When it comes to huge industrial spaces, the Inland Empire still reigns supreme, with big-name companies leasing up swaths of space that can top 1M SF. But overall, the desert market is a bit sluggish as it works its way through a backlog of inventory.
The market’s overall vacancy rate in the second quarter was 6.7%, a marginal increase over the first quarter and roughly in line with the same period last year, according to CBRE.
“We’re in a recovery phase,” CBRE Senior Managing Director Ian Britton said. 

Sleuths have solved three of the panels of the Kryptos sculpture at the agency’s headquarters. Now the artwork’s creator is announcing the sale of the solution to the fourth.

The president’s hostility toward foreign students has made American higher education a riskier proposition for them. Other countries are eager to capitalize.

The reversal risks declawing a century of consumer financial protections and replacing the backbone of bank accounts.

The division of Brookfield that owns a huge portfolio of offices, malls and stakes in funds made a loss in the second quarter of the year — albeit a loss much smaller than the same time last year. 
Brookfield Property Partners comprises $98B of assets directly owned by Brookfield, including stakes in funds managed by Brookfield Asset Management. 
The division reported a $46M loss for Q2 compared with a $789M loss the previous year. Those figures include revenue from the property it owns and movements in the value of its portfolio, as well as costs of running the assets. 
The narrower loss was mainly attributed to stakes in funds…

The Treasury secretary has been slow to divest assets, including farmland, that he pledged to shed.

Once on the Forbes 400 list of richest Americans, he donated substantially to the arts, higher education, hospitals and criminal justice reform.

New York City office is finally back.
Office visits in the Big Apple surpassed prepandemic levels for the first time last month, with visits up 1.3% this July compared to July 2019, according to a new study from Placer.ai.
New York’s finance companies, like JPMorgan Chase and Goldman Sachs, have adopted stricter in-office protocols than the overall workforce, which helped the city gain return-to-office momentum.

Haussmann Development is moving ahead with plans for a major residential project in Jamaica, Queens, taking over a stalled KD Sagamore Capital site and upping the unit count. Josef Goodman’s firm, through a limited liability company, filed plans with the city Department of Buildings for a 14-story, 207,000-square-foot building at 159-31 90th Avenue, PincusCo reported. The GF55 Partners-designed project will hold between 205 and 259 apartments — the precise number varies across project filings — along with a church sanctuary seating 400, offices for the First Reformed Dutch Church of Jamaica and an on-site apartment for its pastor. The site […]

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They transformed dolls into one-of-a-kind pieces that sold for thousands of dollars. A married couple, they died in a car crash in Italy.