J.P. Morgan Global Real Estate Daily News and Research Summary

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J.P. Morgan Global Real Estate Daily News and Research Summary

J P M O R G A N North America Equity Research

29 June 2026

J.P. Morgan Global Real Estate

Daily News and Research Summary

Americas REITs & Real Estate Services

Anthony Paolone, CFA AC

• Manhattan’s office sublease inventory dropped below 11 million sf in 2Q26, (1-212) 622-6682

less than half its late-2022 peak, driven by rapid absorption from tech and AI anthony.paolone@jpmorgan.com

firms, according to JLL and reported by the New York Post. AI companies J.P. Morgan Securities LLC

signed 21 deals totaling 719,200 sf so far in 2026. Link to the article. Michael W. Mueller, CFA AC

• Max Meyers, Jason Trailov, and Glendon Capital Management are in talks to (1-212)michael.w.mueller@jpmorgan.com622-6689

acquire the 1.3 million sf office tower at 350 North Orleans Street in Chicago J.P. Morgan Securities LLC

for about $90 million, a 76% discount from Blackstone’s 2015 purchase price

Adrian E Huerta

of $378 million, as reported by The Real Deal. The building, now under (52-81) 8152-8720

foreclosure, is about 60% occupied. Blackstone, the previous owner of the adrian.huerta@jpmorgan.com

building, walked away and defaulted on its $310 million loan on the property. J.P. Morgan Casa de Bolsa, S.A. de C.V., J.P.

Morgan Grupo Financiero

Link to the article (subscription required).

Richard Jones, CFA

• Abbhi Capital has listed a 2-acre development site at Miami Worldcenter up for (61-3) 9633-4038

sale and is expected to fetch over $100 million, Bisnow reported. The site was richard.b.jones@jpmorgan.com

assembled for $44 million in 2020 and has approved plans for a 558-unit J.P. Morgan Securities Australia Limited

residential tower and a 368,000 sf office tower. Link to the article. Neil Green, CFA

(44-20) 7134-4478