Thursday, November 27, 2025
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Warehouse image. Industrial photo by CHUTTERSNAP on Unsplash.
AcquisitionsContent PartnerDevelopmentFeaturesIndustrialLeasing ActivityLee & AssociatesMidwestMixed-UseMultifamilyNortheastOfficeRetailSoutheastTexasWestern

Lee & Associates’ Report: Q3 Results Shaped by Market Uncertainty, Questions of Legality, Tariffs, AI Considerations

by Sarah Daniels

Lee & Associates’ 2025 Q3 North America Market Report examines a commercial real estate landscape experiencing some pauses as the effects of exogenous forces work their way through the market. Economic and legal questions, the second- and third-order effects of tariffs, persistently high costs, unemployment concerns and the new realities of artificial intelligence (AI) have combined to produce mixed results across all property types. Demand for office and retail has increased (and their respective pipelines remain constrained). Of the four property types covered in the report — industrial, office, retail and multifamily — only retail saw transaction momentum in the previous quarter. Meanwhile, the overbuilt industrial and multifamily sectors have witnessed weakening or negative demand in the third quarter. Lee & Associates’ full, detailed market report is available to read here. The overviews for the sectors below reveal a market that seems to be holding its breath, awaiting new information. Industrial Overview: Markets Await Tariff Clarity Net absorption of industrial space increased in the third quarter across North America, but demand was weak and failed again to keep pace with the supply of new buildings, while tenant growth remained hobbled by tariff concerns and interest rates. In the United States, following 8.1 million square feet …

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Wells-Fargo-Irving
DevelopmentOfficeTexas

Wells Fargo Opens 850,000 SF Regional Headquarters Campus at Las Colinas in Irving

by Taylor Williams

IRVING, TEXAS — Wells Fargo (NYSE: WFC) has opened its 850,000-square-foot campus in Irving’s Las Colinas district that will serve as the San Francisco-based banking giant’s new regional headquarters office. Developed by KDC, the campus consists of two 10-story, 400,000-square-foot buildings and a connecting parking garage, as well as various open green spaces, all on a 22-acre site. Amenities include a dining pavilion, fitness center and walking trails. Wells Fargo expects to employ about 3,000 people at the campus, inclusive of the hiring of 650 new staffers. Corgan served as the project architect, and Austin Commercial was the general contractor. Construction began in spring 2023 and topped out about a year later. Wells Fargo first announced the project in fall 2022.

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Leasing ActivityMidwestOfficeOhio

CBRE Signs 19,500 SF Lease to Relocate Columbus, Ohio Office

by Kristin Harlow

COLUMBUS, OHIO — CBRE has signed a 19,500-square-foot lease at 10 W. Nationwide Boulevard, a trophy office building within the Arena District in downtown Columbus owned and developed by Nationwide Realty Investors. The firm will relocate form 200 Civic Center Drive in summer 2026. The new office on the fifth floor is part of CBRE’s Workplace360 program, which includes innovative technology and a variety of collaborative spaces designed to support hybrid working. Brandon Ellis and David Morgan represented CBRE on an internal basis. CBRE has also been named the leasing agent for 10 W. Nationwide Boulevard, which rises five stories and totals 200,000 square feet. Designed by Ohio-based architectural firm Lupton Rausch, the building features an outdoor area that connects to parking areas and nearby amenities. The lobby and first-floor amenity space are being updated to include refreshed conference rooms and a café with indoor and outdoor seating.

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Leasing ActivityNew YorkNortheastOffice

Huge Inc. Signs 16,909 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Huge Inc. has signed a 16,909-square-foot office lease in Midtown Manhattan. The global design and technology company will occupy the entire eighth floor of the 12-story building at  53 W. 23rd St. Jeff Buslik, Brad Cohn and Alan Bonett of Adams & Co. represented the landlord, an entity doing business as 23 R.P. Associates LLC, in the lease negotiations. Gabe Marans and David Mahoney of Savills represented the tenant.

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DevelopmentKansasMidwestOfficeRetail

Copaken Brooks Begins Development of 24,000 SF Retail, Office Building in Lenexa, Kansas

by Kristin Harlow

LENEXA, KAN. — Developer Copaken Brooks has broken ground on The Village at AdventHealth retail and office building at Lenexa City Center in Kansas. Located at the northeast corner of 87th Street Parkway and Scarborough Street, the 24,000-square-foot building will bring two new restaurants, Urban Egg and Stoney River Steakhouse and Grill. Additionally, Five Four is constructing a 10,000-square-foot standalone restaurant with an outdoor games area. The project will also feature 10,700 square feet of Class A office space on the second floor. Molly Crawford Munninghoff and John Coe of Copaken Brooks are handling leasing for the office space.

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Leasing ActivityMassachusettsNortheastOffice

Insurify Signs 21,000 SF Office Lease in Cambridge, Massachusetts

by Taylor Williams

CAMBRIDGE, MASS. — Insurify has signed a 21,000-square-foot office lease in Cambridge. The insurance technology company will occupy the entire sixth floor of 201 Broadway, a 119,000-square-foot building in the Kendall Square area. Robert Fitzgerald, Patrick Grady, Jim Boudrot, Peter Evans, Steve James and Henry Birmingham of regional brokerage firm Hunneman represented the landlord, The Davis Cos., in the lease negotiations.

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Leasing ActivityOfficeSoutheastVirginia

Divaris Arranges 24,476 SF Office Lease Renewal in Downtown Norfolk

by John Nelson

NORFOLK, VA. — Divaris Real Estate has arranged a 24,476-square-foot office lease renewal in downtown Norfolk for Wall, Einhorn & Chernitzer PC (WEC). The locally owned accounting and advisory firm has been a tenant in downtown Norfolk for more than three decades. WEC will continue to occupy the 12th floor of the office building at 150 W. Main St. Michael Divaris of Divaris Real Estate represented WEC in the lease transaction. Persifor Frazer of Colliers represented the undisclosed landlord.

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DevelopmentOfficeTexas

Swinerton Nears Completion of 45,384 SF Mass Timber Office Project in East Austin

by Taylor Williams

AUSTIN, TEXAS — General contractor Swinerton is nearing completion of a 45,384-square-foot mass timber office project in East Austin. Designed by local architecture firm Dick Clark & Associates, the four-story building will include retail showroom and restaurant space. Lindgren Development owns the building, which is preleased to tenants including Beck-Reit Commercial Real Estate, Legacy Lighting and Art + Artisans, as well as Swinerton. All of these groups are also partners on the project. Delivery is slated for February. Construction began about a year ago.

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8905-S-Pecos-Rd-Henderson-NV
AcquisitionsNevadaOfficeWestern

Pecos Beltway Holdings Sells Two Office Buildings in Henderson, Nevada for $5.9M

by Amy Works

HENDERSON, NEV. — Pecos Beltway Holdings LLC has completed the sale of two single-story office buildings within Pecos 215 Plaza in Henderson. A private buyer acquired the multi-tenant property for $5.9 million. Located at 8905 and 8935 S. Pecos Road, the asset offers 21,908 square feet of office space. Michael Hsu of CBRE represented the seller in the transaction.

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Leasing ActivityOfficeTexas

Holt Lunsford Negotiates 24,626 SF Office Lease Renewal in North Dallas

by Taylor Williams

DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 24,626-square-foot office lease renewal in North Dallas. The tenant is marketing and financial services provider Aperia. The space is located within The Belvedere, a 141,180-square-foot building. John Dickenson and Paul Hernandez of Holt Lunsford represented the landlord, an entity doing business as InPoint Addison Belvedere, in the lease negotiations.

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