Market Reports

How Is Music Helping Midwest Cities Find Their Rhythm?

by Kristin Harlow May 7, 2026

By Leirion Gaylor Baird, Mayor of Lincoln, Nebraska All roads lead to Lincoln. Located midway between Chicago and Denver, our capital city has long served as a crossroads for touring legends, local artists and fans who pack historic music venues night after night. Our live music scene has grown organically in bars, theaters and alleyways, becoming a defining part of our civic DNA. Now, Lincoln is intentionally amplifying this authentic strength and sound. Through the creation of the Boehmer Street music district, the City of Lincoln, in partnership with the Downtown Lincoln Association and with support from the Nebraska Department of Economic Development, is investing in assets that define our unique cultural landscape. This effort advances a longstanding plan to designate a music district as a downtown catalyst. Our vision is to convert underutilized downtown space into active, mixed-use momentum that grows economic opportunity, strengthens quality of life and brings renewed vitality to our urban core. Anchor culture, community The Boehmer Street music district links three major geographic anchors — the University of Nebraska–Lincoln campus, the State Capitol and our iconic main street — to form a walkable corridor. Longstanding, thriving music venues, including the Zoo Bar, The Bourbon Theatre, …

May 7, 2026

Industrial Market Reports Texas Texas Market Reports

Building Bifurcation: A New Framework for Evaluating Industrial Real Estate in Texas

by Taylor Williams May 5, 2026

By Taylor Williams Defined by Gemini as “the division of a system, structure or entity into two distinct branches or parts,” the term “bifurcation” is coming up more frequently in the context of industrial development in Texas — a sort of umbrella term for the process of establishing new subcategories of the property type. The past seven or so years have constituted one of the most massive industrial building booms in modern history. Like matches and gasoline, Americans’ newfound obsession with e-commerce paired with unimaginably low interest rates for much of that time, sparking an all-out industrial development and leasing mania. Capital flowed into the sector with insatiable appetite, eventually forcing yield-chasers to devise new means of unlocking value within the space lest they cannibalize each other. Of course, even before e-commerce irrevocably changed the way Americans shop and allowed industrial real estate to ascend as an institutionalized asset class, functional differences were recognized between manufacturing and distribution facilities, or between pure-play industrial and flex buildings. Investors understood the relative differences in how these subcategories of industrial product were built, operated and valued. And in terms of development, at the most basic level, the size of a building has always …

May 5, 2026

Alabama Market Reports Office Southeast Southeast Market Reports

Birmingham’s Office Market: Stabilizing, Adapting and Gaining Momentum

by John Nelson May 4, 2026

We hear this question a lot: “How is commercial real estate doing in Birmingham?” Many people assume our market is experiencing the same volatility seen in national headlines over the past few years. The reality is a bit different. Birmingham is actually a stable market. While we certainly feel broader economic shifts, our office sector has avoided many of the dramatic swings seen in larger metro areas and is gradually positioning itself for future growth. To set the stage, Birmingham’s office market consists of approximately 18.8 million square feet of multi-tenant inventory across five submarkets, four of which include Class A properties. Overall absorption for fourth-quarter 2025 totaled negative 35,336 square feet following a positive third quarter. However, the market still finished the year with 56,786 square feet of positive net absorption. Occupancy remained largely stable throughout the year, with the overall vacancy rate holding at 19.8 percent. Direct vacancy improved slightly to 16.6 percent by year-end. Leasing activity also remained steady across the market. In total, 640,255 square feet of office space was leased in 2025, representing an approximately 14 percent increase compared to the amount of office space leased in 2024. Class A transactions accounted for more than …

May 4, 2026

Market Reports Multifamily Utah Western Western Market Reports

Utah Multifamily Signals Return to Rent Growth as Supply Tightens

by John Nelson May 1, 2026

— By Patrick Bodnar of CBRE — Utah’s multifamily market remains one of the most resilient and compelling real estate environments in the country, supported by exceptional economic fundamentals and a steadily tightening development pipeline. Utah once again ranked No. 1 in the nation in 2025 in the American Legislative Exchange Council’s (ALEC) economic outlook index, marking its 18th consecutive year at the top and earning high marks for overall performance, labor participation and business affordability. These strengths, paired with ongoing population and job growth, continue to reinforce consistent long-term demand for rental housing across the Wasatch Front. Against this backdrop, rent trends are beginning to shift. After several years of rent stagnation driven by elevated supply, rent growth is positioned to rebound in the second half of 2026. The past three years were characterized by relatively flat asking rents, but CBRE’s analysis indicates that future rent growth is approaching as new deliveries decline and supply is absorbed. This shift is largely the result of two converging factors: a meaningful slowdown in new construction starts — driven by higher interest rates and sustained construction cost pressures — and persistently strong absorption, which places Utah among the top-performing absorption markets in …

May 1, 2026

Industrial Market Reports Midwest Midwest Market Reports Ohio

Columbus Industrial Market Accelerates Amid Mega-Projects, Strategic Growth

by Kristin Harlow April 30, 2026

By Derek Lichtfuss, Newmark Columbus, Ohio, is emerging as one of the nation’s most dynamic industrial markets. With a strategic location, robust infrastructure and a diversified economy, the metro area is attracting industrial, manufacturing and logistics investment at a pace rivaling traditional coastal hubs. According to Newmark Research, Columbus’ industrial market closed 2025 with positive absorption of 8.8 million square feet — ranking among the top five U.S. markets. Remarkably, the fourth quarter alone contributed more than 3 million square feet, marking the second consecutive quarter above that threshold. The market’s fundamentals underscore its strength. Vacancy ended the year at 7.2 percent, down from 9.7 percent in 2024. Asking rents, while largely flat in 2025, have climbed for six consecutive years, reflecting steady demand. More than 5.2 million square feet are currently under construction, signaling developer confidence. Drivers of growth Several factors drive the city’s momentum. Columbus benefits from an exceptional logistics profile. The metro area can reach roughly 50 percent of the U.S. population within a one-day drive or train, bolstered by I-70, I-71 and the second-largest inland port at Rickenbacker International Airport. Its multimodal capabilities — including Norfolk Southern rail and cargo air — have made it a …

April 30, 2026

Market Reports Northeast Northeast Market Reports

Taxable Status Date Versus Valuation Date: Key Differences in Property Tax Law That Northeast Commercial Owners Should Know

by Taylor Williams April 30, 2026

By Jason Penighetti of Forchelli Deegan Terrana Whenever commercial property owners challenge their real estate tax assessments, two critical dates are significant: the taxable status date and the valuation date. While the two dates sound as if they could be interchangeable, each serves distinct purposes and is firmly established in law. More to the point, confusing the two can derail even the strongest assessment challenge. The taxable status date is the point in time when assessors determine the property’s ownership and physical condition. This process serves to answer two questions: who owns the property, and what does it look like? This date typically falls early in the calendar year. Many New York jurisdictions utilize a March 1 taxable status date, as does Connecticut. In New Jersey, the key date is Oct. 1 of the prior year, while in Massachusetts, it falls on Jan 1. As of that day, assessors look at two components: the ownership of the parcel and its condition. Events occurring afterward generally do not affect the current year’s assessment. If a new addition is completed after the taxable status date, it will not increase that year’s value. Likewise, if a property suffers catastrophic damage or partial demolition …

April 30, 2026

Market Reports Retail Texas Texas Market Reports

How Service Retail Is Stabilizing Houston’s Shopping Centers

by Taylor Williams April 28, 2026

By Jason Baker, principal at Baker Katz If you’re only following the national headlines, retail real estate can seem like it’s still defined by store closures and disruption. That’s still part of the story, but on the ground in Houston, the picture is more balanced. Fundamentals remain strong and occupancy remains high across the market. Even as new projects reach completion and new space comes on line, demand continues to keep pace. When space becomes available, it doesn’t sit for long — often with multiple deals competing for a single vacancy. What’s changing is what types of retailers are taking the space. That shift is just as important as the strength of the market. Service-oriented retail, in particular, is emerging as a stabilizing force in Houston. From Goods to Services According to recent data compiled by CoStar Group and analyzed by The Wall Street Journal, for the first time, service-oriented tenants now occupy more retail space nationally than traditional goods-based retailers. In Houston, that trend is clear in leasing activity. A significant share of the leasing activity today is driven by service categories such as health and wellness, medical, med spas, fitness, beauty and pet care. These are the tenants …

April 28, 2026

Alabama Market Reports Restaurant Retail Southeast Southeast Market Reports

Selective Growth, Strategic Redevelopment Shape Birmingham’s Retail Market

by John Nelson April 27, 2026

Birmingham’s retail market continues to show steady momentum as it moves into a new phase, defined by limited supply, strong tenant demand in key corridors and a growing focus on open-air, lifestyle environments. While higher interest rates and construction costs slowed new development activity over the past couple of years, Birmingham’s most established retail corridors have remained active. Well-located centers continue to lease space quickly, and redevelopment opportunities are beginning to reshape several of the MSA’s outdated retail properties. One of the defining characteristics of Birmingham’s retail landscape today is the limited availability of high-quality space in prime locations. Much of the vacancy that emerged during the pandemic has been absorbed, particularly in grocery-anchored centers and lifestyle-oriented districts. As a result, retailers looking for space in established corridors often face a fairly competitive leasing environment. Demand remains strong among quick-service restaurants (QSRs), boutique fitness operators, medical and service retailers and fast-casual and high-end dining concepts. Birmingham’s suburban growth corridors and mixed-use environments offer many of these advantages, allowing landlords in the most desirable centers to maintain strong occupancy while gradually pushing rents higher. Lifestyle centers Open-air lifestyle environments continue to set the standard for Birmingham’s retail landscape. The best example …

April 27, 2026

Market Reports Office Utah Western Western Market Reports

Is Salt Lake City’s Office Market Set for a Rebound?

by John Nelson April 24, 2026

— By Mike Embree of Drawbridge Realty — After 16 consecutive quarters of either negative or negligible net absorption, Salt Lake City’s office market closed 2025 on a positive note. The end result was 114,700 square feet of direct occupancy gains, per Cushman & Wakefield. This resulted in 263,000 square feet of direct absorption for the year, spurring a 500-basis point decline in the direct vacancy rate, which now stands at 19.4 percent. It’s too early to say that the market has turned the corner, but the signs are promising. For landlords, one positive in a market with about 10 million square feet of availability is that new office construction has effectively stalled for now. Only one building was delivered in 2025, adding just 180,000 square feet to the existing inventory with no new office projects on the drawing board. At the same time, more than a dozen buildings were removed from the office leasing market, either by developers pursuing multifamily conversions or purchases by owner-users. One such sale occurred in the fourth quarter when the Salt Lake City Corporation of Public Utilities purchased One Airport Tech, a two-story, 87,657-square-foot building near Airport Technology Park campus. C&W data notes …

April 24, 2026

Market Reports Midwest Midwest Market Reports Minnesota Office

In 2026, Twin Cities Office Market Is Sorting

by Kristin Harlow April 23, 2026

By Anders Pesavento, Cushman & Wakefield If you have ever been to a pro sports game or a concert and felt that collective buzz, you know exactly what I mean — it is electric. The kind of energy that makes you look around and think, right, this is why we do this. I felt it first-hand when the Cross Country Skiing World Cup came to Minneapolis in 2024, and more than 30,000 people packed into one place to cheer on the athletes. That day was a reminder you cannot replicate with a livestream or a group chat: humans feed off other humans. The office market is tapping into that same instinct, just in a quieter way. That is why the conversation has moved from whether office matters to which offices matter. It is not a blanket comeback. It is a sorting. We are not rewinding to 2019. Companies are using spaces differently and choosing buildings that help them recruit and retain talent. Hybrid schedules are real, but so is the need for culture, onboarding and collaboration that works best face-to-face. That shift makes “vacancy” a blunt instrument. Real vacancy is the space that is truly available in buildings that can …

April 23, 2026

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