Office

Worthe Real Estate Group and Stockbridge will acquire the 32-acre Ranch Lot in Burbank with plans to invest $500 million to redevelop the site.

In Q3 net absorption turned positive in 56% of the metros Colliers tracks, up from one-third in Q2.

The class-A property is leased to Live Nation and the US Postal Service, the building's only two occupants.

Strong third quarter activity is an accurate indicator of future office leasing, the company said.

"When considering relocation, we prioritized a space that allowed for continued and sustained growth and served as a physical representation of Reed Smith's reputation in the market — thriving, soaring, energetic and well-connected."

Gross leasing volume approached 40 million square feet in the quarter for the first time since the onset of the pandemic.

Emerging TAMI firms remain a large portion of the post-pandemic marketplace.

Multifamily, industrial and even retail deals are getting financed, but urban and suburban office is still considered a challenged asset class.