For two years, headlines have screamed about a bloodbath in the office sector. Research from Moody’s Analytics shows those headlines have little in common with reality.

The rapid delivery company plans to close 76 warehouses across the U.S., representing roughly 12 percent of its network, as it consolidates in some cities.

Sephora’s exit comes as European and US sanctions on the country have made operations in Russia increasingly complex. It joins Nike Inc. which also said last month that it was leaving Russia.

The Street asks if the U.S. is facing a housing crash similar to the one in 2008. California cities ban new gas stations, reports Los Angeles Times. These are among today’s must reads from around the commercial real estate industry.