CoStar News

The former State Street Financial Center in downtown #Boston sold for $400 million at a foreclosure auction, highlighting steep office price declines as its value plummeted from a $1 billion refinancing just three years ago.

?? ?? Will you find love at this $65 million #California estate? Rancho Dos Pueblos, a storied 219-acre coastal ranch in #SantaBarbara with deep historical roots, diverse landscapes, and a past that includes racehorses, the reality TV show Love Island, and even the Dalai Lama, has hit the market for $65 million, attracting interest from a range of buyers. Explore more of the property here: https://bit.ly/4hVWv8X

The impact of doing good: A nonprofit backed by philanthropist Laurene Powell Jobs has purchased the former San Francisco Art Institute campus, including its prized #DiegoRivera mural, for $30 million, ensuring the historic Russian Hill site remains a community arts institution. The unique deal earned a 2025 #CoStarImpactAward for sale/acquisition of the year in #SanFrancisco. Learn more about the project here: https://bit.ly/3DLAoEb

Which major U.S. #office markets are showing signs of recovery? Why is Dollar Tree Stores selling Family Dollar for only $1 billion? And how much is Johnson & Johnson investing in U.S. manufacturing? Find out the latest?#CRE?news in this edition of our weekly newsletter.

Kidder Mathews has promoted real estate veteran Eric Paulsen to chief operating officer, overseeing operations across its 19 locations in Washington, Oregon, California, Idaho, Nevada and Arizona, as the brokerage continues its growth and expansion. Read more here: https://bit.ly/3FIhwq6

?? Mortgage rates have been steady in recent weeks, with the 30-year fixed-rate averaging 6.65%, encouraging some homebuyers to enter the spring housing market. That's showing up already as pending sales rose 2% in February thanks to lower borrowing costs and more available listings. Learn more here: https://bit.ly/4iJSLZb

The impact of something new: Netflix House is expected to draw visitors and shoppers back to Galleria #Dallas by transforming a former Belk department store into an immersive entertainment destination with themed dining, live events, and exclusive merchandise. David Pratt and Daniel Goldware of Trademark Property Company, Katie Rambie of SHOP Companies, and Joel Stephen of CBRE played key roles in securing the deal, which earned a 2025 #CoStarImpactAward for lease of the year. ??

Dollar Tree Stores is offloading Family Dollar at a bargain basement price, roughly $1 billion, after spending about a decade of unsuccessfully trying to turn around the chain and finally searching for a buyer. The discount giant has agreed to sell Family Dollar to Brigade Capital Management, LP and Macellum Capital Management, activist private equity firms that previously attempted to take department store retailer Macy’s private. The deal is expected to close in the second quarter, possibly by June. Read the full story below.

The UK #realestate market appears to be on the upswing, with average yields tightening and office leasing showing strong momentum at the end of 2024, though performance varies across sectors and regions — a topic CoStar’s Patrick Scanlon explores in-depth during his interview with GRI Club CEO Gustavo Favaron. Gain more insights here: https://bit.ly/4c4aMix

? ?? Could a former house of worship become your dream home? As shrinking congregations put more churches on the market, buyers are increasingly drawn to these unique homes, featuring Gothic windows, thick stone walls, and spiral staircases leading to former bell towers. When churches are no longer used for worship, they are most often converted into residences, a “tried and true” approach that typically yields strong returns, according to Ward Miller of Preservation Chicago. Learn more about why these unique properties are drawing heightened interest: https://bit.ly/42ejffz