The latest commercial real estate news and developments.
The national average asking rate for self storage edged up 0.1 percent to $16.07 per square foot in March, even as climate-controlled and non-climate-controlled units experienced rate declines across all Top 30 metropolitan markets.
An 86,650-square-foot grocery-anchored shopping center in Orangeburg, South Carolina has changed ownership, highlighting sustained investor appetite for essential retail assets in secondary markets. Legacy Realty Group Advisors facilitated the transaction for the property located roughly 40 miles from downtown Columbia.
Union Square's retail vacancy rate has dropped to just 8.6% in Q1 2025, marking the neighborhood's strongest occupancy levels since the onset of the pandemic. The recovery is largely credited to a surge in experiential tenants flocking to mixed-use commercial districts.
Fresh off the close of a $1.86 billion investment fund, Boston-based Berkshire Residential Investments has deployed capital into the San Francisco Bay Area, acquiring a 299-unit multifamily portfolio for $134.5 million. The four-property acquisition spans the SoMa neighborhood and Clementina Street, signaling continued institutional interest in Bay Area residential assets.
A joint venture between Riverside Investment & Development and Singerman Real Estate has acquired the former Two Wells Fargo Center in Charlotte's financial district for $36.5 million, signaling fresh life for the city's urban core. The partnership plans an extensive redevelopment of the 800,000-square-foot property, which will be rebranded as 301 South Tryon.
The Department of Justice has closed its criminal inquiry into Federal Reserve Chairman Jerome Powell, removing a major obstacle for Kevin Warsh's potential appointment as the next central bank leader. The leadership transition carries substantial implications for interest rate policy and commercial real estate financing costs through 2025 and beyond.
The standard 30-year fixed mortgage rate has declined for the third consecutive week, landing at 6.23% and providing a slight reprieve for prospective homebuyers and residential real estate investors. This modest shift marks the lowest borrowing cost seen in the market in over a month.
National Health Investors is marketing a 35-property skilled nursing and independent living portfolio for $560M, pivoting away from government-reimbursement-dependent facilities toward private-pay healthcare real estate.
Energy provider NRG is vacating 479,000 square feet in Houston's central business district, pushing the market into negative absorption for Q1. However, a 10% jump in leasing activity suggests underlying demand remains resilient.
Coliving specialist Re:shape has acquired a sprawling development site in north London with plans to deliver up to 1,000 residential units. The project will dedicate at least half of the scheme to purpose-built coliving accommodations to help address the capital's housing shortage.
Phase-change ceiling tiles originally developed from NASA thermal research are entering the commercial real estate market, offering property owners a new way to reduce energy consumption and carbon emissions. The technology absorbs and releases heat to naturally regulate indoor temperatures, decreasing reliance on traditional HVAC systems.
The rapid expansion of artificial intelligence companies is accelerating a dramatic divergence in the commercial office sector, where premier skyscrapers are securing record rents while aging Class B properties face double-digit vacancy rates. Industry analysts warn this polarization has fundamentally restructured urban real estate dynamics since the pandemic.