Development
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Highsmith, Carol M.. (2014). "Exterior. U.S. Courthouse. El Paso, Texas." [Photograph]. Retrieved from Library of Congress, Washington, D.C..
Federal courthouse design changes could raise operations, maintenance costs: GAO report
The 2021 design updates could significantly raise the rent the judiciary and other tenant agencies must pay, the Government Accountability Office says.
By Nish Amarnath • Nov. 19, 2024 -
Gorodenkoff via Getty Images
Uptick in US life sciences activity isn’t enough to combat oversupply: CBRE
Over 70% of the construction pipeline remains unleased, with project costs and vacancy rates continuing to increase, experts say.
By Joe Burns • Nov. 14, 2024 -
Vitranc via Getty Images
U.S. office recovery continued in Q3, led by renewals: CBRE
Renewals accounted for over 40% of all leasing activity for six straight quarters, with the overall vacancy rate holding steady at 19%, according to the firm’s Q3 market report.
By Joe Burns • Updated Nov. 13, 2024 -
Michael Ciaglo via Getty Images
Denver to invest $570M in downtown revitalization after voters pass bond measure
The city plans to support projects focused on upgrading public spaces and attracting businesses.
By Ysabelle Kempe • Nov. 11, 2024 -
Courtesy of Turner Construction
Turner secures $2B deal for Vantage Data Centers campus expansion in Ohio
The expansion program will add over 1.5 million square feet of infrastructure designed to support cloud technologies and artificial intelligence, offering 192 megawatts of power capacity.
By Sebastian Obando • Nov. 8, 2024 -
Retrieved from Carnegie Mellon University on November 05, 2024
Higher ed campuses update health, wellness, accessibility amenities
Many colleges and universities are investing in facilities that promote overall well-being, including new fitness centers, mental health spaces and student support areas.
By Joe Burns • Nov. 5, 2024 -
Courtesy of Monumental Sports & Entertainment
Capital One arena owner partners with DC for $800M upgrade
Renovation efforts will include wider concourses, more elevators, a 65% expansion in concession space and a 30% increase in restrooms, Monumental Sports & Entertainment says.
By Zachary Phillips • Oct. 30, 2024 -
Retrieved from Seven & i Holdings.
7-Eleven to open over 600 stores under new design by 2027
The convenience retailer’s newest format, New Standard stores, will feature amenities such as in-store seating and electric vehicle charging stations, CEO Joseph DePinto said Thursday.
By Brett Dworski • Oct. 29, 2024 -
stellalevi via Getty Images
FAA awards nearly $1B for modernization efforts in 100+ airports
The funding aims to modernize aging terminals and ground transportation as U.S. airports face an estimated $151 billion in infrastructure needs through 2027.
By Nish Amarnath • Oct. 28, 2024 -
Fang Xia Nuo via Getty Images
Office-to-residential conversions are tough. Could dorm-style co-living be the answer?
While converting offices to microapartments can be 25% to 35% cheaper than traditional apartment conversions, such projects still face financial and zoning barriers, Pew and Gensler researchers said.
By Ysabelle Kempe • Oct. 24, 2024 -
halbergman via Getty Images
Vacant office space is costing US cities billions in annual rental losses: report
Residential conversion challenges call into question their potential role in stemming the rent losses in cities including New York and Los Angeles, Switch On Business says.
By Nish Amarnath • Oct. 23, 2024 -
Mindful Media via Getty Images
Q3 office leasing demand hit new post-pandemic highs: JLL
Shrinking construction pipelines and renewal and sublease growth have driven down availability rates for the first time since 2019, but rent growth is moderating, JLL says.
By Joe Burns • Oct. 15, 2024 -
Justin Sullivan via Getty Images
Why California’s governor hit pause on a bill aimed at ramping up adaptive reuse projects
A prevailing wage requirement and leeway for cities to issue stop-work orders for code violations were among the provisions that likely concerned Gov. Gavin Newsom, officials say.
By Nish Amarnath • Oct. 8, 2024 -
AJ Watt via Getty Images
Renewals boost H1 2024 office leasing activity to pre-pandemic levels
Large occupiers have had more success negotiating renewals as landlords seek to avoid vacancies. The tech, finance and legal sectors are driving an uptick in prime office leasing, CBRE says.
By Joe Burns • Oct. 1, 2024 -
multifocus via Getty Images
Commercial real estate recovery expected in 2025, prompting tech, sustainability investments
A majority of major real estate owner and investor organizations are more likely to channel their spending toward data and technology in 2025, but they must be deliberate about deployment, per a Deloitte report.
By Joe Burns • Sept. 30, 2024 -
gorodenkoff via Getty Images
Life sciences market steeped in gloom, with clearer skies expected
Despite a nearly 9% year-over-year decline in rents and the national lab availability rate reaching 30%, JLL forecasts the start of a recovery toward supply and demand equilibrium next year.
By Joe Burns • Sept. 26, 2024 -
Courtesy of Port Authority of New York and New Jersey
JFK International Airport’s New Terminal One to host largest airport microgrid in US
The 12-megawatt microgrid comprises solar, fuel cells and battery energy storage that can power half of the terminal’s daily operations, airport and project officials said.
By Nish Amarnath • Sept. 24, 2024 -
halbergman via Getty Images
White House creates AI infrastructure task force
AI data centers' land and electricity needs were on the agenda when Biden administration officials met with data center operators and leaders from hyperscalers, AI companies and utilities.
By Julie Strupp • Sept. 19, 2024 -
James Andrews via Getty Images
3 commercial-to-residential conversions receive city government support in Washington, D.C.
Five businesses are also getting grants to open or expand into downtown spaces that have been vacant for at least six months, D.C. Mayor Muriel Bowser announced.
By Ysabelle Kempe • Sept. 12, 2024 -
gorodenkoff via Getty Images
Colocation data center market balloons as operators face labor woes: JLL
Increased power demand has “noticeably accelerated” colocation rent increases in the past year as vacancy rates approach 0%, according to a midyear data center report.
By Joe Burns • Sept. 3, 2024 -
Courtesy of AECOM
Vegas convention center on track for 2025 completion
An AECOM Hunt-Penta joint venture recently placed the final beam on the city’s $600 million exhibition hall.
By Sebastian Obando • Aug. 22, 2024 -
bjdlzx via Getty Images
Data center vacancy rate hits record low in H1 2024 as power supply challenges persist: CBRE
Demand for high-power computing is driving a significant price gap between new data centers and legacy facilities, which lack the infrastructure to support workload demands, the firm says.
By Joe Burns • Aug. 20, 2024 -
Courtesy of ZGF
Portland International Airport debuts main terminal after Phase 1 of $2.15B expansion
The 1 million-square-foot project in Oregon includes wider TSA checkpoints with new equipment and a ground-source heat pump that can help cut energy use by 50%.
By Nish Amarnath • Aug. 16, 2024 -
Frazao Studio Latino via Getty Images
Office vacancies slow, with portfolio growth expected to increase as foot traffic ramps up
The National Association of Realtors says U.S. office vacancy rates hit a new record of 13.8% in the second quarter, while CBRE expects portfolios to stay stable or grow in the next three years.
By Joe Burns • Aug. 9, 2024 -
Courtesy of Purdue University
Purdue University’s capital plan includes $239M for construction and renovation
The 10-year plan prioritizes facility renovations, facility replacements as needed and the addition of new space only when required, a university official said.
By Sebastian Obando • Aug. 6, 2024
