The public-private partnership broke ground on The Wellness Village in the Inland Empire region in June 2024, with construction work slated […]