The cold storage sector has long been a specialized corner in the $20 trillion commercial real-estate industry. But it is gaining traction with big property investors like Related and others, who believe that changes in the supply chain and the growing number of consumers who want more local food and diverse brands will boost this business. Cold storage inventory fell about 7% from peak to trough during the pandemic.
The highest mortgage rates in 23 years are dragging down home sales to their lowest levels since the subprime crisis period. Sales of previously owned homes in 2023 are expected to dwindle to around 4.1 million, which would mark the smallest number of sales since 2008.
The latest amenity for homeowners is an add-on known as Accessory Dwelling Units. They can be free-standing miniature homes as small as a studio apartment and tucked away in a backyard or they can reside above a garage or in a basement and extend to more than 2,000 square feet.
Luxury retailers have leased 650,000 square feet of new space in the U.S. over the past 12 months, up from roughly 250,000 square feet the prior year.
The national office average vacancy rose to 19.2% last quarter, just below the historical peak of 19.3% in 1991.
Apartment building starts fell to a seasonally adjusted annual rate of 334,000 units in August, marking a 41% decline from the pace seen the same month a year prior.
Commercial real-estate insurance costs have risen 7.6% annually on average since 2017.
Nearly 24% of the office-tower space in 18 major Chinese cities was unoccupied as of June. That is worse than the U.S., where office vacancy rates hit a 30-year-high of 18.2% in June.
Landlords with 1,000 properties or more accounted for 0.4% of U.S. home purchases during the second quarter, down from a peak of 2.4% in late 2021.