Over $43 billion in data center sales has been recorded in CoStar since January 2024. Leverage this intelligence to make your move in one of the worldâs fastestâgrowing commercial real estate sectors.
đ° Chicagoâs longâawaited casino is officially rising, with Ballyâs $1.7B riverfront casino and 34âstory hotel reaching full height â a major step toward the cityâs first permanent casino and a key test for urban casinoâanchored development.
âI think itâs really as simple as, why should Chicagoans, jobs and tax dollars leave and go 25 miles away to a different state?â @ballyschicago Chairman Soo Kim said of nearby Indiana. âWhy should the neighboring towns get all the jobs and money? The average American lives less than a half-hour from a casino. Thatâs just how it is. Thereâs legalized gaming in over 40 states. I just think that everyone is going to want their own version to meet their own community needs.â
đ¸ Footage by CoStar photographer Nikolas Kyriakopoulos
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An aging Westminster Mall site in Orange County is being redeveloped into an 83âacre mixedâuse neighborhood with 2,250 homes, retail, a hotel and green space after its demolition.
The project reflects a broader shift toward replacing struggling malls with housingâfocused developments amid limited land supply and a persistent regional housing shortage.
âIf we donât provide housing across all spectrums in Orange County, our children are going to move to Arizona and Texas for their piece of the American dream,â said Bill Shopoff, president and chief executive of Irvine, California-based Shopoff Realty Investments. âMy dream is a life cycle where someone moves from affordable rent to a market unit and someday buys a house.â
The scale of the property allowed designers to move beyond parcelâlevel redevelopment and instead plan an entire neighborhood, according to Ioanna Magiati, a partner with architecture firm @architects_orange , which is heading design.
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A half-empty office tower at 2 N. LaSalle St. in Chicagoâs Loop has been put up for sale after being handed back to its lender, reflecting ongoing distress in the office market. Still, its proximity to @Google âs future office and a recent uptick in nearby deals suggest potential upside as investors bet on a downtown recovery.
Known in real estate circles as the âGoogle effect,â the dynamic refers to how Googleâs presence can materially boost office demand, rents and investment in a market, often reshaping entire neighborhoods rather than just one building.
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The Department of Homeland Security's Office of Inspector General has launched an audit into whether ICEâs more than $1 billion in warehouse purchases and conversions into detention centers were done in a cost-effective manner.
The review follows a series of deals across eight states as part of a broader $38 billion plan to expand and modernize the agencyâs detention network.
On average, ICE paid a premium ranging between 12% and 13% for the 11 deals, with some properties trading at double-digit increases at over 30%, according to the latest analysis from Juan Arias, CoStar's national director for U.S. industrial analytics.
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Rising tariffs, geopolitical tensions and strong demand for high-quality workspace are driving office fit-out costs across the U.S. and Canada up 3% to 10% year over year, according to @JLL .
At the same time, a shift toward tech-enabled, modern offices is forcing building owners to invest heavily in upgrades, raising costs further and widening the gap between newer and older properties.
"Tariffs have reset the cost floor for construction materials across the region. Costs are still transmitting through supply chains," JLL said in the report. It added that the United States-Mexico-Canada trade renegotiation that is slated for July "carries potential for further escalation before year-end."
JLLâs study shows office fitâout costs averaging about US$295 per square foot across Canada and the U.S., compared to $205 globally.
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@Google opened its 10th U.S. retail store at San Diegoâs Fashion Valley mall, expanding its brickâandâmortar presence as it showcases devices like Pixel phones, Fitbit and Nest products.
The move reflects a measured push to compete with rivals like @Apple while using physical stores to drive product discovery and deepen engagement with its broader tech ecosystem.
âGoogle has been cautious with stores as they donât have the pulling power of Apple and the interest from consumers is much narrower,â said Neil Saunders, managing director and retail analyst at consulting firm GlobalData.
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Big changes are reshaping Maryland horse racing đ Just weeks before the @preaknessstakes runs this weekend, 1/ST sold Laurel Park and the eventâs branding for more than $130 million to Churchill Downs Inc., marking a major exit from the stateâs racing scene.
Maryland said its equine ecosystem serves as a pillar of the state's economy, generating $3 billion in annual economic activity and supporting more than 28,000 jobs.
Churchill Downs, the owner of the Kentucky Derby racetrack, and 1/ST are expected to close on their transaction after the running of this yearâs Preakness.
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Oxos has signed a 40,000-square-foot lease at Midtown Atlantaâs Tower Square, becoming the first office tenant since AT&T vacated the building in 2020 and marking a turning point for the long-empty tower.
The deal follows renovations by owner Icahn Enterprises, a firm led by billionaire Carl Icahn, to reposition the property with upgraded amenities, signaling renewed demand for well-located, transit-accessible office space.
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The Texas Stock Exchange is exploring adding a digital ticker to a new Uptown Dallas office tower, signaling its push to establish a permanent presence and boost the cityâs emergence as a financial hub dubbed âYâall Street.â
The proposal reflects growing momentum among financial firms to enhance Dallasâ profile, though it may require changes to local signage rules to move forward.
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@Blackstone has secured more than $4 billion in new floating-rate debt across three industrial portfolio refinancings in 2026, highlighting strong investor appetite for logistics assets.
The deals, backed by 213 warehouse properties, reflect lendersâ confidence in the sectorâs stable fundamentals and rent-growth upside even as other parts of commercial real estate face stress.
BX Trust 2026-CIP, carries a $1.3 billion mortgage loan secured by 83 industrial properties spanning 13 million square feet across 15 states, according to a Fitch Ratings presale report.
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@kilroyrealty sold nearly 400 luxury apartment units in Hollywood for $202 million, marking the largest multifamily deal in Los Angeles this year as it pivots away from residential assets.
The move reflects both a broader strategy to refocus on office and life-science properties and a realization that strong apartment demand didnât translate into expected synergies with nearby office space in its mixed-use developments.
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