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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 world’s fastest‑growing commercial real estate sectors.

🎰 Chicago’s long‑awaited casino is officially rising, with Bally’s $1.7B riverfront casino and 34‑story hotel reaching full height — a major step toward the city’s first permanent casino and a key test for urban casino‑anchored development.

“I think it’s really as simple as, why should Chicagoans, jobs and tax dollars leave and go 25 miles away to a different state?” @ballyschicago Chairman Soo Kim said of nearby Indiana. “Why should the neighboring towns get all the jobs and money? The average American lives less than a half-hour from a casino. That’s just how it is. There’s legalized gaming in over 40 states. I just think that everyone is going to want their own version to meet their own community needs.”

📸 Footage by CoStar photographer Nikolas Kyriakopoulos

🔗 Learn more about the development at the link in our bio.

Apartment rents are climbing in coastal cities like New York and San Francisco, where limited new construction and strong demand are tightening vacancies and pushing pricing higher.

Meanwhile, Sun Belt markets are seeing rents decline as a surge of newly delivered units continues to outpace demand, forcing landlords to offer concessions and wait for supply to be absorbed before growth rebounds.

🔗 Learn more at the link in our bio.

Canadian furniture retailer @cozey is expanding into the U.S. with its first permanent store in New York’s Flatiron District after initially entering the market with a pop-up.

The move marks a broader push by the fast-growing, online-born brand to establish a physical retail presence as it targets further expansion across North America.

🔗 Learn more at the link in our bio.

@lennarhomes's multifamily arm Quarterra is marketing a 3,746-unit, 10-property apartment portfolio for sale across the U.S. as part of an ongoing effort to reshape its holdings.

The move comes just months after Lennar announced it was selling a majority stake in Quarterra to alternative asset manager TPG, which said it was making a $1 billion commitment with plans to raise additional funds for growth.

🔗 Read more at the link in our bio.

Applied Optoelectronics has rapidly expanded its Houston footprint with multiple industrial leases totaling about 1.5 million square feet this year, underscoring surging demand tied to AI and data center growth.

Long defined by oil, gas and petrochemicals, Houston is now adding a new role as a manufacturing and logistics center for the artificial intelligence boom.

🔗 Learn more at the link in our bio.

An aging Westminster Mall site in Orange County is being redeveloped into an 83‑acre mixed‑use 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 housing‑focused developments amid limited land supply and a persistent regional housing shortage.

“If we don’t 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,” said Bill Shopoff, president and chief executive of Irvine, California-based Shopoff Realty Investments. “My dream is a life cycle where someone moves from affordable rent to a market unit and someday buys a house.”

The scale of the property allowed designers to move beyond parcel‑level redevelopment and instead plan an entire neighborhood, according to Ioanna Magiati, a partner with architecture firm @architects_orange, which is heading design.

🔗 Read more at the link in our bio.

A half-empty office tower at 2 N. LaSalle St. in Chicago’s 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’s 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 “Google effect,” the dynamic refers to how Google’s presence can materially boost office demand, rents and investment in a market, often reshaping entire neighborhoods rather than just one building.

🔗 Learn more at the link in our bio.

The Department of Homeland Security's Office of Inspector General has launched an audit into whether ICE’s 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 agency’s 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.

🔗 Read more at the link in our bio.

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."

JLL’s study shows office fit‑out costs averaging about US$295 per square foot across Canada and the U.S., compared to $205 globally.

🔗 Learn more at the link in our bio.

@Google opened its 10th U.S. retail store at San Diego’s Fashion Valley mall, expanding its brick‑and‑mortar 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.

“Google has been cautious with stores as they don’t have the pulling power of Apple and the interest from consumers is much narrower,” said Neil Saunders, managing director and retail analyst at consulting firm GlobalData.

🔗 Learn more at the link in our bio.

@Google opened its 10th U.S. retail store at San Diego’s Fashion Valley mall, expanding its brick‑and‑mortar 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.

“Google has been cautious with stores as they don’t have the pulling power of Apple and the interest from consumers is much narrower,” said Neil Saunders, managing director and retail analyst at consulting firm GlobalData.

🔗 Learn more at the link in our bio.

Big changes are reshaping Maryland horse racing 🏇 Just weeks before the @preaknessstakes runs this weekend, 1/ST sold Laurel Park and the event’s branding for more than $130 million to Churchill Downs Inc., marking a major exit from the state’s 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 year’s Preakness.

🔗 Read more at the link in our bio.