Free each weekdayCommercial property news, cut to what an owner needs to know.
The Cornerhold Journal
Vol. I · No. 2Nationwide edition · Free
MarketsLatest, Oct 26
10-year Treasury5.00%unchanged 0.00
SOFR3.93%up 0.01
30-year mortgage rate7.32%down 0.08
CMBS delinquency8.02%up 0.17
U.S. office vacancy18.2%down 0.1
Sources: U.S. Treasury, daily par yield curve rates, Oct 26 (10-year Treasury); Federal Reserve Bank of New York, SOFR, Oct 26 (SOFR); Freddie Mac, Primary Mortgage Market Survey, Oct 22 (30-year mortgage rate); Trepp, Sep 30 (CMBS delinquency); CBRE, Q3 2026 U.S. Office Market Report, Sep 30 (U.S. office vacancy)
Life science
Alexandria writes down $637.9 million of lab property and posts a third quarter loss
The biggest lab landlord's impairments show life science values are still finding a floor.
Alexandria Real Estate Equities, the largest owner of life science buildings, reported a third quarter net loss of $3.74 per diluted share, according to the company. Most of the loss came from $637.9 million of real estate impairments, largely on properties it holds for sale.
Adjusted funds from operations fell to $1.54 per share from $2.22 a year earlier. Operating occupancy stood at 87.1 percent, or 90.8 percent counting signed leases that have not yet started, and the company leased more than 1.2 million square feet in the quarter.
Write-downs of this size from the sector's biggest landlord suggest lab values are still resetting, which matters for lab and suburban office owners and for the lenders behind them.
Source: Alexandria Real Estate Equities (press release), Oct 26, 2026
Capital markets
Deals already under contract are being repriced, CBRE says
The largest brokerage expects activity to stay roughly flat into mid 2027.
CBRE's third quarter commentary, analyzed by GlobeSt, says a September slowdown, higher cap rates and uncertainty about rates are pushing buyers to reprice or renegotiate deals already under contract.
Some of those deals have been delayed, canceled or turned into refinancings instead, according to the report. CBRE expects activity to stay roughly flat through the fourth quarter and the first half of 2027.
For ownersSellers with a signed contract may want to plan for a possible price request and a longer path to closing.
Sources: GlobeSt, Oct 26, 2026; The Motley Fool, CBRE call transcript, Oct 22, 2026
Industrial
LXP shareholders approve a $61.20 a share cash sale to Brookfield and CPP Investments
Another listed warehouse owner goes private even with the 10-year Treasury near 5 percent.
More than 99 percent of votes cast, representing about 82 percent of outstanding shares, approved the sale of warehouse REIT LXP Industrial Trust to Brookfield Asset Management and the Canada Pension Plan Investment Board, the company said.
Shareholders will receive $61.20 in cash per share. The deal, first announced in July, is expected to close on Nov. 2 and will take the Sunbelt and Midwest focused owner private.
For ownersWarehouse owners in LXP's markets can watch the new owners' leasing approach as a read on local rents.
Retail
Brixmor reaches a record 95.6 percent leased and raises its dividend
Record small shop occupancy points to continued pricing power for open air centers.
Shopping center REIT Brixmor reported record leased occupancy of 95.6 percent for the third quarter, up 120 basis points from a year earlier, the company said. Anchor space was 97.0 percent leased and small shops reached a record 92.8 percent.
It signed 1.6 million square feet of new and renewal leases at comparable rent spreads of 25.3 percent, raised its quarterly dividend 7.3 percent to $0.33 and raised its outlook.
For ownersOpen air retail owners heading into 2027 renewals may find these spreads a useful benchmark for their own rent talks.
Source: Brixmor Property Group (press release), Oct 26, 2026