36+Research pieces indexed
Latest Aug 1, 2026
Global Real Estate Intelligence is a neutral index of publicly available research. All rights in Newmark’s work remain with Newmark; we link to the original.
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.
Transaction activity slowed in 1H26 amid cautious financing, but investor demand for institutional-grade logistics assets remains resilient.
Analysis of major technology companies' strategic approach to U.S. office real estate, focusing on consolidation, modernization, and geographic expansion.
Analysis of solar energy adoption and its impact on industrial real estate markets in the Midwest region.
Newmark reports capital markets entered 2026 with renewed momentum as transaction activity, debt liquidity and asset returns aligned, with 2025 investment sales up 20% year over year and activity concentrated in deals under $100 million.
Multifamily posted strong absorption and slowing deliveries in 1Q26, while debt market liquidity remained robust with originations up 46% year over year.
Newmark analyzes how market durability has become a critical framework for evaluating U.S. industrial real estate in an environment of sustained economic volatility.
A thematic study quantifying how AI-driven workforce change is expected to reshape U.S. office space demand through 2030.
Manhattan's office market in the first quarter of 2026 showed significant improvement, with available space declining for eight consecutive quarters to 14.6% from 19.5%, leasing activity reaching 12.9 MSF—the highest since Q4 2019—and overall asking rents growing to $78.25 per square foot, though remaining 4.2% below pre-pandemic levels. Tech and media sector requirements hit a decade-high of 8.8 MSF with artificial intelligence firms representing 22.1% of that demand, while office-using employment remained below December 2024 peaks as unemployment rose to 5.5% amid economic uncertainty.
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.
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.
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.
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.
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.
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.
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.
The San Francisco Bay Area life science market recorded negative net absorption of 453,685 square feet in Q1 2026, with overall vacancy rising to 29.0% and total availability at 32.3%, while major transactions included Gladstone Institutes' 108,082-square-foot lease and the $600 million sale of Gateway Commons campus. Life science employment declined 7.6% from its 2023 peak to 107,610 workers in Q3 2025, venture capital funding fell to $1.7 billion across 79 deals in Q1 (down from $2.7 billion and 92 deals in Q4), and average asking rents decreased to $5.57 per square foot as the market contended with elevated vacancy and soft leasing conditions.
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.
Greater Boston's office market posted negative net absorption of nearly 140,000 square feet in the first quarter of 2026, pushing the vacancy rate to a historic high of 23.2 percent. Class A assets posted positive absorption for the second consecutive quarter, while Class B properties logged their eleventh consecutive quarter of negative absorption. Development has slowed sharply, with new office construction falling to a 15-year low, and only one project remaining underway in the region.
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.
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.
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.
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.
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.
Greater Boston's industrial market experienced its third consecutive quarter of negative net absorption, though leasing activity surged 68.9% year-over-year in the first quarter of 2026. Vacancy rose to 10.8% as new construction remained active, but the construction pipeline has fallen to a four-year low, suggesting near-term supply moderation. Asking rents returned to positive annual growth of 1.7%, driven by advanced manufacturing buildings and a flight-to-quality trend among tenants seeking modern industrial space.
San Francisco's office market achieved historic first-quarter 2026 results, with leasing activity of 4.2 million square feet (second-strongest quarter on record) and net absorption of 1.5 million square feet (highest ever recorded), while vacancy dropped 390 basis points year-over-year to 27.9%. Artificial intelligence and technology companies drove demand, representing just over half of current tenant demand at 9.7 million square feet, with major leases signed by Anthropic (484,000 square feet), OpenAI (282,000 square feet sublease), and other tech firms, while average direct asking rents rose modestly to $67.77 per square foot.
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.
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 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.
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%.
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.
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.
Fourth quarter 2025 review of U.S. retail market conditions, covering leasing demand, vacancy and rent trends across retail formats.
Newmark's valuation and advisory survey gathers practitioner views on pricing, cap rates and transaction conditions across North American property types for 2026.
This is a market outlook report published by Newmark in January 2026 covering the U.S. data center sector.
Property types that turn up most often in Newmark’s published research.
Geographies that turn up most often in Newmark’s published research.