The Weekly Take from CBRE

How did the largest office-to-residential conversion come about? Brian Steinwurtzel of GFP Real Estate offers an inside look at how lower Manhattan’s 25 Water Street, a struggling office tower that was transformed into more than 1,300 apartments. He discusses what this landmark project signals for urban resilience.

· The right acquisition price and bold design and amenity choices can turn challenged office assets into world‑class residential properties.
· Tax incentives can often be the deciding factor in whether a conversion is viable.
· Fast execution is essential for controlling risks and costs in today’s market.
· Office-to-residential conversions are highly bespoke, where building bones matter more than any rule-of-thumb formula.
· Great residential conversions are redefining downtowns, but their future hinges on policy, pricing and how the next market cycle unfolds.

Two of the parking industry’s most influential leaders— LAZ Parking’s Alan Lazowski and Parkway Corporation’s Rob Zuritzky—explore parking’s role as critical infrastructure, a cash-flow-generating asset and a platform for EVs, autonomous vehicles and urban mobility innovation.

* Parking is vital urban infrastructure, supporting economic growth.
* Technology, like EV charging, revolutionizes parking operations.
* Parking assets can deliver stable cash flow and attractive investment returns.
* Parking structures of the future will become essential urban mobility hubs.

On this episode, we feature a wide-ranging discussion with Henry Chin, CBRE’s Global Head of Research—recorded at CBRE’s annual Capital Markets Symposium—where we explore global capital flows, the forces shaping investment strategies and why 2026 may be a compelling vintage for real estate investment.

* 2026 offers prime investment opportunities in U.S. real estate.
* Income growth, not cap rates, will drive future real estate returns.
* Value-add industrial assets with access to power are positioned for strong returns.
* Amenity-rich, well-located office space should continue to outperform.
* Rekindled global capital inflows could boost U.S. real estate transaction volume.

Link Logistics’ Luke Petherbridge and CBRE’s John Morris dissect the powerful forces shaping industrial & logistics real estate. They explore continued e-commerce acceleration, the transformative impact of AI, driverless trucks, evolving supply chains, changing warehouse standards and much more.

* Industrial real estate had its second-best leasing year ever in 2025.
* New demand is being spurred by e-commerce and reindustrialization.
* Prime industrial sites are being developed for data center use, contributing to a scarcity of modern warehouse facilities.
* AI and automation transform operational efficiency and future warehouse design.
* Driverless trucks will eventually alter supply chain networks and spatial economics.

Portugal has become an unexpected real estate powerhouse in Europe. Arrow Global’s John Calvao and CBRE's Francisco Horta e Costa discuss the revival of Portugal’s economy, surging investment in hospitality, logistics, data centers and student housing, the resilient Lisbon and Porto office markets and ways to address a chronic housing shortage.

* Portugal's economic turnaround has fueled robust real estate opportunities.
* Hospitality and logistics lead growth, attracting global capital.
* Emerging sectors like data centers and student housing are seeing outsized growth.
* Multifamily housing faces persistent supply challenges.
* The Lisbon and Porto office markets are exhibiting strong performance.