The industry's own research.
95 reports
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Newmark market report on Buenos Aires industrial real estate conditions and economic indicators for the fourth quarter of 2025.
Research examining how consumer sustainability expectations are shaping demand, leasing activity, and asset valuations in the retail real estate sector.
Analysis of Generation Z consumer behavior and trends shaping luxury retail real estate demand and tenant strategies.
Newmark research covering office market conditions and dynamics in Costa Rica for the first quarter of 2026.
Newmark market report covering commercial real estate activity and conditions in Buenos Aires for the second half of 2025.
Newmark market analysis of São Paulo's office sector performance and trends in the first quarter of 2026.
Newmark's market analysis of the industrial and logistics real estate sector in São Paulo for the first quarter of 2026.
Newmark analysis of the Rio de Janeiro office market for the first quarter of 2026.
Newmark analysis of industrial and logistics market conditions in Rio de Janeiro for the first quarter of 2026.
Newmark's market report on the Costa Rican industrial real estate sector for the first quarter of 2026.
Newmark's comprehensive analysis of office market conditions, trends, and performance across Latin American markets in the second half of 2025.
Newmark's analysis of industrial real estate market conditions and trends across Latin America in the second half of 2025.
This is a market report published by Newmark in the fourth quarter of 2025 providing an overview of the life sciences sector in Boston, Massachusetts.
This is a market report published by Newmark in the first quarter of 2025 covering the life science sector in the San Francisco Bay Area.
Newmark analysis examining manufacturing real estate trends and growth opportunities across key markets.
Newmark's analysis of fourth-quarter 2023 U.S. industrial market conditions, trends, and performance metrics.
Newmark's quarterly capital markets analysis covering U.S. real estate investment, financing, and transaction activity in the first quarter of 2024.
Newmark's third-quarter 2023 capital markets analysis covering U.S. real estate investment trends, financing conditions, and cross-sector market dynamics.
Newmark's comprehensive analysis of U.S. real estate capital markets activity and trends for the second quarter of 2024.
Newmark's third-quarter 2024 report covering capital markets activity and investment trends across major U.S. real estate sectors.
Newmark's capital markets analysis covering fourth-quarter 2024 U.S. real estate investment activity, financing trends, and market conditions across property types.
Newmark's capital markets analysis covering fourth quarter 2023 activity across U.S. real estate investment and financing.
Newmark's quarterly analysis of U.S. office market conditions, performance metrics, and trends for the second quarter of 2024.
Newmark's quarterly analysis of the U.S. office market covering conditions, trends, and metrics across major metropolitan areas.
Newmark's quarterly analysis of office market conditions across the United States, covering vacancy, leasing, investment activity, and sector fundamentals.
Newmark's fourth-quarter 2024 analysis of the U.S. office market covering current conditions, trends, and outlook.
Newmark's third-quarter 2023 analysis of the U.S. office market landscape, covering occupancy trends, valuations, and investment activity across major markets.
Transaction activity slowed in 1H26 amid cautious financing, but investor demand for institutional-grade logistics assets remains resilient.
Newmark's Q4 2025 US life science report: national vacancy declined for the first time in over a year as the sector reached the bottom of its correction cycle.
Q3 2025 US life science conditions: early stabilization as leasing and tenant demand modestly improved across Boston, San Diego and the Bay Area.
Newmark's Q1 2025 US life science market perspectives covering vacancy, leasing, venture funding and capital-markets liquidity.
Newmark Valuation & Advisory survey of North American multifamily markets including affordable/LIHTC product, cap rates, and investor sentiment.
Pittsburgh's office market showed early signs of stabilization in 2025, with positive net absorption in the third and fourth quarters helping to reduce overall vacancy to 24.4% by year-end, while Class A rents remained flat at approximately $29.59/SF and Class B edged modestly upward to $22.57/SF. The local economy outperformed national trends with Pittsburgh's unemployment at 3.9% versus 4.4% nationally as of September 2025, job growth led by Education and Healthcare at 3.8% and Financial activities at 2.3%, though the market experienced zero speculative office construction in 2025 due to persistent high vacancy and rising construction costs.
Northern New Jersey's office market recorded 1.9 million square feet of leasing activity in the first quarter of 2026, slightly below the two-year quarterly average of 2.1 million square feet, while the overall availability rate decreased 20 basis points to 22.7% driven by 240,846 square feet of positive net absorption. Key findings include sublease availability declining to 5.9 million square feet—the lowest level in six years—Class A office leasing accounting for more than 72.3% of overall activity, and overall asking rents averaging $32.12 per square foot with a 0.38% year-over-year increase, with Class A pricing at $35.29 per square foot representing a 9.3% premium.
Newmark's Richmond Industrial Market Overview for first quarter 2026 presents economic and leasing fundamentals for the region's industrial real estate sector. Key findings include a 5.8% vacancy rate (11th-tightest nationally), average asking rents of $8.09/SF with 7.3% year-over-year growth, 1.4 million SF of first-quarter deliveries with 70,000 SF of negative net absorption, 9.4 million SF under construction, and an unemployment rate of 3.6% significantly below the national average of 4.4%.
The St. Louis industrial market experienced negative net absorption of 1.3 million SF in the first quarter of 2026, with vacancy rising 150 basis points year-over-year to 6.0%, driven primarily by major tenant relocations including Proctor & Gamble's 806,400-SF exit and Save-A-Lot's 420,000-SF departure. The region's December unemployment rate decreased to 4.0%, 40 basis points below the national average, though industrial employment in Manufacturing and Trade/Transportation/Utilities sectors declined by 1.9% and 2.4% respectively, with the construction pipeline dominated by 3.9 million SF of build-to-suit projects representing 89% of development.
The Richmond Office Market Overview for 1Q26 analyzes the Richmond metropolitan area's office sector, finding that the market experienced 89,000 SF of negative net absorption during the first quarter, ending with a 12.8% vacancy rate while rents increased 2.9% year-over-year to $23.52/SF. Major transactions included the sale of the Cox Road Portfolio (300,364 SF) and the Stony Point Portfolio (357,251 SF), while the region's economy remained strong with a 3.6% unemployment rate significantly below the national 4.4% average and office-using employment at 188,100 employees, 4.4% above pre-pandemic levels.
This Newmark Zimmer report examines the Kansas City industrial market in first quarter 2026, finding that the region recorded 1.9 million square feet of net absorption with vacancy declining 50 basis points to 4.5%, ranking third-lowest among the top 30 U.S. industrial markets. The document reports that industrial average asking rents increased 36.3% over the past seven years to $6.20/SF, with the combined construction pipeline totaling 6.9 million square feet split between build-to-suit and speculative projects, as developers shift toward spec development planned for 2Q26.
The St. Louis office market experienced a significant slowdown in the first quarter of 2026, with negative net absorption of 545,870 square feet and vacancy rising 140 basis points year-over-year to 15.0%, as tenants reassessed space needs amid hybrid work adoption and macroeconomic uncertainty. Average asking rental rates declined to $22.17 per square foot and are projected to remain flat throughout 2026, with limited new construction activity and only 231,870 square feet currently under development as landlords contend with liquidity constraints.
St. Louis investment sales volume reached 2.4 billion dollars in the past four quarters, up 6.1 percent year-over-year, with industrial and multifamily assets accounting for 67.1 percent of activity. Capitalization rates increased 39 basis points to 7.6 percent, while multifamily rental rates hit a record high of 1,363 dollars per unit, though industrial vacancy surged 150 basis points to 6.0 percent.
The 1Q26 Kansas City office market report by Newmark covers employment trends, leasing fundamentals, and transaction activity, finding that the region's unemployment rate stood at 3.9% in December 2025 (50 basis points below the national average) while nonfarm payroll employment remained flat at -0.3%, with construction and education-health sectors leading job growth while business and professional services posted the largest losses. The report documents strong leasing momentum with 463,336 SF of net absorption in the quarter and 1.1 MSF over the past four quarters marking the seventh consecutive quarter of positive absorption, vacancy declining to 15.2% (down 130 basis points year-over-year), and average asking rents at $22.87/SF projected to grow 2.50% to 3.25% by year-end 2026.
The St. Louis Retail Report for 1Q26, published by Newmark Zimmer, examines retail market conditions in the St. Louis region, documenting net absorption of negative 179,870 square feet over the past four quarters driven by tariff-driven uncertainty and cautious tenant behavior, alongside select transaction sales including a 50,000 SF Dick's Sporting Goods property for $13.3 million and other retail assets across multiple submarkets. The report presents market overview data showing the metro vacancy rate increased 30 basis points year-over-year to 4.0%, while the National Retail Federation projects U.S. retail sales growth of 4.4% in 2026, and local market news highlights expansion by chains such as Checkers & Rally's and adaptive reuse projects including Slick City Action Park.
Investment activity in the Kansas City market reached $4.2 billion in total sales volume over the past year, representing a 20.6% increase compared to the prior five-year average, with multifamily and retail assets accounting for 66.1% of activity and the metro area ranking fourth among the 13 largest Midwest markets. Capitalization rates compressed by 98 basis points year-over-year to 6.1% in first quarter 2026, rental rates reached record highs in industrial ($6.23 per square foot) and multifamily ($1,430 per unit) sectors, and vacancy rates declined year-over-year in office, multifamily, and industrial property types.
Kansas City's retail market outperformed regional and national benchmarks in early 2026, with leasing activity exceeding new deliveries by six-to-one over the past four quarters, occupancy at 95.4%, and investment volume reaching $725 million in the preceding 12 months—a 55.5% year-over-year increase. The National Retail Federation projects U.S. retail sales to grow 4.4% year-over-year in 2026 to approximately $5.6 trillion, supported by stable employment, wage growth, and healthy household balance sheets, though risks including inflationary pressures and geopolitical uncertainty remain.
Richmond's multifamily market softened in 2025 with occupancy declining 10 basis points year-over-year to 95.2%, effective rents declining 0.1%, and sales volume reaching $800 million. Hampton Roads exhibited stronger fundamentals with occupancy increasing 70 basis points to 96.5%, effective rent growth of 3.2% year-over-year, and multifamily sales of approximately $1.1 billion, representing a 30.7% increase from 2024.
Las Vegas' industrial market experienced a slight vacancy tightening to 12.7% in first quarter 2026 as net absorption of 1.5 million square feet outpaced construction deliveries of 1.3 million square feet, with major transactions including PepsiCo's 1.0 million square foot pre-lease at North Vegas Logistics Center and DHL's 1.3 million square foot multi-building move-in. Local employment declined 0.8% year-over-year while leasing activity declined from strong 2025 levels amid headwinds from slowing population growth, elevated housing costs, and a depressed labor market.
Las Vegas's office market recorded a 12.4% total vacancy rate in first quarter 2026 (down 30 basis points from year-end 2025), with modest net absorption of 206,410 square feet, while office-using employment totaled 238,000 jobs in December 2025, up 7.8% from pre-pandemic levels but down 2.2% year-over-year. The market faces headwinds from a sluggish housing sector, declining tourism, geopolitical tensions, and an empty construction pipeline with no new professional office projects delivered since 2024, though limited supply and steady renewal activity are expected to eventually drive moderate rent increases as Class A space continues to lease quickly while older inventory struggles.
Metro Detroit's industrial vacancy rate declined 20 basis points to 4.4% in first quarter 2026 as the market absorbed 2.1 million square feet, with Southeast Oakland County experiencing a surge in demand following GM's retooling of Orion Assembly from EV to gas-powered vehicle production. The report documents major tenant activity including Lear Corporation's 346,182 SF lease and Piston Automotive's completed 715,012 SF build-to-suit, while highlighting that Detroit MSA unemployment rose to 5.3% in January 2026 and manufacturing employment posted a 2.8% year-over-year gain despite overall payroll employment declining 0.20%.
The document analyzes Detroit's office market in the first quarter of 2026, reporting a 21.5% vacancy rate with only 6,656 square feet of net absorption and leasing activity of 757,000 square feet across 173 deals, both falling significantly below the 25-year quarterly averages of 1.67 million square feet and 327 transactions. Key economic findings include Detroit MSA unemployment rising to 5.3% in January 2026 from 4.7% the previous month with year-over-year payroll employment declining 0.2%, while office-using employment fell from 539.4 thousand in September 2025 to 520.5 thousand in January, and average asking rent increased to $21.24 per square foot with 2.14% year-over-year growth.
Minneapolis-St. Paul's multitenant office vacancy rose to 24.7% in the fourth quarter, driven by mid-size tenant space reductions, though Boston Scientific's completion of a 400,000-SF Maple Grove campus partially offset losses. Market strength remains concentrated in select nodes like Edina and the West End, where well-capitalized landlords continue to leverage generous concessions to attract tenants amid below-average leasing activity.
This Newmark research report analyzes the Minneapolis-St. Paul industrial market as of fourth quarter 2025, covering economic conditions, employment trends, and leasing fundamentals across the region. Key findings include a 4.2% vacancy rate with 2.7 million square feet of net absorption in 2025, manufacturing employment growth of 1.6% year-over-year, and industrial leasing volume above historical averages driven by data center-related activity including Meta Platforms' 715,000-SF facility in Rosemount and Daedex's 503,000-SF lease in Dayton.
Portland's office market experienced weakening fundamentals in the second quarter of 2025, with unemployment rising to 4.5%, office vacancy reaching a record high of 24.3%, and net absorption declining by 311,820 square feet despite modest job gains in education, health services, and information sectors. Average asking rents dipped slightly to $31.30/SF while leasing activity remained subdued, with tenants increasingly favoring affordable suburban submarkets over the downtown core, and no new office construction projects underway amid challenging market conditions.
Silicon Valley's industrial market in first quarter 2026 experienced total leasing activity of 2.0 million square feet, down 7.6% quarter-over-quarter and 9.9% year-over-year but remaining 12.1% above its five-year average, with industrial vacancy rising to 7.4% due to new deliveries including 174.7K SF in Sunnyvale and negative net absorption of 524.2K SF. The region's economy outperformed national trends, with the San Jose–Sunnyvale–Santa Clara MSA unemployment rate falling to 4.0% in January 2026 and nonfarm payroll employment growing 0.7% year-over-year, while industrial-using sectors led growth with Mining and Construction expanding 6.0% and warehouse leasing accounting for 57.2% of total activity anchored by a 267.1K SF Tesla Motors lease in Fremont.
Silicon Valley's office market recorded more than 481,000 square feet of positive net absorption in the third quarter of 2025, marking the fourth consecutive quarter of growth, while overall vacancy fell 170 basis points to 16.8%. Major transactions from Netflix and Databricks anchored leasing activity despite office-using employment continuing to decline due to ongoing cost optimization in the tech sector.
San Antonio's multifamily market showed a 93.0% occupancy rate and average asking rent of $1,231 as of Q3 2025, with 5,882 units delivered year-to-date and 7,827 units of net absorption. The market is expected to experience sharp supply declines in 2026 to approximately 4,800 units under construction (a 76% reduction from 2Q23 peak), positioning the market for strong rent growth from 2027 to 2029, supported by San Antonio's 1.0% population growth during 2024 and economic drivers including advanced manufacturing, data centers, cybersecurity, and the South Texas Medical Center's $18 billion annual impact.
Sacramento's office market showed signs of stabilization in the second quarter with vacancy declining 20 basis points to 15.8%, down from 17.3% a year earlier. Year-over-year job growth has slowed to 0.8% as of May, with office-using employment near 2020 lows, though healthcare and government sectors remain relatively strong. Direct asking rents held steady at $2.12 per square foot full service per month.
The Seattle office market in first quarter 2026 experienced significant labor market deterioration, with the regional unemployment rate rising to 5.4% in February 2026 from 4.3% a year prior, driven by 3,420 WARN-noticed layoffs led by Amazon's 2,387 cuts, while office investment activity recovered with $245.6 million in sales across 11 properties at a 7.1% cap rate. For the first time in the recovery cycle, both vacancy and availability declined concurrently by approximately 90 basis points quarter-over-quarter, reaching 23.2% and 26.7% respectively, with the region posting 253,352 square feet of positive net absorption in Q1 2026—the first positive quarter since Q1 2022—though this improvement was tempered by continued tech sector job losses threatening near-term office demand.
Greater Philadelphia's office market ended 2025 with vacancy at 21.8% after rising 150 basis points year-over-year, though net absorption improved to only slightly negative as leasing momentum increased. Class A rents grew 4.2% annually driven by trophy asset demand, while sublease availability stabilized and asking rents recorded three consecutive quarters of gains.
Greater Philadelphia's industrial market weakened further in 2025 as new supply outpaced absorption, pushing vacancy to 8.7%, the highest level in two years. Despite softer fundamentals, leasing activity reached 22.0 million square feet for the year, a two-year high, with Class A properties capturing 40.9% of volume despite representing only one-third of inventory. Development slowed significantly to a five-year low of 4.9 million square feet under construction, while asking rents rose 6.2% annually to $11.90 per square foot.
Newmark's Denver Office Market Overview for first quarter 2026 documents negative net absorption of 249,270 square feet and a vacancy rate of 31.1 percent, though this represents improvement from prior-year declines, while leasing activity surged 43.5 percent sequentially to 2.1 million square feet as median asking rents held relatively stable at $32.15 per square foot. Office-using employment sectors contracted year-over-year amid an unemployment rate of 4.2 percent, though the University of Colorado projects economic headwinds will ease in 2026 to improve hiring and employment growth.