Friday, November 6, 2026
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BLS: U.S. Economy Unexpectedly Adds 165,000 Jobs in October

by Abby Cox

WASHINGTON, D.C. — Total nonfarm employment in the United States increased by 165,000 jobs in October, according to the U.S. Bureau of Labor Statistics (BLS). The figure shows an unexpected increase from the upwardly revised +60,000 in September, and far above the 59,000 figure projected by Dow Jones economists, according to CNBC. The unemployment rate nudged down to 4.1 percent, compared to the forecasted 4.2 percent. In addition, August’s number increased by 53,000, raising the total to 186,000, while September revisions increased by 31,000. With these revisions, employment in August and September combined is 84,000 percent higher than previously reported. October job gains mostly occurred in professional and business services (+70,000), well above the average monthly gain of 15,000 over the prior 12 months. The sector has also added 269,000 jobs since a recent low in October 2025. Employment continued to trend up in professional, scientific and technical services (+33,000), administrative and support and waste management and remediation services (+28,000) and in management of companies and enterprises (+9,000). Healthcare added 42,000 jobs in October, which is higher than the average monthly gain of 31,000 over the prior 12 months. Employment gains occurred in hospitals (+16,000), home healthcare services (+11,000) and outpatient …

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DevelopmentFloridaIndustrialLoansSoutheast

Hernandez Development, PTM Partners Receive $17.3M Construction Loan for Industrial Project in West Palm Beach

by Abby Cox

WEST PALM BEACH, FLA. — Hernandez Development & Construction and PTM Partners have received a $17.3 million construction loan for the development of Palm Beach Commerce Center, a planned 93,556-square-foot industrial building in West Palm Beach. Pinnacle Financial Partners provided financing for the project on behalf of the borrowers. The joint venture purchased the 8.1-acre site for $11.5 million in April 2026, and site work began in October. Completion of the development is expected for the third quarter of 2027. The dock-high, tilt-up building will feature 84,200 square feet of warehouse space and 9,356 square feet of office space, with 32-foot clear heights and 54-foot column spacing. The project team includes Hernandez Construction (general contractor), Hernandez Development Services (developer) and CBRE (leasing).

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Alta-Meadowlands
DevelopmentMultifamilyNorth CarolinaSoutheast

Wood Partners, GrayCo Capital to Break Ground on 301-Unit Multifamily Community Near Durham

by Abby Cox

HILLSBOROUGH, N.C. — Wood Partners, in partnership with GrayCo Capital Advisors, will break ground on Alta Meadowlands, a 301-unit multifamily community located in Hillsborough, approximately 13 miles northwest of Durham. The apartment complex, which is expected to be completed in spring 2028, will be situated within the Meadowlands Business Park and adjacent to the Orange County Sportsplex. Alta Meadowlands will offer 146 one-bedroom, 135 two-bedroom and 20 three-bedroom apartments. Roughly 10 percent of the units will be income restricted. Amenities at the complex will include a clubhouse, fitness center, coworking space, gaming and lounge areas, a swimming pool, dog park and a pet spa. As part of the project, Wood Partners is also constructing a new pedestrian sidewalk path to directly connect the Eno Haven senior community to the adjacent Orange County Sportsplex and the nearby Passmore Senior Center. Wood Partners acquired the site from Duke Health. Emilee Collins and Mark O’Neal of Pickett Sprouse Commercial Real Estate represented the seller in the land transaction. 

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LoansOfficeSouth CarolinaSoutheast

Redline, WDIP Secure Refinancing for 87,380 SF Creative Office Property in North Charleston

by Abby Cox

NORTH CHARLESTON, S.C. — Redline Property Partners and Walker & Dunlop Investment Partners (WDIP) have secured an undisclosed amount of capital for the refinancing of Port 26, an 87,380-square-foot creative office property located in North Charleston. Patterson Real Estate Advisory Group arranged the loan on behalf of the borrowers through United Bank. Further details of the transaction were not disclosed. Redline acquired the vacant former Department of Defense building in December 2021 and completed a comprehensive renovation in 2023. The property was fully leased at the time of financing to six tenants: RXO, KBR Engineering, Beazer Homes, Ryan Homes, Integrated Controls and Information and Prometric, with a weighted average lease term (WALT) of 5.5 years. Port 26, which is situated within a federal HUBZone, is also in proximity to Boeing’s 787 campus, the Naval Information Warfare Center and the Port of Charleston.

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AcquisitionsContent PartnerDevelopmentIndustrialLeasing ActivityLee & AssociatesMidwestMultifamilyNortheastOfficeRetailSoutheastTexasWestern

Lee & Associates’ Q3 2026 Report: Industrial Rebounds, Office Stalls, Retail and Multifamily Gain Ground

by Sarah Daniels

After three years of new construction outpacing tenant demand in many sectors and areas, commercial real estate posted a mostly encouraging report card in the third quarter of 2026. Lee & Associates’ 2026 Q3 North America Market Report shows industrial demand nearly doubled from the second quarter, while retail and multifamily extended their rebounds. Office, the sector that had been staging a comeback, slipped back into negative tenant demand territory. Sponsored: Download Lee & Associates’ 2026 Q3 North America Market Report.  Industrial Overview: Tenant Growth Gains in United States There has been broad general improvement across North American industrial markets, with demand for space rebounding in the United States. Third-quarter net absorption totaled 84,081,618 square feet, as more users gradually have set aside tariff and trade concerns that have hobbled tenant expansion since 2023. The third-quarter gains are an 89 percent improvement from 44.4 million square feet in the second quarter and a year-on-year jump of 172 percent. The third quarter’s growth brought the year-to-date total to 161.2 million square feet as net absorption has recovered from three years of tepid growth. Despite the increase so far this year, tenant expansion continues to fall short of absorbing the volume of deliveries that …

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AcquisitionsKentuckyRetailSoutheast

Kimco Realty Acquires Two Grocery-Anchored Shopping Centers in Louisville for $295M

by John Nelson

LOUISVILLE, KY. — Kimco Realty has purchased two grocery-anchored shopping centers in Louisville’s East End neighborhood for a combined $295 million. The New York-based owner-operator acquired the properties, the 351,000-square-foot Paddock Shops and the 390,000-square-foot Shelbyville Road Plaza, using 1031 exchange proceeds from dispositions made earlier in the year. The sellers were not released, but Louisville Business First reported that Hagan Properties was the previous owner of Shelbyville Road Plaza and a joint venture between CBRE Strategic Partners U.S. Value 9 and Fairbourne Properties purchased Paddock Shops in 2023. Paddock Shops was 94 percent leased at the time of sale to tenants including The Fresh Market, REI, Total Wine & More, Pottery Barn and Ulta Beauty. Shelbyville Road Plaza was 92 percent leased at the time of sale to tenants including Trader Joe’s, Nordstrom Rack, Burlington, Ross Dress for Less and Old Navy. Kimco Realty now owns three grocery-anchored shopping centers in Louisville totaling 911,000 square feet. The company also owns Festival at Jefferson Court, a Kroger-anchored center near Jefferson Mall.

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AcquisitionsMultifamilyNorth CarolinaSoutheast

Comstock Agrees to Purchase 672-Unit Ascher Apartment Towers in Uptown Charlotte

by John Nelson

CHARLOTTE, N.C. — Comstock Holding Cos. has entered into a purchase agreement to acquire The Ascher, a 672-unit apartment property in Uptown Charlotte. The current owner and sales price were not released. Built in 2016, The Ascher comprises two 24-story towers housing studio, one-, two- and three-bedroom apartments. Amenities include 13,000 square feet of ground-floor retail space, a controlled-access parking garage with 900 spaces and a shared rooftop courtyard on the sixth level with pickleball courts, a fenced dog park, putting green, grilling area and café seating. Each tower also features its own clubhouse, rooftop pool, sky terrace and fitness center. Under the purchase agreement, Comstock and an unnamed institutional partner have completed transaction due diligence for The Ascher and entered into an expense sharing agreement, with each party covering transaction expenses on a pari passu basis (i.e. equal footing).

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AcquisitionsRetailSoutheastTennessee

Lincoln Arranges Sale of Whole Foods-Anchored Shopping Center in Franklin, Tennessee

by John Nelson

FRANKLIN, TENN. — Lincoln Property Co. has advised on the acquisition of Southside at McEwen, a 92,470-square-foot shopping center in Franklin, a southern suburb of Nashville. Built in 2012, Whole Foods Market anchors the center, which is situated in metro Nashville’s Cool Springs district. The store is the most trafficked Whole Foods in Tennessee and in the Southeast outside of Florida, according to Lincoln. Other tenants at Southside at McEwen include lululemon, BrickTop’s, Flower Child and Solidcore. Lincoln served as investment advisor to the buyer, a high-net-worth family office completing a 1031 exchange. The seller and sales price were also not disclosed.

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Company NewsDevelopmentFloridaLoansSoutheast

Trez Capital, Starwood Capital Partner for Residential Land, Development Financing Venture

by John Nelson

VANCOUVER AND MIAMI — Trez Capital and Starwood Capital Group have entered into a strategic partnership that will focus on origination of residential land acquisition and development loans for single-family communities across the United States. The partnership will expand Trez Capital’s lending capacity, further scaling its established residential land development financing platform. For Starwood Capital, the new venture will give the company the opportunity to finance land acquisition and development, complementing its long-standing track record in residential land investments. “Trez Capital has a strong track record in U.S. residential land lending, and we look forward to leveraging our collective strengths through this relationship,” says Anthony Murphy, managing director at Starwood Capital. The partnership is expected to be seeded with a $450 million portfolio of residential land acquisition and development loans originated by Trez Capital. The venture will target more than $1 billion in annual originations. “Starwood’s decision to partner with Trez Capital reflects the strength of our team, our origination capabilities and our expertise in this sector,” says John Maragliano, co-CEO and CFO of Trez Capital. “This will deliver additional institutional depth and enhanced financing capabilities, while supporting stronger returns and liquidity for our investors.”

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Content PartnerFeaturesMidwestMultifamilyNortheastSoutheastTexasWestern

Berkadia Partners with NYU Stern for Third Annual Multifamily Investment Case Competition

by Sarah Daniels

Berkadia recently partnered with the Chen Institute for Global Real Estate Finance at NYU Stern School of Business for the third annual Multifamily Investment Case Competition, held October 15–16. The competition brought together graduate student teams from leading business schools across the country to explore how technology can enhance investment returns in the multifamily sector. Participants were challenged to develop strategies at the intersection of apartment operations, technology and innovation financing — areas that do not often converge in traditional business school curricula. “Berkadia was honored to partner with NYU Stern for the third year in a row, highlighting our commitment to supporting young professionals and future leaders in real estate,” said Justin Wheeler, Berkadia’s CEO. “Engaging with eager, thoughtful participants and judges with deep expertise in the multifamily industry was both exciting and inspiring. This event was made possible by the dedication of university teams, fellow judges and NYU’s sustained support.” This year’s competition included teams from NYU Stern, Columbia Business School, UCLA Anderson, the University of Wisconsin–Madison’s School of Business, the University of Florida Warrington College of Business and the University of Texas at Austin McCombs School of Business. An accomplished group of industry leaders served as judges, …

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