Average cap rates for Class A assets declined by 33 basis points year over year this Spring.

But the narrative about people relocating to the suburbs may have become oversold.

Harbor Group International is providing $27.5 million to a hotel-to-multifamily conversion project in the Coconut Grove neighborhood of Miami.

On March 29, the company will start accommodating more people at its Redmond headquarters and nearby campuses.

Total leasing activity over the quarter totaled 4.2 million square feet, a decrease of 13.4% from the prior quarter.

"We believe in downtown," said Carlos Melo, a principal in the Melo Group. "For us, it is not only the units. It is to bring something more to our communities where people can start enjoying where they live. It is the people who are the soul of the neighborhood."

The association is asking that lumber be included in a report to the White House about securing supply chains for critical and essential goods.

President Biden has issued an executive order requiring OSHA to issue emergency temporary standards.