Bianca Barragán

Majestic Asset Management bought a Rivian-leased El Segundo flex industrial building from Hackman Capital Partners for approximately $27M, The Real Deal reported. The sale price of the 57K SF building at 401 Coral Circle translates to $480 per SF, a considerable markup from the roughly $15.3M Hackman paid when it bought the property in 2018. Rivian is subleasing the full building from Boeing, and the lease expires in 2034.

The University of Antelope Valley sold a hotel-turned-university building for $14.4M. The 88K SF former university campus sits on approximately 6.4 acres in Lancaster. The university closed in 2024. The buyer, 44049 Sierra Hwy Propco LLC, acquired the vacant campus with plans to reposition the property as a regional hub providing community support services, workforce development programming and administrative help for residents, in partnership with Los Angeles County.

Cold storage is undergoing a market shift, posting negative net absorption in the first half of 2026 and reaching a new record high for vacancy. Nationwide, cold storage facilities recorded net negative absorption of 56 million cubic feet, according to a new report from Newmark. It is the first time absorption has fallen into negative territory for the property type since 2007.