It’s halftime in 2025, and The CRE Weekly Digest team is back with a data-driven gut check on a market that’s proving more resilient than expected. Despite tariff shocks, geopolitical tension, and consumer gloom, CRE hasn’t blinked. In fact, capital is flowing, transaction volume is up, and nine-digit retail deals are making a surprise comeback.

Manus sees signs of a second half surge, powered by engaged lenders, an expanding buyer pool, and the long-awaited return of Big Tech to the office market. Dianne flags soft spots, namely inflation pressure, GDP drag, and the retail sector’s tariff exposure, but concedes this market doesn’t rattle easily.

The team also breaks down the latest CRE Activity Index, big bets from Apple, and whether fireworks should be tariff-exempt in the Big Beautiful Bill. The collective forecast: proceed, but don’t skip due diligence.

And in true Digest fashion, they close with song picks that capture the CRE mood: Van Halen, Mumford & Sons, and a dose of Kelly Clarkson.

We want your take. LightBox just launched the Midyear 2025 CRE Market Survey to hear from experts like you across valuation, due diligence, lending, investment, and brokerage. We’re exploring your reflections on the first half of 2025 and your outlook for the months ahead. Click here to take the survey >

The survey closes Friday, July 18th, and we’ll be sharing the results shortly thereafter.

01:09 Market Resilience and Key Takeaways

05:35 Lightbox CRE Activity Index Analysis

10:15 Transaction Trends and Big Deals

13:21 Interest Rates and Fed Meetings

19:57 Selective Hiring Trends and Labor Market Insights

22:04 Optimism and Reservations for the Second Half

31:20 Sector Rapid-Fire Forecasts: Office, Multifamily, Industrial, and Retail

Have questions for the pod team? Send them to Podcast@LightBoxRE.com.

www.lightboxre.com

It’s a milestone week at The CRE Weekly Digest—our one-year anniversary and 52nd episode. From launch day to today, we’ve unpacked the headlines, challenged assumptions, and surfaced the trends that matter most for CRE professionals navigating uncertainty. This episode is no different.

Markets are running hot, with stocks brushing all-time highs despite risks from Middle East volatility to tariff headwinds and the Powell–Trump standoff. Is it optimism or selective amnesia? Manus calls it like he sees it, with Dianne and Martha weighing in on rate cut speculation, earnings compression, and investor fatigue.

In CRE, conviction is showing up in the form of major bets: a $211M construction loan in Miami’s Edgewater, a Manhattan office-to-resi conversion, and a surge in data center demand, even as zoning friction and energy strain rise. Cincinnati tops rent growth rankings, and Walmart experiments with dark stores and drone delivery.

We also give an advance look at the latest LightBox CRE Activity Index and spotlight the metros showing real momentum in environmental due diligence.

And finally, a big thank you to our listeners—from NYC to Singapore—for showing up, weighing in, and pushing the conversation forward every week. Here’s to the next 52 episodes.

00:52 Geopolitical Tensions and Market Reactions

07:03 Interest Rates and Economic Outlook

12:29 New York City Mayoral Election and Potential Fallout

19:14 The Rise of Data Centers in the AI Era

24:57 Gyms are Back and Part of the Amenity Draw

27:39 Bold Moves in Multifamily and Office-Resi

35:11 Innovations in Retail: Dark Stores and Drone Delivery

37:00 Celebrating One Year of Insights with the Pod Team

Have questions for the pod team? Send them to Podcast@LightBoxRE.com.

www.lightboxre.com

What does it take to make a property—and a team—resilient in today’s volatile CRE landscape? Holly Neber, Chief Resilience Officer at AEI Consultants, joins the LightBox team to unpack the rising urgency around climate risk, insurance hurdles, and resilience planning. A 30-year environmental veteran and chair of the ASTM task group behind the industry’s first Property Resilience Assessment (PRA) guide, Holly breaks down how stakeholders are turning climate risk into actionable insight—before it derails deals or distorts value.

From PRAs and insurance blow-ups to investor ‘walk-aways’ and model fatigue, Holly gives a masterclass in what CRE pros need to know now. She explains why resilience isn’t just physical—it’s cultural—and why the next wave of opportunity will belong to those who can identify risk and adapt.

Don’t miss her insight on lender vs. investor expectations, how climate risk is already showing up in property pricing, and the mindset shift she sees among the next generation of consultants. This one’s packed with clarity, candor, and a forward-looking vision CRE needs right now.

01:15 Understanding Property Resilience

04:54 Climate Risk and Insurance Challenges

05:32 The ASTM Property Resilience Assessment Guide

09:37 Investor and Lender Perspectives on Climate Risk

14:37 Holly Neber's Journey and Leadership

16:13 Impact of Climate Risk on Property Valuation

26:50 Managing and Inspiring Teams

29:58 The Evolution of Environmental Site Assessments

Have questions for the pod team? Send them to Podcast@LightBoxRE.com.

www.lightboxre.com