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The RFK campus plan calls for two multilevel garages, G1 and G2, totaling 6,000 new parking spaces. These will be in addition to the roughly 2,000 existing surface parking spaces already on site, according to submission materials from the RFK Stadium Project Management Office and the Washington Commanders.
The National Capital Planning Commission granted preliminary approval of the Commanders' stadium in April, and the Commission of Fine Arts preliminarily approved the stadium in July. Final review by the NCPC is expected in early 2027. The NCPC and CFA are now separately reviewing concept plans for the two planned parking garages.
The RFK campus redevelopment covers 180 acres and is slated to include a 70,000-seat Washington Commanders stadium, between 5,000 and 6,500 homes, and two multilevel parking garages totaling 6,000 spaces. Public space around the garages is envisioned to support arts and craft festivals, farmers markets, and outdoor concerts, according to submission materials.
A community group near the proposed G2 garage has opposed any multilevel garage near its Kingman Park neighborhood and is instead calling for a new metro station, according to the source. Members of both the NCPC and the CFA have previously expressed concerns about the garages, including whether they would obstruct views, according to the Washington Business Journal.
The Commission of Fine Arts is reviewing the garage concept plans at its Thursday meeting, with commentary and any action to be documented the following week, according to an agency spokesperson. The National Capital Planning Commission is scheduled to review the parking garage concept plans on October 1.
Vancouver commercial real estate investment volume fell 23% year-over-year to $3.5 billion in H1 2026, according to Altus Group. Capital allocation shifted toward defensive, income-oriented assets. Most major sectors recorded lower transaction volumes, with the sole exception being retail, which rose a marginal 1% to $866 million.
According to Altus Group, Vancouver office was the hardest-hit sector with a 46% year-over-year decline in transaction volume in H1 2026, followed by multi-family at down 41% and industrial at down 19%. Retail was the only sector to grow, rising 1% to $866 million.
Vancouver industrial availability stood at 5.9% in H1 2026, with four straight quarters of positive absorption, according to Altus Group. Industrial investment volume fell 19% to nearly $669 million over the same period, but Altus Group described fundamentals as staying tight despite the decline in dollar volume.
According to Altus Group, Vancouver office volume of approximately $394 million in H1 2026 was constrained more by limited high-quality supply than by weakening demand. Office availability reached 12.4%, up 10 basis points year-over-year, and has remained in the 12% to 13% range for a third consecutive year.
According to Altus Group's CRE This Week dated September 9, 2026, notable Greater Vancouver Area transactions included a retail property at 1215 56th Street, Delta sold for $18,200,000 at $650 per sq. ft., an apartment at 1025 Chilco Street, Vancouver for $10,650,000 at $355,000 per unit, and an industrial unit in Surrey for $6,350,000 at $449 per sq. ft.
The National Association of Realtors report found no single clear effect on local housing markets, with NAR Chief Economist Lawrence Yun stating the story varies significantly depending on the local market. NAR said it does not have evidence that data center clusters themselves were the drivers of higher home values, though counties with 10 or more data centers had a median home value of nearly $432,000 versus $174,500 in counties with none.
CBRE found that industrial properties within two miles of a data center command about a 7% rent premium, according to James Breeze, CBRE's head of industrial research.
NAR found residential electricity rates rose 21.4% from 2020 to 2024 in counties with 10 or more data centers, compared with 15.7% in counties without data centers. Realtors surveyed by NAR also voiced client concerns over energy costs and water use from data centers.
NAR said data centers are highly concentrated in a small number of markets, with over 90% of counties having no mapped data centers. NAR's report identified some of the largest clusters as being in Northern Virginia, Silicon Valley, central Ohio, the Phoenix area and central Washington.
NAR principal economist Nadia Evangelou said the research does not support concluding that a data center will automatically raise or lower nearby home values. NAR's survey found 25% of Realtor respondents reported a positive residential impact and 22% reported a negative impact, with roughly one third saying they were not sure. Evangelou said even half a mile of distance can make a difference.
According to NAR's 2026 Data Center Impact report, Loudoun County, Virginia, leads the nation with 213 facilities. Santa Clara County, California, ranks second with 75. Maricopa County, Arizona, and Prince William County, Virginia, each have 63 facilities. NAR researchers identified 1,474 data centers across 251 U.S. counties in total.
NAR's survey found half of respondents reported a positive impact on nearby commercial property values, with 22% saying values increased by more than 10%. Industrial properties experienced the most demand near data centers, cited by 58% of respondents, followed by land at 38%. Real estate firms make up roughly 6.4% of all businesses in counties with the highest concentration of data centers, compared with 4.9% in counties with no data centers.
NAR's data analysis found that residential electricity rates increased faster from 2020 to 2024 in counties with 10 or more data centers, rising 21.4%, compared with 15.7% in counties without data centers. However, NAR's report noted the increase did not consistently rise with the number of facilities. Energy costs were cited as the top client concern by 61% of Realtor respondents.
According to NAR's 2026 Data Center Impact report, counties with 10 or more data centers have median household incomes of about $89,000, compared with $64,000 in counties without data centers. Employment in those high-concentration counties grew about 16% from 2014 to 2024, versus 2% growth in counties without data centers. Adults in high-concentration counties hold bachelor's degrees at a rate of 41%, compared with 22% elsewhere.
Palo Alto Unified School District's Eric Holm said districts have repeatedly learned to favor demolition over renovation for buildings older than 50 years. Sacramento City Unified's Matt Juchniewicz noted that modernization does not pencil out on a per-square-foot basis when enrollment is already at 36,000 against a capacity of 57,000 and is expected to fall further.
Some Bay Area districts are converting surplus real estate to workforce housing. Jefferson Unified School District created 122 teacher housing units in Serramonte in 2022. Pacifica School District has 70 units underway after razing Oddstad Elementary School. Calistoga Joint Unified School District is creating 130 units of subsidized teacher housing in Napa County.
Nathan Herrero, principal and vice president at SVA Architects, said outdated low-slung masonry buildings are prime candidates for razing. Buildings with defining characteristics, such as a project his team encountered built with laminated timber surrounded by old-growth trees, may be worth preserving. Herrero said if a building is marginal and requires complete change of use, replacement is preferable.
Redwood City School District worked with DLR Group to design family centers at eight schools, providing food, clothing, educational workshops, and immigration guidance, funded by Measure S passed in 2022. Salinas City Elementary School District is creating community centers at nine of its schools, according to Amna Javed, director of bond projects for the district.
Lev Weisbach, Rivercrest Partners senior vice president and managing partner for the San Francisco Bay Area, said teachers are commuting long distances or leaving, creating recruitment and retention costs for districts. Weisbach said converting surplus land into teacher housing represents a 'win-win' that turns a negative into a positive for districts.
IOS investment reached $14B to $16B in 2025, an increase of 15% from the prior year, according to Matthews data. Deal activity in 2026 is projected to outpace 2025, and Max Heiden, co-founder and partner of Catalyst Investment Partners, forecasts twice as many portfolio sales this year as there were in 2025, with new records set in deal size.
Data center developers use IOS lots for construction staging and to store heavy equipment and building materials, according to the source. Data center developers make up about 20% of new demand for IOS, according to Max Heiden of Catalyst Investment Partners. Tech giants including Google and Microsoft have invested in IOS sites to advance their data center plans.
IOS vacancy stands at 3.6% nationally, versus 6.5% for industrial overall, according to CBRE's Q2 IOS report. Nationwide IOS rents hit $11.07 per SF per month in the second quarter, a 1.6% year-over-year rise, according to the same report.
The trucking industry faces a labor shortage, high diesel prices, and an industry-level recession, with some carriers canceling parking leases as the market adjusts to smaller workforces, which may soften IOS demand. Cary Goldman, founder and manager of Timber Hill Group, said his firm is seeing very modest contractions in its lots but characterized this as showing the resilience of the business.
Clarion Partners funded a 2.3M SF IOS portfolio in March 2025, Stockbridge Partners invested in a Texas portfolio in October, and Apex IOS, backed by Clarion, acquired property in Jacksonville early this year, according to the source. Blake Rodgers, principal at Steel Peak, said core-plus money has begun to enter the IOS space.
Martin Property Group has agreed a deal with PwC to take over approximately 100 NCP car park sites. Martin Property Group would assume the leases and run the operations of those sites rather than purchasing the underlying properties outright, according to Sky News.
NCP went into administration in March owing unsecured creditors, including landlords, more than £200 million. Revenue had consistently declined as fewer people drove into city centres, but NCP was tied into long leases with fixed payments and could not reduce its largest cost when income dropped.
Martin Property Group has a private equity arm that owns a small car parking business called MPG Parking. The proposed takeover of approximately 100 NCP sites would represent a major push into the car parking sector for the group.
Lysara, described as one of NCP's largest single landlords and an infrastructure investor and developer, terminated its leases with NCP and transitioned the operation of 30 car parks to Q-Park and Apex.
Martin Property Group's portfolio includes shopping centres such as Eastgate Square in Chester and Garden Square in Letchworth. The group also holds a residential development portfolio comprising 1,500 units and has acquired dozens of regional shopping centre and residential development assets in recent years.
According to Yardi, pre-leasing across the Yardi 200 — a curated set of the most important student housing markets representing 90% of institutional space — reached 89.1% in July, up from 88.1% in July 2025. However, 117 of the 200 markets were at or above their year-earlier levels, indicating significant variation across markets.
Mike Gordon, global chief investment officer for real estate at Harrison Street, said enrollment, applications, selectivity, research funding and student outcomes are increasingly concentrated at leading institutions, specifically naming Michigan, UVA, UNC and a number of large public Power Four universities, which he said are operating at or above 95% occupancy.
Harrison Street Asset Management sold a 12-property student housing portfolio for $910 million earlier this year, which was described as one of the largest dispositions in the student housing sector in recent years.
Mike Gordon of Harrison Street said differences between university markets have grown quickly due to funding cuts, enrollment trends and specific student demand, making it harder to generalize across markets. Gordon said Harrison Street's conviction in student housing overall is high, but its conviction in every student housing market is not.
Mike Gordon, global chief investment officer for real estate at Harrison Street, specifically cited Virginia Tech, Auburn University and Penn State as markets where housing supply has lagged enrollment growth.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $832,750 or less stood at 6.79%, up from 6.78% the prior week, according to the Mortgage Bankers Association. The average contract interest rate for 5/1 ARMs was significantly lower at 5.94%, a spread that is driving more borrowers toward adjustable-rate products.
Yes. The ARM share of mortgage applications reached 8% last week, its highest level in five weeks, according to MBA chief economist Mike Fratantoni. The average contract interest rate for 5/1 ARMs fell to 5.94%, well below the 6.79% average for 30-year fixed-rate mortgages, making ARMs more attractive despite their future rate-adjustment risk.
No. Applications to refinance a home loan dropped 1% for the week and were 19% lower than the same week one year ago, according to the Mortgage Bankers Association. With rates at current levels, most borrowers have very little incentive to refinance unless they need to pull equity out of their homes.
Total mortgage application volume rose just 0.8% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Purchase applications eked out a 2% weekly gain but remained 0.2% lower than the same week one year ago, when rates were 15 basis points lower.
Assembly Bill 817 would require new cold storage facilities over 20,000 SF to create and maintain a contingency fund of up to $20 million as a condition of receiving approvals to build. Senate Bill 716 would levy higher penalties for violations at large commercial buildings, including cold storage facilities, when major violations occur. Both bills are headed to Governor Gavin Newsom for approval.
Both bills were prompted by the Boyle Heights warehouse fire, which burned for a week in mid-June. The removal and cleanup of the burned and rotting contents of the warehouse was completed on Aug. 29. Nearby residents complained of rats and flies descending on the neighborhood, drawn by the smell of decay.
Provender Partners CEO Neil A. Johnson said the bills would likely make it harder to build a new refrigerated warehouse in California than it already is. Green Street Head of U.S. Industrial Research Vince Tibone said he does not think the legislation will have much impact because there is already little development happening in California, but it will add costs and roadblocks to supply over time.
High construction costs mean developers in California rarely break ground unless a project is preleased or structured as a build-to-suit. Year to date, there is approximately 600,000 SF of cold storage space under construction in the Inland Empire. The average existing cold storage facility in the Inland Empire was built in 1974, according to Newmark data.
According to the source, AB 817 would apply only to cold storage facilities in the Boyle Heights community plan area until July 2028, when it would take effect statewide.
Hackman Capital Partners sold a 57,000-square-foot flex industrial building at 401 Coral Circle in El Segundo to Majestic Asset Management for approximately $27 million, or $480 per square foot. Hackman had purchased the property in 2018 for roughly $15.3 million, according to The Real Deal.
Rivian is subleasing the full 57,000-square-foot building at 401 Coral Circle in El Segundo from Boeing. The lease expires in 2034, according to The Real Deal.
Los Angeles industrial market leasing activity totaled 15.7 million square feet in the second quarter, a 40.4% year-over-year increase, according to CBRE. El Segundo and other South Bay cities are receiving a boost from aerospace and defense tech tenants seeking to locate and grow there.
Hackman Capital Partners' studio portfolio is under financial pressure, with properties being taken over by lenders or pushed toward sales as debt on studios such as Manhattan Beach's MBS Studios and Fairfax's Television City goes into default or threatens to, according to the source.
Harlem's lab vacancy situation is the most acute in NYC. Janus Property Co.'s Taystee Lab Building at 450 W. 126th St. has been empty since it opened in 2022 and faces foreclosure. The nearby Labs On 121, a 193K SF building delivered in 2024 by Real Estate Equities Corp and Nightingale Properties, is also still empty and is now expected to be leased as office space, according to Bisnow.
Industry sources cited several factors: higher commute times from other boroughs and New Jersey; weaker transit and retail amenities compared to Kips Bay, according to Cushman & Wakefield's Sandy Romero; dependence on research institutions such as Columbia and CUNY that have been hurt by federal NIH grant cuts; and citywide challenges including high rents at $99.17 per SF and broader market uncertainty, according to JLL's John Cahill.
Scott Metzner, founder and principal of Janus Property Co., said Wells Fargo sought repayment on a matured loan and Janus was unable to pay it back. The Taystee Lab Building is now facing a foreclosure suit. Metzner said Janus needs a capital infusion to retain the Harlem properties it developed, including the Taystee, Mink, and Malt buildings.
Yes. Alexandria Real Estate Equities' 728K SF of NYC properties are 95.5% occupied, with tenants including Bristol Myers Squibb, Eli Lilly, and Pfizer's Center for Therapeutic Innovation, according to Alexandria's Q2 earnings report. In Long Island City, GFP Real Estate and King Street Capital's Innolabs is fully leased after signing deals with NYU Langone totaling more than 150K SF, plus a 16K SF deal with robotics company Rover.
The NIH issued $35.3B in grants in fiscal year 2025, down from $44.9B the prior year, with disruptions to more than 1 in 5 NIH grants nationally, according to Grant Witness. In New York, $2.1B of $4B in federally allocated NIH funds has not yet been distributed. CUNY ASRC Executive Director Mark Hauber said the cuts have prevented startup companies from receiving grants and continuing to develop, reducing the pipeline of potential tenants.
St. George, Utah is the top-ranked metropolitan market in the NAR index. Nadia Evangelou, principal economist and director of real estate research at NAR, said St. George has the most significant office employment growth in the nation, very strong population growth and in-migration, and above-average industrial demand, reflecting broader momentum rather than a single-sector spike.
South Carolina ranks highest among all U.S. states in future potential demand for commercial real estate, according to the National Association of Realtors index. The NAR index cited Spartanburg, South Carolina as one of the notable smaller markets within the state.
The NAR index compares current market conditions to 2022, the peak of the pandemic migration boom. Raleigh, North Carolina is the only major U.S. market that is stronger today than it was in 2022. Formerly strong markets such as Austin, Texas, Miami, and Naples, Florida have all declined markedly since 2022, according to the index.
NAR principal economist Nadia Evangelou cited Fayetteville, Arkansas, Huntsville, Alabama, and Spartanburg, South Carolina as notable smaller markets. Evangelou said Fayetteville is seeing broad-based growth and Huntsville has one of the strongest multifamily scores in the nation. Evangelou said small and midsized markets could provide some of the best opportunities for investors.
The NAR index uses government data from the Bureau of Labor Statistics and the Census Bureau for population and migration. For office, it measures growth in professional and business services employment. Industrial tracks manufacturing, transportation and warehousing employment growth. Retail measures retail trade and leisure and hospitality employment growth. Multifamily incorporates population growth and net domestic and international migration.
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