Commercial real estate news covering office, retail, industrial and multifamily markets, valuations, CRE debt, and investment trends.
Synergy and Axonic Capital bought 265 Franklin Street for $116 million, a 32% discount from its $170 million sale two decades ago. The 65% occupied tower reflects weak post-pandemic demand. Synergy has acquired seven downtown Boston buildings since 2023 at steep discounts.
This commentary argues that the sale of the Gordon Building in Allston to a large landlord threatens the survival of longtime independent businesses due to steep rent hikes. It contends that the loss of affordable commercial space accelerates the disappearance of local retail, highlighting the tension between development and community preservation.
Ipswich Borough Council sold the former Ipswich Crown Court building on Civic Drive, empty since 2023. The 21,000 sq ft building has a Class F1 classification, allowing use as a school, museum, or gallery.
This commentary argues that the Trump administration's accelerated push to sell underused federal buildings could reshape Washington, D.C., and other cities. It examines the potential for conversion to housing or other uses, while noting the challenges of a massive maintenance backlog and the impact on neighborhoods.
Hong Kong retail tenants are pleading for rent reductions of 20-50%, but landlords are offering only 10-20% cuts or raising rents. Michael Leung of the Association for Hong Kong Catering Services Management said his five restaurants need a 20-30% reduction to survive, having already closed a 45-year-old restaurant in October 2025.
This commentary argues that office-to-apartment conversions have become increasingly ambitious and complex, using Nathan Berman's projects as a case study. It suggests that while early conversions were straightforward, developers now undertake larger, more intricate transformations, reflecting a broader trend in urban real estate.
Prologis raised its full-year earnings and investment activity guidance after Q2 results exceeded Wall Street expectations. The industrial REIT signed a record 67 million square feet of leases and reported the highest U.S. net absorption since 2022. CEO Dan Letter highlighted a growth phase where logistics, data centers, and energy reinforce each other.
RedBox Storage completed a portfolio acquisition of 17 strata assets in Hong Kong, doubling its self-storage network to 16 locations. The deal increases total gross floor area by 25% to nearly 500,000 square feet and expands into new submarkets including Hung Hom, Shek Mun and Kwai Chung.
UK industrial net absorption reached nearly 6 million square feet in Q2 2026, the strongest quarter in over three years. Defence-linked demand hit nearly 1 million square feet in H1, while Amazon and Chinese e-commerce platforms drove significant leasing activity.