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| MULTIFAMILY |
| Northeast slows: Northeast apartment rents grew 2.1% through June, but weaker job growth and a slower supply pullback are limiting momentum, especially for Class B properties. |
| RETAIL |
| Burger shift: Burger King overtook Wendy’s as the No. 2 U.S. burger chain, highlighting shifting tenant strength as Wendy’s struggles with declining sales, traffic and franchisee economics. Retail leads: Retail visits rose 1.7% year over year in July while dining fell 1.6%, though improving restaurant traffic and strength in fast-casual and full-service concepts suggest the gap is narrowing. Mall momentum: Shopping center traffic rose across indoor, open-air and outlet formats in July, while longer dwell times signaled stronger shopper engagement heading into back-to-school and holiday seasons. |
| HOSPITALITY |
| Hotel growth: U.S. hotels are on track for 4.4% RevPAR growth in 2026 as stronger rates, corporate travel and leisure demand outweigh inflation pressures, with the World Cup providing an added boost. Business rebound: Hotel demand is gaining momentum as business travel returns, lifting RevPAR across major chains while data center investment adds another source of extended-stay demand. |
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