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Debt on 1.6M SF San Francisco office complex was due next month.

Four have already begun the conversion process.

CB6 in Midtown East is the latest to reject bypass of land-use review.

But the question is that will lead to better price discovery or arm-twisting by investors looking for deals.

The New York City metro area has the highest concentration of these leases.

E-commerce driving need for this niche asset class that represents less than 1% of US industrial facilities.

But the sector is also facing "its first period of uncertainty" in 2024.

Spreads keep rising: big for office, moderate for industrial, low for retail.