The latest commercial real estate news and developments.
Prudent Growth Partners has acquired the 20,520-square-foot Eastgate Shopping Center in Batavia, Ohio, for $3.3 million. The highly leased neighborhood asset provides the private equity firm with stable, service-oriented tenancy in the growing Cincinnati suburbs.
In a major adaptive reuse deal for a legacy department store footprint, Academy Sports + Outdoors has leased the former 130,000-square-foot Macy’s space at Fairview Town Center in Texas. The transaction highlights a broader trend of sporting goods retailers absorbing vacant anchor boxes in suburban lifestyle centers.
Daiwa House Group has bought out its development partner Trammell Crow Company, taking full ownership of the 309-unit Parkside Residences in Houston in a deal valued at $85.2 million. The transaction marks the successful conclusion of a joint venture that originally formed in 2019 to bring the multifamily asset to life.
Aardex has completed an adaptive reuse renovation of a historic retail property in downtown Phoenix, converting the space to meet modern commercial demands. The project highlights the growing trend of repurposing legacy retail buildings in urban cores across the Southwest.
PNC Bank is solidifying its presence in the Texas capital by relocating its regional operations into a newly developed tower in the heart of downtown Austin. The move highlights the continued demand for premium office space in the city's urban core despite broader market headwinds.
As traditional financing sources pull back from affordable housing projects, Safehold is positioning its modernized ground lease structure to fill capital stack gaps in Texas and other high-growth markets. The approach allows developers to unlock land value while maintaining long-term operational control of their properties.
Two prominent retail properties on Boston's Newbury Street have changed hands in a $113.5 million deal brokered by Newmark, underscoring sustained investor appetite for well-positioned urban retail corridors. The transaction highlights the enduring appeal of the Back Bay neighborhood among commercial real estate investors.
A 113,601-square-foot grocery-anchored shopping center in Eden Prairie, Minnesota, has traded hands for $27.7 million. Cushman & Wakefield brokered the transaction, highlighting sustained institutional demand for essential retail assets in suburban Minneapolis.
Phillips Edison & Co. has expanded its Midwest footprint with the $27.7 million acquisition of a grocery-anchored shopping center in suburban Minneapolis. The 113,601-square-foot property features a recently renovated lineup of national credit tenants.
Saks Global Enterprises has resolved its legal standoff with Simon Property Group while simultaneously securing creditor backing, accelerating its emergence from Chapter 11 protection. The dual agreements mark a pivotal step in stabilizing the iconic luxury department store's operational and financial footing.
The Puget Sound industrial market recorded an 11.5% vacancy rate in Q1 2026, a record high fueled by negative absorption and cooling tenant demand. Savills reports the region absorbed negative 800,000 square feet year-to-date as the market continues to recalibrate.
Alexandria, Virginia-based REIT AvalonBay recorded $398.7 million in core funds from operations for Q1 2026, beating analyst expectations. The operator of nearly 99,000 apartments nationwide credited a confluence of favorable asset class trends and broader economic realities driving renter demand.