A separate group buys the land under Cosmopolitan of Las Vegas, while MGM Resorts leases it for $200 million a year.

"This is a rare opportunity indeed, as the towers sit directly atop and are connected to the Brightline train platforms, in addition to three other modes of rail transportation and over 160,000 square feet of retail in MiamiCentral," said Robert Given, of Cushman & Wakefield.

Sales of CBD properties remain muted because of uncertainty about office space use in urban areas.

However, public transit use has still not reached pre-pandemic levels in most areas.

Industrial sector stays hot with the proposed $3.1 billion deal at 19.5% premium to WPT's 30-day average.

Restaurant industry continues gradual recovery in August; Dine-in visits remain well below pre-pandemic levels.

The US has recovered 75% of the 22.8 million jobs lost to the pandemic with 4.7 million jobs having been created in 2021.

Net absorption increased into positive terrain for the first time since 2020.