The Cornerhold Journal

California's Proposition 45, on Tuesday's ballot, would label roads, bridges, certain housing, schools and broadband as essential infrastructure and set time limits on their environmental reviews and related lawsuits, Commercial Observer reported. The California Chamber of Commerce placed it on the ballot with backing from homebuilders.

A Chamber-funded study claims it would advance nearly 20,000 homes a year and save $1.5 billion. Supporters point to delays such as the $3.3 billion LAX People Mover, now pushed to early 2027.

If it passes, faster timelines could cut entitlement risk and carrying costs for Los Angeles area projects, though fights over how it is carried out are likely.

CBRE figures reported by The Registry show a gap of roughly 50 points between the emptiest and fullest office submarkets in Los Angeles: 57.9% vacancy in East Downtown against 8.2% in the San Gabriel Valley.

Even so, the emptier East Downtown market asks nearly twice the rent of the Valley, a sign that suburban, owner-occupied markets are holding up while the urban core struggles.

Amendment 3, on Tuesday's Florida ballot, would cut the annual cap on assessment increases for non-homestead property from 10% to 5%.

Commercial Observer noted that local government budgets rose about 75% to $59.2 billion between 2019 and 2025. An adviser at the accounting firm Kaufman Rossin warned that counties needing revenue could make up the difference through higher millage rates that fall on commercial property.

Broward County records show aviation lessor Willis Lease Finance paid $117.9 million for the Cocomar Business Park campus at 4733 to 4763 Atlantic Blvd. in Coconut Creek, The American Developer reported.

The price is nearly four times what Greystar paid for the property in 2025. Willis plans to use it as a headquarters campus.

On Tuesday's ballot, Question 3 would let city-owned, non-landmark lots under 10,000 square feet, along with transfers of landmark development rights, go through an expedited review of about 90 days instead of roughly seven months, City Limits reported.

Question 4 would create a central permitting office within the Department of Buildings to coordinate about 40 permits issued by 18 agencies.

If both pass, entitlement and permitting time for small sites and air rights deals would shrink across the five boroughs.

Law firm Vedder Price signed for about 49,000 square feet covering the entire 34th floor of Rockefeller Group's 2.6 million square foot 1221 Avenue of the Americas, the New York Post reported. It will move from 1633 Broadway in 2027.

Savills and Cushman and Wakefield brokered the deal, which leaves another Sixth Avenue trophy tower close to full.

Cousins Properties signed about 180,000 square feet of Austin leases in the third quarter, roughly 77% to tech tenants, including a 76,000 square foot renewal at Domain 7, according to its results and earnings call.

The REIT also committed $31.5 million of preferred equity to Endeavor's 198,000 square foot 5th and Walsh office project downtown, and raised its 2026 FFO guidance to $2.95 to $2.99 a share.

SpaceX has begun work on additional factories in Bastrop County east of Austin, the Austin Business Journal reported. One has a planned footprint of about 2.14 million square feet.

The expansion is tied to the company's plans for solar manufacturing and orbital data centers, and it ranks among the largest industrial build-outs in the metro.