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Construction Pipeline Continues to Bottom Out as AI Expansion Adds to Uncertainty in Office Sector
Expanded AI adoption possibilities hold sway over the future use of office space, as is demand for flexibility, which is likely to further boost the position of coworking space within the office sector, across top office markets in the U.S.
Extell Acquires Park Avenue Construction Site in $500 Million Deal
Extell Development has completed the $500 million acquisition of a block-long construction site at 405-417 Park Ave., marking the largest component of the developer’s growing Midtown assemblage. The prime Manhattan office space, situated between East 54th and East 55th streets, offers a potential rentable office capacity of up to 700,000 square feet.
Global Net Lease Completes $535 Million Merger with Modiv Industrial
For GNL, the acquisition represents a “compelling opportunity” to accelerate its transition toward earnings growth in 2026. CEO, Michael Weil, stated that the merger follows a deleveraging initiative and supports the company’s ongoing strategy to reduce office exposure. GNL’s current holdings are already heavily weighted toward industrial properties and distribution centers, which account for nearly half of its portfolio. Weil highlighted that Modiv’s mission-critical industrial assets would provide the durable, predictable cash flow necessary to meet GNL’s long-term objectives.
Michael J. Fox Foundation Moves Headquarters to RXR-Owned Building
The Michael J. Fox Foundation for Parkinson’s Research (MJFF) is preparing for a move to a new location in Midtown Manhattan, N.Y. The non-profit will occupy 68,958 square feet of office space at 530 Fifth Ave. — a 26-story office tower jointly owned by RXR and Sagehall since 2014.
Provident Nabs Memphis, Tenn., Industrial Portfolio
Provident Industrial’s acquisition incorporates more than 2.5 million square feet of Memphis industrial space across 13 buildings and represents a significant expansion of the firm’s holdings.
Top U.S. Markets for Investment in 2025: Manhattan, N.Y., & Washington, D.C. Share Spotlight
Which U.S. office markets attracted the most investor interest in 2025? We looked at data on office sales recorded last year to find out.
Top U.S. Metros for Internet Connectivity & Speed
Most U.S. households are now online as roughly 90% have a broadband subscription, according to the U.S. Census Bureau’s American Community Survey, with rates climbing above 95% in…
Bain Capital Forks Over $52 Million for South Florida Industrial Campus
Kurv Industrial, previously known as Bridge Industrial, has finalized the $52 million sale of a warehouse campus in Pompano Beach, Fla., according to official property records. Known as Bridge Point Pompano Beach Commerce Park, the asset is a high-profile industrial space in Pompano Beach, Fla., consisting of three buildings totaling 380,496 square feet. The buyer was Boston-based Bain Capital Real Estate.
A Brief History of the Skyscraper
How did humans go from five-story walk-ups to buildings that brush the clouds? The answer is a surprisingly short chain of inventions — and an apparently bottomless appetite…
April 2026 Industrial Report: Growing Demand for New Warehousing Spaces Amid Automation Adoption
Automation and AI adoption are increasing in warehouses, but structural constraints will see this trend unfold slowly over the next decade. Nevertheless, warehouse demand is already being impacted.
