Tech Layoffs Mean Even More Empty Offices to Rent for NYC, San Francisco
Both cities ended 2022 with a rising supply of space and leasing demand still far below historical averages, according to reports this week from brokerage CBRE Group Inc. In San Francisco, the...
View ArticleMusk’s Twitter Sells Off Coffee Makers, Neon Logo in Auction Blitz
The 631 lots of “surplus corporate office assets” range from the mundane — industrial-scale kitchenware and typical office furniture like whiteboards and desks — to less typical fare for office...
View ArticleAres Strikes Deal for Office, Naming Rights at Los Angeles Tower
Ares signed a 12-year lease at 1800 Avenue of the Stars in the Century City district, a deal that includes naming rights to the building, according to a statement Wednesday. The investment manager,...
View ArticleRemote Work Saves Global Commuters 72 Minutes a Day, Study Finds
Remote staff are saving the most time in China, where forgoing the trek to and from one’s workplace is freeing up 102 minutes a day, according to the study published this month by the National Bureau...
View ArticleSentiment on Office Fundamentals Turns Sour
Exclusive WMRE research shows that owners of office buildings do not see positive prospects for occupancy or rental growth.
View ArticleU.S. Offices Reach 50% Occupancy for First Time Since Pandemic Hit
An index of building occupancies in 10 major metro areas increased 0.9 percentage points to 50.4 percent in the week ended Jan. 25, according to security firm Kastle Systems. All of the cities tracked...
View Article13 Top Markets for Life Sciences Space Demand
As investment in life sciences real estate slows a bit, CBRE provides a deep dive into which cities are seeing the most interest from tenants right now, and how those statistics compare to the current...
View ArticleEmpty Office Towers Show Remote-Work Pain Rippling Through Montreal
As much of the world barrels back to post-Covid normalcy, Canada’s second-largest city is struggling to recover. Its office vacancy rate has soared to 16%, according to CBRE Group Inc., with only...
View ArticleHudson Bay Is Anchor Investor in Bed Bath & Beyond Share Sale
Hudson Bay, a New York-based multi-strategy hedge fund, comprised the largest order among several institutional investors that helped Bed Bath & Beyond enter into the transaction Tuesday, said the...
View ArticleNew York Targets Landlords of City’s Unlicensed Weed Stores
Manhattan District Attorney Alvin Bragg said Tuesday that he was putting the property owners of 400 unlicensed smoke shops on notice: Evict any tenants that are selling illegal cannabis — or the state...
View ArticleNew Yorkers Pay the Highest ‘Singles Tax’ in the U.S.
New York renters living alone in one-bedroom apartments are forking over $19,500 more a year than couples who live together, Zillow data show. In Manhattan, the annual singles tax rises to a whopping...
View ArticleEuropean Office Demand Rebounds from Covid to Drive Up Rent
A total of 12.6 million square meters of office space was leased on the continent in 2022, a 15 percent jump from the previous year when many staff worked remotely because of the pandemic, data...
View ArticleDiscount Retailer Tuesday Morning Files for Bankruptcy Again
The Dallas-based discount retailer filed in the Northern District of Texas, listing assets and liabilities of $100 million to $500 million, in its bankruptcy petition. It emerged from its last...
View ArticleWhy Workers Aren’t Returning to North America’s Second Biggest Financial Center
Toronto is North America’s fourth-largest city and second-largest financial center, and on many days its downtown is bustling again. However, a range of data suggest a more downbeat trend: Toronto’s...
View ArticleYelp’s Remote Work Policy Spurs Employee Exodus from NYC to Florida
Yelp analyzed three years of internal data on its own workforce, which is fully remote. It found the share of workers living near its office locations plunged between 2019 and 2022, with its...
View ArticleWatercoolers Become RTO Measure as Remote-Work Debate Rages
The amount of water dispensed in machines sold by Bevi — a Boston-based startup that provides Internet-connected coolers to more than 5,000 businesses across the US — mirrors the office occupancy rates...
View ArticleTwo Out of Three Banks Offer Workers Some Flexibility Despite RTO Push
More than two out of three banks are offering workers either full flexibility or some sort of hybrid-work arrangement, according to a survey of more than 300 financial services institutions by Scoop,...
View ArticleAdobe Opens New Office Tower and Pledges No Companywide Layoffs in 2023
The Founders Tower is an 18-story, 1.25 million-square-foot shimmering glass addition to San Jose, California, a city Adobe has called home since the early ’90s. The software company’s fourth tower has...
View ArticleTenacious U.S. Inflation Reaches Past Housing and Proves Hard to Tame
Underlying consumer-price growth accelerated in February, with Americans continuing to experience the sting of rising rents and sticky prices for services. Over the past year, a key housing category —...
View ArticleGrowth in Electric Vehicle Production Expands Opportunities for Industrial...
With EV manufacturers and their suppliers increasingly opening factories in the U.S., opportunities are growing for both build-to-suit construction and speculative development.
View ArticleCredit Suisse Rescue Deal Adds to Qatar’s Canary Wharf Headaches
QIA directly owns 1 Cabot Square where Credit Suisse has a lease until 2034, as well as owning half of Canary Wharf Group, the landlord that owns and manages much of the rest of the east London...
View ArticleRent Inflation for U.S. Single-Family Homes Drops Near Two-Year Low
Nationwide, the typical rent for a single-family home rose 5.7% from a year earlier, data from the real estate analytics provider show. All 20 major metro areas tracked by CoreLogic posted single-digit...
View ArticleWalmart Cuts Staffing Levels at Some U.S. E-Commerce Warehouses
The Bentonville, Arkansas-based company is paring jobs as it bolsters warehouse automation to reduce the cost of handling online purchases. The retailer has so far avoided the kind of mass layoffs...
View ArticleWhat Investors Should Know About Office Buildings with Subleases
What the surplus of subleased space available in today’s office market means for investors and how they can best operate in the changing landscape.
View ArticleElon Musk Can’t Avoid Paying Twitter’s Rent Forever
Maybe Musk is withholding payment as a move in what is known among scholars as the “holdup game”—an opportunistic effort to force better terms from a counterparty who’s poorly positioned to resist your...
View ArticleRent Control Won’t Make Housing More Affordable
At IREM, we recognize the importance of housing choice and access to quality housing that is affordable. We’ve seen how rent control undermines both of these things, making it financially challenging...
View ArticlePeople Working in the Office Spend 25% More Time on Career Development
Those who came into work devoted about 40 more minutes a week to mentoring others, nearly 25 more in formal training and about 15 additional minutes each week doing professional development and...
View ArticleJPMorgan Calls Managing Directors to Office Five Days a Week
Wall Street firms, like companies throughout corporate America, are rethinking their work-from-home rules as the Covid-19 pandemic recedes. At New York-based JPMorgan, employees at retail bank branches...
View ArticleWhat’s Behind the Rising Demand for Skilled Property Managers Globally?
Key factors driving the global growth in demand for professional property managers are increasing urbanization, real estate market expansion and technological advancements.
View ArticleHow Retail Healthcare Is Creating New Real Estate Opportunities
Healthcare providers’ preference for retail spaces has put them in competition with bricks-and-mortar retailers, triggering a race for premium retail spaces.
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