CRE / ETS News – Stories We Are Following…

Below are top CRE news stories of the week! Enjoy!

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WEEK: August 14, 2017

Biz Journals

Bellevue Reaches for New Heights With Skyline-Altering Zoning Change

Bellevue’s set to allow much taller buildings as downtown’s population and jobs surge.

Apple Staffers Reportedly Rebelling Against Open Office Plan at New $5 Billion HQ

Some Apple employees reportedly hate the open office plan at the company’s brand new $5 billion headquarters. The company has spent more than six years planning and building Apple Park to precise specifications

Alexandria CEO: Boston Area ‘Will Not Be as Dominant’ in Future Growth Plans

On an earnings conference call last week, the CEO of the life sciences developer, Joel Marcus, said the company is plotting a five-year growth plan – and that plan shows Greater Boston “will not be as dominant in our asset base as it is today.”

Orlando Skyline Report: Downtown is Heating Up

Downtown has no large blocks of office space available, with the total vacancy at 9.2 percent, leaving large tenants to look to other submarkets.

The Future of Elevators Going Horizontally and Diagonally is Closer Than Ever

In the 160 or so years since the first skyscrapers were built, technological innovations of many kinds have allowed us to build them to reach astonishing heights.

Buckhead Class A Office Market is Pricey

Centralized location, abundant amenities, and the availability of mass transit are drawing tenants to class A office buildings in Buckhead these days — and driving up rents in the process.

Bloomberg

NYC Council Approves Midtown Rezoning, Paving Way for New Towers

The New York City Council voted to rezone about 78 blocks of east midtown Manhattan, enabling an aging building stock to be replaced by newer, larger and taller office towers.

If Retail is Dying, Why is Money Pouring Into Malls?

The internet will win someday, but for now your in-real-life shopping experience is getting an upgrade.

CoStar National News

Strong Midyear Results Reported by Top CRE Firms Suggest Cycle Still Has Legs

The top publicly traded commercial real estate services companies reported solid second-quarter performances in recent days.

GlobeSt.com

Paramount Group Books Major Lease Deal with Travel Agency

Travel Leaders Group’s Elite Division companies—Tzell Travel Group and Protravel International—will occupy the 35th and 36th floors, respectively at 1633 Broadway.

How DC’s Newest Publicly Traded REIT Did on Its First Big Trading Day

For the third straight quarter, the office market has remained flat and major cities reported negative net absorption.

How Millennials are Changing Office Design

Employers need to start adapting their workplace design to this age group’s preferences or risk being left behind in the race to attract and retain talent.

Meridian, Rockefeller Group Form JV to Develop Boro Tower

This will be Rockefeller Group’s first development in the greater DC market.

Columbia Office Portfolio Trades at High 7, Low 8 Cap Rate

Goldman Sachs sold the four office buildings to CSG Partners.

Office Holds Firm as Rents Peak

Rents remained basically flat during Q2 in six of the 10 biggest US office markets, including Manhattan, says Colliers International.

Unizo to Buy 111 19th street

The 263,393-square foot building is trading for $203 million.

Should You Start Preparing for Driverless Cars?

There’s been a lot of talk about autonomous vehicles and their impact on CRE, but what should the industry do now to get ready for this disruptor?

Don’t Count Out L.A. Office

A few L.A. submarkets might have hiccupped in the second quarter, but overall, it was the city’s best quarter since 2013.

 

NYT

Hurricane Season, Already Busy, May Get Even Busier

Forecasters see the possibility of as many as five major storms over the coming three months.

Hackers Demand Millions in Bitcoin for Stolen HBO Files

Using the name “Mr. Smith,” the hackers released a fresh cache of data online, including “Game of Thrones” scripts and internal documents, and promised to upload more.

 

The Verge

High Rise Forests in Italy are Fighting Air Pollution

Air pollution is the single biggest environmental health risk the world faces today, with outdoor pollution linked to 3 million deaths every year.  It’s no wonder designers and engineers are racing to come up with all kinds of air-purifying solutions from smog-sucking towers and bikes to moss-covered walls.

 

WSJ

Blackstone, Starwood to Merge Rental – Home Businesses in Bet to Be America’s Biggest Home Landlord

Two of the country’s largest rental-home owners, Blackstone’s Invitation Homes and Starwood Waypoint Homes have agreed to merge in a deal that would create a giant landlord with roughly 82,000 homes in 17 metro areas.

Healthier Workers are More Productive, Study Finds

Workers who joined employer-sponsored health programs increased their productivity by an average 4% in the next year, a small study of Midwestern laundry plants found.

WEEK: August 7, 2017

Biz Journals

Post-It War Breaks Out Between Downtown Denver Buildings

At a time of texting, emailing, Facebooking, “liking,” tweeting … Some strangers in downtown Denver have chosen to get to know each other in a simple way.

Vornado to Seek Buyers for Its Stake in a Major Rosslyn Redevelopment

The New York-based real estate investment trust withheld its interest in the 2.5 million-square-foot project from the spin-merge of its D.C. business into JBG Smith Properties.

How Big a Golden Parachute First Potomac’s Execs Will Get After Acquisition

The top three executives at First Potomac Realty Trust are in line to receive more than $20.4 million in cash and equity grants as part of the Bethesda-based real estate investment trust’s planned sale to Government Properties Income Trust.

First Potomac Cutting Staff in Columbia, Bethesda Ahead of Acquisition

First Potomac Realty Trust plans to lay off more than half its workforce ahead of the Bethesda real estate investment trust’s acquisition by Government Properties Income Trust, according to a notice it submitted to Maryland’s labor department.

Cousins Properties Confirms Major Amazon in Atlanta

Cousins Properties Inc. confirmed on a recent earnings call, Amazon’s plans to double its office footprint in Buckhead.

Jamestown Seeks Rezoning for Ponce City Expansion

The Atlanta developer on August 1 submitted two rezoning requests in the city of Atlanta for the major expansion.

Austin’s Skyline to Reach New Heights: High-Rise Planned to Reach More Than 60 Stories

Renderings emerged Friday of a skyscraper proposed for 600 Guadalupe St. in downtown Austin. Planned to soar more than 60 stories high — perhaps up to 75 — it would be by far the tallest building in the city.

City’s CRE Biz Buzzing Over Giant Office Prospect

Atlanta’s commercial real estate business is buzzing over the prospect of a 500,000 to 600,000 square-foot office project — and the mystery company behind it.

Yelp to Establish an East Coast Hub in Downtown DC

San Francisco-based online reviewer Yelp Inc. plans to establish a major employment hub near Verizon Center on D.C.’s East End after a months-long search that took it from the District to Northern Virginia to Atlanta.

Sagamore Development Sells Prime Georgetown Building in Record Deal

Sagamore Development, the private real estate arm of Under Armour Inc. CEO Kevin Plank, has sold a prime building in Washington, D.C.‘s Georgetown neighborhood to Capital One NA for a whopping $50.2 million.

Bloomberg

Why Your Office is Always the Wrong Temperature

Companies tend to cool their spaces dramatically in the hotter months. That leaves some people shivering, and creates a dilemma for managers.

CoStar National News

Office Starts Surge on Strength, Stability of US Office Market at Mid-Year

U.S. office developers added 38 million square feet of new office space in the first six months of 2017, nearly 10% more than the same period last year, and construction starts are just now kicking into overdrive.

GlobeST.com

Subway-Station Naming Rights May Be Sold in NYC to Pay for Fixes

There are very few large blocks of medical space in Sugar Land, making it an ideal time for TierOne’s spec project to come out of the ground and attract medical office tenants to fill the healthcare void.

Downtowns Across Midwest Coming Back to Life

The long-term, secular trend toward urban living has changed CBDs throughout the region.

 WSJ

World Trade Center Retail Space Tries to Find Its Footing

As its first-year anniversary approaches, the $1.4 billion World Trade Center, hailed as a milestone in lower Manhattan’s recovery from the 2001 terrorist attacks, is still a work in progress.

WEEK: July 31, 2017

Biz Journals

Cousins, Hines Begin Designing the Second Office Building for Alpharetta’s Avalon

Cousins announced recently bought the last undeveloped office site in Avalon. The seller was PGIM, an affiliate of Prudential Financial Inc. (NYSE: PRU). No price was given.

Gulf Coast’s First Skyscraper Slated for $30 Million Renovation

The former Merchants National Bank building, built in 1929, will undergo a $30 million renovation starting next year.

CTA_Renovations

How Portland’s ‘Skyline’ Towers are Keeping Fresh to Compete

Owners of the city’s signature buildings are investing to attract tenants, push rents and win over prospective buyers.

Google Snaps Up 52 South Bay Properties Worth More than $820 Million

A real estate brokerage has been quietly assembling the properties on behalf of the search giant. The sales stitch together a real estate gap between multiple smaller campuses that Google has purchased or leased in recent years.

JBG Smith CEO Matt Kelly Rings in New Era at NYSE

In a ceremonial rite of passage for publicly traded companies, newly minted JBG Smith Properties CEO Matt Kelly rang the opening bell Wednesday morning to mark the start of trading on the New York Stock Exchange.

CIM Group Buys Prestigious Mixed-Use Property

Los Angeles-based CIM Group has acquired Turtle Creek Village, a mixed-use property with an 18-story office building and grocery-anchored retail center in Dallas’ prestigious Turtle Creek Boulevard neighborhood.

Bloomberg

Subway-Station Naming Rights May Be Sold in NYC to Pay for Fixes

New York’s deteriorating subway stations may be getting makeovers sponsored by companies that would pay hundreds of thousands of dollars for the opportunity to promote their brands at stops along the 700-mile system.

Hudson Yards Developers to Lure Night Traffic With Power Dining Boom

The teams from Charlie Bird and PDT are joining with a Vornado alum to launch the upcoming dining destination, Legacy Records.

NYT

New York Today – Swanky Workplace Perks

For some New Yorkers, being stuck inside the office, even on a less than splendid day, can be — dare we say it — fun. Around the city, companies are wooing employees with workplace perks that range from the practical, like health care plans or paid vacations, to the fanciful: In-house barista, anyone?

CTA_Property+

WEEK: July 24, 2017

Axios

E-commerce’s Next Victim: Commercial Real Estate

The shift to on-line shopping is now striking at the underlying value of malls, and commercial real estate as a whole.

Biz Journals

Brandywine Realty Moving HQ to City

The real estate company is the largest landlord of trophy space in Philadelphia and has a major project underway in University City.

How DC’s Newest Publicly Traded REIT Did on Its First Big Trading Day

Investors weren’t willing to pay quite as much as expected for shares of JBG Smith Properties on its first full day of regular trading Tuesday, but it’s too soon to draw any sweeping conclusions.

JBG Smith’s Top Target: The Reinvention of Crystal City

The new public company has more than 7 million square feet of former Vornado inventory in Crystal City. Much of it JBG Smith doesn’t see as office, but rather land primed for redevelopment.

Medical City Dallas’ $125M Luxury Women’s Hospital Reaches Project Milestone

A short-lived fire Wednesday led to the evacuation of a downtown office tower home to numerous companies — a headache for owner Clarion Partners, which had recently renovated the property.

The Georgetown Waterfront Connection to NASA’s New Downtown DC Landlord

The $360 million purchase of 300 E St. SW wasn’t the first deal for Hana Asset Management Co. LTD, which made another high-profile acquisition with Prudential Real Estate Investors a few years back.

Dallas-based Real Estate Firm Buys Medical Office Complex

The seven-building Class A complex is currently 75 percent leased by a mix of health care providers.

Colony Square Remake Gets $160 Million Green Light From Invest Atlanta

Atlanta’s economic development agency signed off Thursday on a plan to remake Colony Square into a mixed-use development that looks more like 2017 than the 1970s.

Half Empty, 3535 Market to Undergo $40M Renovation

The 18-story building has become nearly half empty as a result of Children’s Hospital of Philadelphia vacating 226,089 square feet of space.

Bloomberg

Here’s What It’s Like to Do Your Work on An AR Headset

Imagine an office without computer monitors, cubicles or chairs. Everyone is wearing headsets that project their work in the form of 3D holograms. Meta, an augmented reality startup, is making that reality.

CoStar National News

Office, Industrial Sales Hold Steady Even as Overall CRE Sales Volume Continues to Drift Lower in First-Half 2017

Investors continued to buy less commercial real estate in both the second quarter and the first half of 2017 compared to the same periods a year ago, a trend that started in 2016 as steady fundamentals that have resulted in generally robust occupancies and rental rate gains have boosted valuations across most property types.

Will Medical Office Continue to Support Rich Deals?

As foreign investors, REITs and other institutional buyers rush to scoop up medical office building (MOB) space and develop urgent care and other ambulatory care facilities, the growing pool of buyers competing for a limited number of available properties is driving capitalization rates lower.

NYT

Pittsburgh Gets a Tech Makeover

The city is newly stylish, with hyped restaurants and an Ace hotel, thanks to a steady flow of Carnegie Mellon grads who decided to stay.

WSJ

Tech Stocks Eclipse Record from Dot-Com Era

The S&P 500′s tech sector is on pace to close above its all-time high set back in March 2000, at the peak of the dot-com bubble.

WEEK: July 17, 2017

Biz Journals

Atlanta Adds Most New Office Space Since 2010, More on the Way

“Atlanta’s central business district is playing a more vital role in the attraction and retention of talent,” according to Jones Lang LaSalle Inc.

How Retail Shifts are Impacting Birmingham

Closures, consolidations, and contractions are getting all the attention in the retail world. But there’s more to the story.

JBG Lands First Tenant for Dupont Circle Development

Goodwin Procter LLP has officially signed on as the first tenant at 1900 N St. NW, marking the first tenant for The JBG Cos. with its redevelopment of the Dupont Circle project.

Fire Briefly Threatens Downtown Austin Office Tower

A short-lived fire Wednesday led to the evacuation of a downtown office tower home to numerous companies — a headache for owner Clarion Partners, which had recently renovated the property.

JLL Starts New SF-based Venture to Expand Tech Tools for Real Estate

Commercial brokerage firm JLL launched a new division in San Francisco to tackle proptech, a rapidly growing field that combines technology and commercial real estate.

CoStar

GSA Will Go Back to the Drawing Board After Canceling Search for New FBI Headquarters Site

The federal government today formally announced it will cancel the search for a new FBI headquarters site. The announcement follows years of relocation planning and several attempts to garner congressional support for a public/private partnership to move the bureau out of the crumbling J. Edgar Hoover Building in Washington, D.C. to a new office campus in the Washington suburbs.

Ivanhoe Cambridge Acquires Evergreen Industrial Properties from TPG Real Estate

Montreal-based Ivanhoé Cambridge made its first major move into the ‘last mile’ warehouse market this week, closing on its purchase of Evergreen Industrial Properties from private equity investment firm TPG Real Estate.

Columbia Teams with Allianz Real Estate in New JV to Acquire Class-A Office Property

Seeking to acquire more office properties in its core markets without resorting to issuing stock or raising leverage, Columbia Property Trust formed a joint venture with Allianz Real Estate to pursue Class-A office properties in certain U.S. markets.

NYT

3 Dead in Fire at Honolulu High-Rise with No Sprinklers

At least three people died and 12 were injured Friday in a fire at a Honolulu high-rise that was not equipped with sprinklers, authorities said, and hundreds fled the giant condominium complex as smoke billowed from the upper floors.

Building Boom in Boston Casts Shadows on History and Public Space

Laws that restrict new construction from creating shadows on two of the city’s cherished public parks may be changed for a proposed 775-foot tower.

The Verge

Handrail Sterilizer Claims to Wipe Out Germs on Escalators

Ever feel severe anxiety at the thought of touching grotty escalator handrails? LG Innotek and Clearwin claim that their new sterilizer can wipe out 99.99 percent of germs on handrails through a process known as ultraviolet germicidal irradiation (UVGI). It’s a world’s first, according to the companies.

Chinese Umbrella-Sharing Startup Loses Most of its 300,000 Umbrellas in Three Months

The sharing economy has made it easier for communities to peer exchange anything from a spare bedroom in your house to car rides and bicycles. But the model doesn’t work for everything, as one umbrella-sharing startup learned the hard way.

WSJ

Can the Tech Giants Be Stopped?

Google, Facebook, Amazon and other tech behemoths are transforming the U.S. economy and labor market, with scant public debate or scrutiny. Changing course won’t be easy.

WEEK: July 10, 2017

Axios

People Will Spend 3.5 Trillion Hours on Mobile Apps by 2021

If you thought people were glued to their smartphones already, just wait: App Annie projects that the total number of hours spent using mobile apps will rise to 3.5 trillion hours by 2021, up from the already considerable 1.6 trillion hours logged last year.

Doctors Go Digital to Check Up on Patients

Digital medicine is being adopted by hospitals and health systems to assist patients’ self-management of chronic diseases, the Wall Street Journal reports .

Biz Journals

Chicago Has Highest Percentage of Green Office Buildings in the US

Every city wants to go green. But when it comes to energy efficient office buildings, no place is greener than Chicago. Chicago has the highest percentage of LEED or Energy Star certified office buildings in the US, according to a new study by CBRE Group and Maastricht University.

Atlanta Company Buys Tampa Office Tower

An Atlanta firm has made its first foray into Tampa with the purchase of a prominent office building that rises at one of the city’s busiest intersections.

GSA Pushing to Clear Impasse on Major DC Leasing Deals

The federal government’s real estate arm has already gotten approval from a key House committee but needs the blessing of its Senate counterpart before it can resolve a pair of big headquarters leases.

Denver’s Commercial Buildings Get Benchmarked

Commercial buildings in Denver must comply with a new city rule around energy-efficiency or face a fine.

Top JBG Executive to Depart Post-Merger

The departure after nearly four decades comes as the Chevy Chase-based developer prepares to merge with Vornado Realty Trust’s D.C. unit.

Steelwave to Develop $106M Mixed-Use Project on 15 Prime Acres

Steelwave is set to begin developing the project on property owned by Ohlone College that has been plagued with false development starts for more than two decades.

Houston REIT With Orlando Roots to Sell in $1.2B Deal

A Houston real estate investment trust that was born and bred in Orlando’s office market will sell to the Canada Pension Plan Investment Board for $1.2 billion.

Akridge Poised to Take One More Anchor Law Firm Off the Table

Morrison & Foerster LLP is in talks to anchor Akridge’s redevelopment of the Humane Society of the United States’ former headquarters on D.C.’s West End, a significant coup for the developer and loss for competitors with big spaces to fill elsewhere.

Is CoStar a Monopoly? Xceligent Thinks So

CoStar Group Inc. is denying allegations brought by Xceligent that it has engaged in monopolistic business practices, asserting the real issue is the unlawful use of its own proprietary content.

Here are SF’s Biggest Construction Projects Right Now

The largest construction projects underway in San Francisco will bring major office, residential, retail, health care and transit projects to the city. They include the new Salesforce Tower, California Pacific Medical Center’s new Cathedral Hill hospital and the future home of the Golden State Warriors.

Motiva Expands in Allen Center, One Allent to Become Motiva Plaza

The announcement comes a little more than a year after the owner launched a $48.5 million renovation of the three-building office complex.

Newton REIT Buys First Potomac Realty for $1.4B

Newton-based Government Properties Income Trust is buying Bethesda, Maryland-based First Potomac Realty Trust in a $1.4 billion deal announced today, several months after the First Potomac had reportedly started exploring the option of an acquisition.

Bloomberg

Three Easy Tips to Protect Your Passwords

Following these steps will do a lot to safeguard your online accounts.

Millenials and Their iPhones are Killing Your Old Power Company

It wont be long, experts say, before the average Londoner will be able to program her day to start this way…

CoStar National News

Vornado’s DC Spinoff, Merger with JBG Leading Fresh Crop of Newly Launched REITs

The REIT sector may be losing First Potomac Realty Trust, which this week accepted a buyout offer from Government Properties Income Trust (Nasdaq:GOV), but several others are lining up to take its place. In fact, the period since the start of June is shaping up to be the most active period for public REIT launches in more than 13 years.

Two Tallest Buildings on West Coast Making Their Debut in LA, San Francisco

The tallest building in the western U.S. is officially open, to be followed within days by the debut of the second-tallest building in the west.

Pair of US Construction Outlooks Reflect Continued Strong Pipeline for Commercial Developers

Industry reports released over the past few days, including a new index unveiled by the U.S. Chamber of Commerce and materials supplier USG Corp., reveal strong performance by the U.S. commercial construction industry, along with optimism among contractors that the trend will continue into at least 2019.

WEEK: June 19, 2017

Axios

Mobile Data Consumption Will Soon Surpass Fixed Broadband

U.S. smartphone data use will surpass fixed broadband use for the first time next year, according to PriceWaterhouseCoopers’ latest Media and Entertainment outlook. By 2021, mobile data consumption is expected to eat up nearly 38% of all digital data consumption in the U.S., while fixed broadband will take up 27%, roughly 4 percentage points less than it does today.

ARS Techina

Advanced CIA Firmware Has Been Infecting Wi-Fi Routers for Years

Home routers from 10 manufacturers, including Linksys, DLink, and Belkin, can be turned into covert listening posts that allow the Central Intelligence Agency to monitor and manipulate incoming and outgoing traffic and infect connected devices.

Biz Journals

Vornado Delays JBG Smith Launch, Outlines Planned Debt and Properties

Vornado Realty Trust (NYSE: VNO) has stepped back from aim of a second-quarter launch of JBG Smith Properties, the spin-off and merger of its D.C. business unit with that of The JBG Cos., the New York-based real estate investment trust disclosed Monday.

Buckhead’s TechRise Redevelopment Could Hit $10 Million

TechRise will address a pain-point for tech startups that can’t afford, or don’t want, long-term office leases.

JBG, Potomac Nationals Issue Ultimatum on New Stadium

Sending a bond issue to referendum could kill the whole deal — and the team’s location in Virginia, a JBG executive said.

Facebook in Talks for Big Downtown San Francisco Lease

To date, the tech giant has centered its growth on Menlo Park, shuttling employees from the city to the Silicon Valley. But large tech firms have been growing more in San Francisco, as workers have gravitated to living in the city and complained about long commutes to suburban corporate campuses.

AT&T Invests Millions in Downtown Building

The city of St. Louis’ Building Division in May issued a $3.67 million building permit to contractor Tarlton Corp. for upgrades at 1010 Pine Street, which sits across North 10th Street from AT&T Center.

Bloomberg

San Francisco Refugees Go From Hell No to Hello Sacramento

As the cost of daily life tests the bounds of gravity in San Francisco, a beneficiary has emerged 90 miles away.

CoStar National News

The Future of Autonomous Driving is Coming Down the Road Fast with Major Implications for Real Estate

Intel CEO Brian Krzanich has a warning for companies and industries that haven’t started to prepare for the next big tech disruptor — don’t wait. “Companies should start thinking about their autonomous driving strategy now,” said Krzanich, who ranks the fast-developing technology on par with the rise of personal computing, the internet and smartphones for its potential impact on traditional business models.

Google’s Massive ‘Tech Village’ Proposal in Downtown San Jose Could Reach 8 Million SF

In a project that would dramatically reshape San Jose’s downtown, Google is in talks with the city to develop a massive tech campus containing at least 6 million square feet of office space and housing on 245 acres near Diridon Station and the SAP Center.

WSJ

1031 Exchange Real Estate Tax Break Faces Extinction

A much-loved tax advantage in the commercial real-estate industry is on the chopping block even as chances dim for the passage of a broad federal tax overhaul this year.

Mall Tenants Play Hardball In Lease Negotiations

Retailers, food and beverage operators and department store chains looking to renew their leases have been asking for more allowances from mall owners.

WEEK: June 12, 2017

Biz Journals

Kushner-backed Real Estate Platform Cadre Raises $60 Million

New York-area startups and venture capitalists are making funding deals with the hopes of creating the next profitable company. Here’s one deal announced Tuesday: Who gets: Cadre, an online investment marketplace co-founded by President Trump’s son-in-law and senior adviser Jared Kushner, announced a new financing round.

Clarion Partners Buys Atlanta Area Industrial Project for $55 Million

Clarion bought the property at 8095 McLarin Road in Palmetto, Ga. May 26, according to Fulton County property records.

Bloomberg

Workplace Shootings, Like Orlando, Tick Upward in US

Fatal workplace shootings, like the one Monday in Orlando, Florida, are ticking upward in the United States, government statistics show.

CoStar National News

Quality Care Properties Seeks Financing To Save Largest Tenant, Abandoning REIT Status

Quality Care Properties, the new health care REIT set up by HCP last year to take the troubled skillled nursing center operator, HCR ManorCare Inc., off its hands, is facing a difficult choice. With HCR ManorCare falling behind in rent and doggedly pursuing an out-of-court restructuring, Quality Care Properties is considering taking over the struggling skilled nursing center operator, which is by far its biggest tenant.

NYT

Social Interaction is Critical for Mental and Physical Health

Social interaction is a critically important contributor to good health and longevity.

WEEK: June 5, 2017

Biz Journals

Long & Foster Cos. Execs Part with Brokerage’s Longtime Georgetown Office for $8.5 Million

D.C.-based developer Penzance Cos. has acquired Long & Foster Real Estate Inc.’s longtime Georgetown office building for about $8.5 million but doesn’t plan to displace Greater Washington’s largest residential real estate company from the premises anytime soon.

Los Angeles Company Becomes Landlord for Costco and Microsoft

A global real estate investment company has paid $153 million for 90 East, an Issaquah office campus that is home to Costco and Microsoft, public records show.

Boston Properties Relents on Paid Parking at Reston Town Center

Boston Properties (NYSE: BXP) is amending its paid parking structure at Reston Town Center, responding to five months of business and community outrage. Starting June 5, visitor parking will be free weeknights after 5 p.m., and the first hour will be free prior to 5 p.m. on weekdays.

What Will Hines and Invesco Do Next at Atlantic Station?

Hines announced May 30 it formed a joint venture to develop the projects with Invesco Real Estate, which is representing an unidentified fund.

Bloomberg

JetBlue and Delta Test Biometric Scanning to Replace Boarding Passes

JetBlue Airways Corp.plans to test facial-recognition technology to match travelers to passport or visa photos, adding to efforts by other carriers to eliminate the need for boarding passes.

CoStar National News

Blackstone Regains Top Position as World’s Largest Real Estate Asset Manager

Blackstone Group LP edged out Brookfield Asset Management Inc. to reclaim its position as the world’s largest real estate asset manager as the total value of global real estate assets under management reached $2.7 trillion (Euro 2.4 trillion) in 2016, up more than 20% from the previous year, according an annual joint report by three real estate investment management organizations.

Ivanhoe Cambridge, Callahan Capital Acquire Manhattan’s 85 Broad Street in Latest Office Buy

Ivanhoé Cambridge, Inc. and its investment partner, Callahan Capital Properties (CCP), have acquired the office building at 85 Broad St. in New York Cityfor approximately $650 million, or about $580 per square foot, from a joint-venture between MetLife Real Estate and Beacon Capital Partners.

NYT

A Newbie’s Guide to Saddling Up and Pedaling Off to Work

The right preparation, from staying clean to freshening up at your destination, can make all the difference in your ride and your outlook.

WSJ

Why Remote Work Can’t Be Stopped

Even as work-from-home policies are reconsidered at big companies like IBM and Aetna, more Americans overall are working remotely than ever before.

Why Dead Mall Space Could Spur Warehouse, E-Commerce Deals

Excess parking facilities and underused retail space could be redeveloped into small-scale last-mile delivery or pickup facilities, Fitch Ratings said.

New Jersey Landlords Sweeten Perks With Ride-Hailing Subsidies

Food trucks and fitness centers are among the amenities that New Jersey office landlords have been using to attract tenants.The latest perk: Subsidies for digital ride-hailing services such as Uber and Lyft.

Barclays Buys Revamped Office Complex in North Jersey

A joint venture that revamped a bland New Jersey office campus into a modern complex with an amenity building, a bike-share service and walking trails has sold the property to Barclays PLC.

WEEK: May 22, 2017
Biz Journals

Renovations at One Oxford Centre

With $10 million in renovations underway for the building’s HVAC, windows and parking garage, Shorenstein Properties LLC has provided a preview of its second phase of renovations at One Oxford Centre.

For Clarion Partners, Platinum is a Landlord’s Best Friend

Earning LEED certification for a ground-up office building is challenging enough, but capturing the highest “platinum” rank of eco-friendliness may be one of the most difficult undertakings as a real estate landlord.

To LEED or Not to LEED? That is the Question for Austin Builders

Here’s another power player offering thoughts on the value of green-building certifications. Mike McDonald of Eastdil Secured, who has brokered some of Austin’s biggest office investment sales in the past decade, has noticed a changing climate when it comes to paying more for LEED certified buildings.

Bloomberg

Starbucks Payment Systems Crash After Company Updates Technology

Starbucks Corp., the worlds biggest coffee-shop chain,suffered crashes at some of its payment systems following a routine technology update.

CoStar National News

Brookfield Buys $854.5 Million of Properties from TA Realty

Brookfield-sponsored private equity funds completed their purchase of a pair of portfolios involving 46 properties from TA Realty for $854.5 million.

Latest Fed Survey Reflects Slowing CRE Loan Demand

With memories still fresh from the 2007 financial meltdown precipitated by unrestrained real estate borrowing, US bank lending officers are showing a reduced tolerance for risk and reporting tightened CRE lending policies – most notably on multifamily lending.

Forest City Down to Final Approvals for Ceding $4 Billion Retail Portfolio to Australian Buyer

Sydney, Australia-based QIC Global Real Estate and Forest City Realty Trust Inc. (NYSE: FCE.A) are close to finalizing a deal under which QIC will take full control of 11 regional malls valued at about $4 billion that they both currently control.

NYT

Remaking Baltimore’s Waterfront, With a Splash of Whiskey

With the help of a horse farm once owned by a Vanderbilt, the Under Armour founder Kevin Plank is restoring luster to Maryland traditions and landmarks.

WSJ

Why GE is Moving from the Connecticut Suburbs to Boston

Chief Financial Officer Jeffrey Bornstein says being near students was a major attraction.

WEEK: May 15, 2017
Biz Journals

More Details Revealed on Plans for Old AT&T Building

Troy Farah doesn’t want to follow a trend of tearing down an old downtown office building and turning it into apartments. Rather, the Flint, Mich.-based development executive wants to take the “good bones” in the vacant five-story AT&T building on Orange Avenue and preserve them while creating speculative Class A office space in the central business district.

Renovated Downtown Houston Building to Add Food Hall

The Jones on Main — a downtown property that’s undergoing a number of changes — reportedly will add a food hall. The Houston Chronicle reports the food hall is expected to open in early 2018 in the JPMorgan Chase Building at 712 Main.

Houston-based Hines Unveils New 135-acre, Campus-anchored Project in Allen Corridor

Global real estate firm Hines unveiled plans for a new 135-acre, campus-anchored mixed-use development along Allen’s 121 corridor, which could bring thousands of square feet of office space, retail shops and urban-style living options to the North Texas city.

San Francisco Office Landlords Pump Up Concessions to Keep Rents High

Office rents in San Francisco may have peaked, prompting landlords to sweeten deals to sign leases, according to a recent report from tenant representation firm Savills Studley.

Bloomberg

Kushner Family Backs Out of Planned China Event for Investors

The company belonging to Jared Kushners family is pulling out of a presentation to investors in China following criticism that his sister invoked his work for his father-in-law, President Donald Trump, in a similar pitch last weekend.

CoStar National News

China’s HNA Group Completes $2.2 Billion Purchase of 245 Park Ave.

China-based HNA Group and its undisclosed partners have closed on their $2.21 billion purchase of 245 Park Ave. in Manhattan from a joint venture of Brookfield Property Partners and the New York State’s Teachers Retirement System.

Chicago Building Boom Reshaping the Windy City

With more cranes soon to join the dozens already dotting the downtown Chicago skyline, developers have more than 6 million square feet of office space and thousands of apartment and condominium units in various stages of completion.

WSJ

Cyber Victims Begin to Assess Financial Damage

Governments and companies reported more infected computers stemming from a global cyberattack that wreaked havoc through the weekend, as IT departments around the world kicked off a fourth day trying to determine the scope of damage and recover from it.

Hard Times Hit High-End Housing

Rising demand for luxury apartments has spurred an epic building boom that now threatens the health of this sector of the U.S. housing market.

Apple’s New Headquarters Is a Sign of Tech’s Boom, Bravado

Apple Inc.’s new headquarters in Silicon Valley is the most lavish in a spate of glitzy new architectural projects by tech titans at a time when their businesses are booming and market valuations are soaring.

Mall Owners See Strength in Smaller Numbers

Retail real estate landlords are scrutinizing their portfolios to cherry-pick prime assets that would benefit from concentrated investments.

 WEEK: May 8, 2017
Biz Journals

Seattle Sops Up More Office Space Than All the Other West Coast Markets Combined

The Puget Sound region’s office market is one of the strongest in the country, and by the latest measure it’s stronger than all the West Coast markets put together.

How Birmingham’s Growing Tech Scene is Affecting Office Design in the Magic City

Much of the new office space product hitting the market isn’t your father’s office space. As a wave of companies graduate from Innovation Depot and other tech startups outgrow their initial space, the result has been a changing philosophy for office space design in the Magic City.

First Look: JBGs Plans for Former Wisconsin Avenue Holiday Inn

The JBG Cos. has a plan for the former Holiday Inn in Glover Park, where it will reuse part of the structure and develop an addition to bring residential over food-focused retail to the community.

MakeOffices CEO Zach Wade: We Have a New Concept and Will Grow Again

Zach Wade, the MRP Realty executive who is MakeOffices’ new CEO, is turning his focus to expanding the company’s footprint with a goal toward elevating it to the status of co-working heavyweight WeWork.

Waterview in Rosslyn Sells for $460 Million in Cash

Paramount Group has officially parted way with Waterview, the 24-story, 647,000-square-foot office tower overlooking the Key Bridge in Rosslyn.

Hudson Pacific Adds Third Studio to Hollywood Portfolio

Sunset Gower and Sunset Bronson Studios have a new sister site: Sunset Las Palmas. Hudson Pacific Properties has acquired Hollywood Center Studios for $200 million and renamed it to fit in with its Sunset Studios brand.

Here’s What Mitchell Schear Will Do – and Earn – After the JBG Smith Merger

Mitchell Schear’s employment at Vornado Realty Trust will end when the company merges its D.C. business with The JBG Cos. and he becomes a paid consultant with the new company.

Bloomberg

New York Condo Deals Sought for Online Investors by New REIT

A new real estate investment trust opened shop this week, seeking to raise $50 million from investors online. It plans to use the money on some of the most sought after properties in the world: New York apartments.

Brooklyn’s Office Boom Isn’t Drawing Big Manhattan Tenants

Sunset Gower and Sunset Bronson Studios have a new sister site: Sunset Las Palmas. Hudson Pacific Properties has acquired Hollywood Center Studios for $200 million and renamed it to fit in with its Sunset Studios brand.

CoStar National News

Major CRE Players Report Solid Q1 Results, Predict Stable Market Conditions for Balance of 2017

CBRE Group, Inc., Colliers International, HFF, Inc. and Newmark Grubb Knight Frank each reported solid results in their businesses for the first three months of 2017, with moderating but stable growth predicted for 2017.

Shopping Center REIT Execs Push Back Against Negative Fallout from Retailer Bankruptcies

Retail REITs have been hitting back against the onslaught of negative retail headlines and analyst sentiments during the current round of quarterly earnings conference calls, with executives touting robust leasing, strong shopper foot traffic and occupancies, and even rising rental rates.

NYT

Email Attack Hits Google: What to Do if You Clicked

Recipients who clicked on the email and followed its instructions probably gave spammers access to their contact lists, letting them send more email.

Reuters

Two Dead, Including Suspect in Dalls-area College Shooting

AUSTIN, Texas (Reuters) – A gunman who opened fire on Wednesday on a college campus in the Dallas suburb of Irving, Texas, apparently killed one victim and committed suicide, local police said.

NSA Collected Americans’ Phone Records Despite Law Change

WASHINGTON (Reuters) – The U.S. National Security Agency collected more than 151 million records of Americans’ phone calls last year, even after Congress limited its ability to collect bulk phone records, according to an annual report issued on Tuesday by the top U.S. intelligence officer.

TechCrunch

WeWork’s Office Takeover Continues with the Launch of the Services Store

WeWork, the co-working giant with more than 100,000 members, is today launching the WeWork Services store

Who Needs the FCC? Seattle Writes Its Own Broadband Privacy Rule

Hardly anyone was pleased by the rollback of the broadband privacy rule last month, opening up the possibility of ISPs collecting and selling your browsing data — including, as it turns out, cities whose citizens were left out in the cold. Seattle wasted no time taking matters into their own hands, and the result is a local rule that provides a few of the repealed one’s critical protections.

WSJ

New York Landlords Rollout Freebies to Attract Tenants

Manhattan office landlords are boosting their use of concession packages such as free rent and remodeling cash to entice tenants to take space.

Labor Shortage Squeezes Builders

As demand for commercial real estate climbs, contractors say they are seeing shortages of electricians, carpenters and other subcontractor laborers, making it harder to hold down costs.

Kushner Cos. Push Investor Visas to Wealthy Chinese in Skyscraper Pitch

As demand for commercial real estate climbs, contractors say they are seeing shortages of electricians, carpenters and other subcontractor laborers, making it harder to hold down costs.

WEEK: May 1, 2017
Biz Journals

Duke Realty Selling Its Medical Office Buildings, 11 in Georgia for $2.8 Billion

Healthcare Trust of America Inc. (NYSE: HTA) and Duke Realty Corp. (NYSE: DRE) announced a blockbuster deal Monday morning in which Healthcare Trust of America will buy Duke’s entire portfolio of medical office buildings, including 11 in Georgia, for $2.8 billion.

Foulger-Pratt has a Plan for Residential and Artists’ Space at Eckington Park

Foulger-Pratt has a closer look at what it plans to build at Harry Thomas Way and R Street NW in Eckington. Eckington Park will be a 328-unit rental residential building that features nine, two-story artists’ lofts, a revived pedestrian area on Harry Thomas Way, continuity with JBG’s Eckington Yards project nearby, and a connection with the future NoMa Green Park, according to the project’s D.C. Zoning application.

Big Moves Create Vacancies in Downtown Skyscrapers

There may be some big holes to fill in downtown Birmingham’s office market, but local brokers are still optimistic about the prospects for the city center market.

Kilroy Realty to Start Building $370M South lake Union Development

The head of Kilroy Realty Corp. on Thursday said his company will break ground later this quarter on 333 Dexter, a two-building mixed-use office complex at the north portal of the future Highway 99 tunnel.

Massive Mission Bay Office and Lab Project Delayed by 9 Months, Adds $75 Million in Costs

Kilroy Realty Corp. is delaying the opening of its Exchange project by about nine months and spending an additional $75 million to make it more attractive to life sciences tenants.

Forest City Takes Waterfront Station in An Entirely Different Direction

Forest City Washington has given up on the prospect of office as the dominant use in two new buildings it has long planned for Southwest D.C.

JP Morgan Chase’s 1M SF Regional Campus in Plano’s Legacy West Reaches A New Limit

Financial giant JP Morgan Chase & Co. (NYSE: JPM) has reached a new limit on the vertical height of its 1 million-square-foot campus in Plano’s Legacy West.

First Potomac Realty Trust Reportedly Exploring a Sale

The JBG Cos., having assembled over several years the full block of N Street between 19th and 20th streets NW, appears ready to advance its ambitious plans for the prime site just south of Dupont Circle.

Closer Look: What’s a REIT?

A REIT, or a real estate investment trust, allows investors to buy properties and invest in real estate without owning the buildings or the dirt beneath them.

Bloomberg

Wall Street Wellness Programs Are Being Used to Drive Sales

Most companies want healthier employees to cut insurance costs. ING wants them to increase profit.

CoStar National News

Blackstone Sells Pair of Santa Monica Office Buildings to Douglas Emmett

Blackstone Group this week sold a pair of Santa Monica office buildings totaling about 292,667 square feet to a joint venture of Los Angeles-based Douglas Emmett, Inc. and the Qatar Investment Authority, commanding a premium sale price of approximately $352.8 million.

US Office Vacancy Rises for First Time Since 2010 as Construction Peaks and Rent Growth Slows

The U.S. office vacancy ticked up 0.1% in the first three months of 2017 to 10.3% marking the first quarterly increase since 2010. Total net absorption in the US office market slipped approximately 9% from the same period a year ago as developers added an additional 19 million square feet of new office space across the country.

San Diego, Tampa Emerge as Surprising Standouts in Recent Office Performance

A combination of low levels of new construction, steady occupancy growth and a strong job market and local economy have boosted the profiles of two surprising office markets.

NY Times

Putting the Front Desk in the Hotel Guest’s Pocket

For everything from requesting extra towels to opening doors, hotels offer apps and technology to keep customers happy and coming back.

With Government Retreat, Companies Step Up Emissions

The Trump administration may be pondering a retreat from the United States’ climate commitments, but corporate America is moving ahead with its own emissions goals. With solar panels at the Googleplex, headquarters of Google in Mountain View, Calif. Its data centers worldwide will run entirely on renewable energy by the end of this year, the technology giant announced in December.

The Verge

The FCC’s Plan to Kill Net Neutrality, and It’s a Vague, Open-ended Mess

The FCC put out its draft proposal for reversing the 2015 net neutrality order today, and the oddest thing about it may be how little the commission has thought through what to do with basic internet protections.

WSJ

Retail Slump Pounds Manhattan Landlords

Asking rents in many of New York City’s priciest shopping corridors declined in the first quarter of 2017.

WEEK: April 24, 2017
Biz Journals

Virtual Reality’s Next Frontier: Commercial Real Estate

Paper floor plans and 3-D models of commercial projects soon may be a thing of the past as the market for virtual reality grows. Virtual reality — an industry projected to be worth $38 billion globally by 2022, according to research firm SuperData — is changing the way interior designers and architects present ideas to clients.

Big Real Estate Deal Could Bring 3,200 Jobs to East Valley Hub

Another 3,200 jobs could be coming to Tempe at a new development being built at the Loop 202 and 101 freeways. Freedom Financial Network — a Silicon Valley based online financial services and debt consolidation firm — has inked a 300,000-square-foot lease at Rio2100.

JBG Advancing DuPont Circle-Area Office Building, Reportedly Lands Anchor Tenant

The JBG Cos., having assembled over several years the full block of N Street between 19th and 20th streets NW, appears ready to advance its ambitious plans for the prime site just south of Dupont Circle.

The Parking Wars at Reston Town Center

For more than 20 years, Reston Town Center has been revered as a unique and popular destination. It’s a national model for modern mixed-use development, with high-rise office and residences creating a slice of urban life in the middle of the suburbs. It’s a place with big city amenities — think expense-account meals at Morton’s, an Apple Store and a half-dozen craft cocktail hotspots — that attracts techies, shoppers, concertgoers and ice skaters alike.

$2.8 Billion in Development in the Works in Downtown Denver

Thirty-one projects totaling nearly $2.8 billion in investment are either planned or under construction in downtown Denver, according to the Downtown Denver Partnership’s annual report. These projects include 1,181 hotel rooms, 5,431 residential units and 2.5 million square feet of office space.

Downtown Office Tower Could Face Steep Valuation Cut After AT&T Leaves

When AT&T vacates more than 1 million square feet of office space at One AT&T Center in downtown St. Louis, it will likely trigger a dramatic cut in the 44-story building’s valuation. AT&T is set to move out of the building, which totals 1.2 million square feet, in September.

Bloomberg

Desperate Malls Turn to Concerts and Food Trucks

Retail landlords want to create experiences people cant replicate online.

CoStar National News

Survey: Investor Concerns Over Policy Uncertainty, Gridlock Temper Bullish CRE Outlook

Major steps announced Friday by President Donald Trump to roll back Dodd-Frank regulations and unveil a “massive” tax reform package next week are clearly manna from heaven for CRE investors and lenders, with nearly two-thirds of the executives surveyed by national law firm Akerman LLP believing Trump’s pro-business policies will have a positive impact on the real estate industry this year.

“Restrained Optimism” Reigns in Latest ULI Forecast Predicting More Modest CRE Growth Through 2019

Reflecting what one real estate economist described as an overall sentiment of “restrained optimism,” the latest ULI Real Estate Consensus Forecast sees a more modest rate of commercial real estate transaction from the frenzied pace seen in recent years, and a gradual slowing but still increases in rental rates, occupancy and pricing through 2019.

Caterpillar Bucks Trend, Selects Suburbs for HQ Location Over Downtown Chicago

Heavy equipment manufacturer Caterpillar Inc. announced Wednesday it will relocate its global headquarters to the northern Chicago suburb of Deerfield after more than 90 years of being based in Peoria, IL. Caterpillar CEO Jim Umpleby said that the company picked Deerfield, located about 25 miles north of downtown Chicago, primarily because of its proximity to O’Hare International Airport and convenient commuter train access to Chicago.

NY Times

Trump’s Industry, Real Estate, Poses Hurdle to Tax Overhaul

The president, who says a sweeping plan is coming, has embraced positions that would benefit developers — a powerful lobby — and complicate changes.

For First Time Since 1800s, Britain Goes a Day Without Burning Coal for Electricity

For the first time since the Industrial Revolution, Britain went 24 hours without using coal to generate electricity, and expects to end all such use by 2025.

Running May Be Socially Contagious

Our workouts may be shaped by what our (virtual) friends do.

Tech: Re/code

Autonomous Driving is Here, and It’s Going to Change Everything

Imagine what it must have felt like to be in a major urban center like New York or Boston in the early 1900s when, in a sea of horses and humans, the first automobile “putt-putted” past.

WSJ

New Jersey Office Market Slump Worsens

New Jersey office leasing for the first quarter hit a multiyear low, as tenants avoid dated corporate campuses and demand proximity to transit and urban amenities.

Brick-and-Mortar Stores are Shuttering at a Record Pace

Years of overbuilding and the rise of online shopping have come to a head, resulting in the planned closure of thousands of stores by chains such as Payless, RadioShack and Bebe.

Malls Deploy Technology to Lure – and Keep – Shoppers

Mall landlords faced with declining sales and disappearing stores are deploying smartphones, social media and other technology to lure customers—and then keep them spending.

Office Market Swings in Tenants’ Favor

The seven-year expansion in the U.S. office market slowed in many big cities in the first quarter.

WEEK: April 17, 2017
Biz Journals

New Deals Filling Up North Hills Office Towers

A flurry of deals is filling each of the three office towers lining Six Forks Road at the I-440 Beltline in midtown Raleigh’s North Hills.

How Colombus, Ohio’s Arena District Inspired Milwaukee, Other Cities

Milwaukee Bucks president Peter Feigin is one in a long line of sports team executives to have made a pilgrimage to Columbus’ Arena District over the past decade and a half.

Boston’s Center Plaza Commands $365 Million

Synergy Investments and GreenOak Real Estate are the new owners of the 741,200-square-foot office and retail property, which comprises three interconnected buildings near Boston City Hall.

Bloomberg

The Hottest New Hotel Amenity is the ‘Hammock Floor’

What is a hammock floor, you ask? Why, it’s the booby trap of your dreams!

Don’t Worry, Driverless Cars are Learning from Grand Theft Auto

In the race to the autonomous revolution, developers have realized there arent enough hours in a day to clock the real-world miles needed to teach cars how to drive themselves. Which is why Grand Theft Auto V is in the mix.

Reuters

Partial Owner of Kushner’s New York Flagship Property Willing to Sell

NEW YORK (Reuters) – Efforts to breathe new life into an ageing Manhattan office building that is the flagship property of the family of President Donald Trump’s son-in-law has gained a green light after a partial owner of the building indicated a willingness to sell.

WSJ

US Lending for Commercial Properties Falls as Investors Pull Back

Commercial real estate lending by banks, insurance companies and other financial institutions is declining as sales activity slows and regulators voice concern about the sector.

WEEK: April 10, 2017
Biz Journals

Brookfield Picks Up Trio of D.C. Area Properties in $854 Million Portfolio Deal

The U.S. Fish & Wildlife Service’s former Ballston headquarters will get a new round of renovations following its acquisition by an affiliate of Brookfield Property Partners as part of a much larger portfolio sale.

Mall Owner Macerich Gets Boost From Price Targets Even as It Adjusts to an Amazon.com World

Shares of mall owner Macerich Co. ended the day up 46 cents Mondayclosing at $64.86. That was 0.71 percent gain but Macerich’s stock is still down 8.44 percent so far this year, according to Google Finance.

Beacon Capital Buys Site of Hub Development in RiNo

Beacon Capital Partners LLC, the Boston-based owner of Wells Fargo Center in downtown Denver, has purchased a two-acre River North parcel from a Denver-based company that had big development plans for the site.

How Green is Your City? Here’s How Its Building Practices Compare to Other U.S. Real Estate Hubs

The United States saw more than 3,400 properties win LEED certification from the U.S. Green Building Council over the past year, a surge in energy-efficient construction affecting some 1,324 cities throughout the country.

Bloomberg

Vornado’s Roth Sees Chance to ‘Feed on the Carnage’ in Retail

Steven Roth, Vornado Realty Trusts chief executive officer, said it may take more than five years for U.S. brick-and-mortar retailers to downsize enough to reflect new consumer preferences, creating potential buying opportunities for companies with enough cash.

San Francisco Skyline Remade by Tallest West Coast Office Tower

One of the most visible symbols of San Franciscos technology-fueled boom is nearing completion and reshaping the citys skyline.

Tech: Re/code

The Next Evolution in Office Working Could Be Employees Getting Implanted with a Microchip

From pacemakers that keep the heart beating to swallowable sensors that can tell when someone takes their meds, people have been implanting machines into their bodies for decades. But a growing trend in bodily implants — inserting a computer chip under the skin — is more about morphing people into literal cyborgs than addressing a medical condition.

WEEK: April 3, 2017
Biz Journals

Sale of Underground Atlanta Officially Closes

The city of Atlanta on Friday officially closed the sale of Underground Atlanta to developer WRS Inc. for $34.6 million. “The sale of Underground Atlanta is another milestone in the revitalization of South Downtown Atlanta,” said Mayor Kasim Reed in an announcement.

Akridge to Forge Ahead Without Tenants on New DC Office Project

Akridge has started work on its planned redevelopment of the former YMCA building at 1701 Rhode Island Ave. NW, a little more than a year after the YMCA of Metropolitan Washington decided to shutter the facility and refocus its efforts on other parts of the District.

Hines Buys, Rebrands, Expands Industrial Park Near Port of Houston

Houston-based Hines announced March 30 it acquired the Underwood Distribution Center, an industrial park in La Porte, from BlackRock for an undisclosed amount. The Class A park currently has five buildings totaling 2.2 million feet, which are 100 percent leased, and three development parcels.

Bayer Exec On What’s Next for Pizitz, Future Downtown Deals and More

When Jeffrey Bayer and David Silverstein bought the Pizitz building 17 years ago, downtown Birmingham was a very different place from what it is now.

Bloomberg

People are Paying to Work from Bars and Restaurants

Restaurant owners are jumping on the co-working bandwagon by transforming their spaces into WeWork-style offices during the day.

CoStar National News

Institutional Investors Coming Around to Student Housing, Sector Seen as Recession-Resistant Alternative

Once an overlooked niche, the student housing sector is attracting increased attention from major investors, who see the sector as offering less rental growth volatility and a recession-resistant hedge to conventional apartments.

Durst Organization Acquires Delaware River Waterfront Properties from Brandywine Realty

The Durst Organization on Monday announced its first acquisition outside of New York, purchasing approximately five acres of waterfront property in Philadelphia from Brandywine Realty Trust.

CNBC

Love is the Greatest Predictor of Business Success

Caring about your team and your customers will pay off.

Here are the Nation’s Healthiest – and Unhealthiest – Housing Markets

Housing is in high demand in most of the nation, but the housing recovery is becoming increasingly uneven, depending on location.

The Guardian

Facial Recognition Database Used by FBI is Out of Control

Approximately half of adult Americans’ photographs are stored in facial recognition databases that can be accessed by the FBI, without their knowledge or consent, in the hunt for suspected criminals. About 80% of photos in the FBI’s network are non-criminal entries, including pictures from driver’s licenses and passports.

NYTimes

A Real Estate Boom, Powered by Pot

The legalization of marijuana is upending the market for warehouses and retail stores, as companies pay a premium for places to grow and sell it.

No Deal Between Kushners and Chinese Company Over Fifth Avenue Skyscraper

A $4-billion deal to invest in a Manhattan building owned by the family of Trump’s son-in-law has fallen apart.

How Uber Uses Psychological Tricks to Push Its Drivers’ Buttons

The secretive ride-hailing giant Uber rarely discusses internal matters in public.  But in March, facing crises on multiple fronts top officials convened a call for reporters to insist that Uber was changing its culture and would no longer tolerate “brilliant jerks.”

WSJ

Telecom Giants Get the OK to Mine Your Web History

Congress has voted to overturn Obama-era internet privacy rules. Now the path is clear for telecom giants like Verizon and AT&T to build detailed profiles of their customers’ behavior and sell that information to marketers.

WEEK: March 27th, 2017
Biz Journals

Where are Americans Moving? Here are the Fastest Growing – and Shrinking – Cities in the US

Eleven major metropolitan areas, led by the Texas duo of Houston and Dallas-Fort Worth, are growing at a pace of more than 1,000 persons per week, based on population estimates issued this morning by the U.S. Census Bureau. The federal agency released July 2016 estimates for 382 metros and 3,142 counties across the nation.

Paradigm Pitches New Residential Tower for Alexandria’s Eisenhower East

Paradigm Development Co. is seeking to add to its portfolio in Alexandria’s Eisenhower East neighborhood. The developer has a design plan for Block 20 — a 3.5-acre parcel south of Eisenhower Avenue, east of the Eisenhower Metro Station and west of Mill Road — that includes two options: more than 500,000 square feet of residential and hotel or slightly less square footage for residential and office.

Bloomberg

Inside the Troubled Kushner Tower: Empty Offices and Mounting Debt

The Manhattan tower, 666 Fifth Avenue, co-owned by the family of Jared Kushner, President Donald Trump’s son-in-law, has been losing money for three years and faces increasing loan fees in 2017, which may explain why the family has been negotiating with Chinese insurance behemoth Anbang on new financing.

Boulder Camera

Boulder’s Flatiron Park Office Portfolio Sells for $170M to Crescent, Goldman Sachs, Lionstone

Twenty office buildings in east Boulder’s Flatiron Park have sold for $170 million to national investors Crescent Real Estate, joined by Goldman Sachs and Texas private equity firm Lionstone.

CoStar National News

$435 Billion of New Global Capital Targeting CRE

Amount of Global Institutional Capital Targeting Real Estate Declines for First Time Since 2011, Investors Still See US CRE as Having Room to Run.

Los Angeles Business Wire

Hudson Pacific Properties Announces Capital Plan for Office Campus in Northern California

Hudson Pacific Properties, Inc. (HPP) today announced it will be launching a significant capital plan to reposition its 471,580-square-foot Campus Center asset in Milpitas, California.

Reuters

Uncertain Fate of Obamacare Causes Some Hospitals to Halt Projects, Hiring

Uncertainty surrounding the Republican plan to replace Obamacare is forcing some U.S. hospitals to delay expansion plans, cut costs, or take on added risk to borrow money for capital investment projects, dealing an economic blow to these facilities and the towns they call home.

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WEEK: March 20, 2017
Biz Journals

Hines President and CEO: We Can’t Lose ‘The Secret Sauce’

Jeff Hines, president and CEO of one of the globe’s most prolific developers, isn’t one to brag. The soft-spoken co-owner of Houston-based Hines is a powerhouse force behind the firm, which is known for iconic Houston structures such as the JPMorgan Chase Tower, the Galleria mall and the Gerald D. Hines Waterwall Park.

Massive Downtown Raleigh Fire Destroys and Damages Multiple Buildings

A massive fire in downtown Raleigh that broke out after 10 p.m. Thursday looks to have completely destroyed the Metropolitan apartment project that was under construction on Jones Street.

Price Brothers Acquires a Second Plaza Office Tower

An affiliate of Overland Park-based Price Brothers closed Friday on the acquisition of the 10-story Valencia Place office tower on the Country Club Plaza.

Invest Atlanta Board OKs Master Plan for Underground Atlanta

The board of Atlanta’s economic development agency Thursday overwhelmingly approved a conceptual master plan for the redevelopment of Underground Atlanta opposed by downtown residents and business owners.

Oakland’s New Wave of 20 Towers is Rising

After nearly a decade of efforts, new towers are rising in Oakland.

Republic Properties Takes Case for Retaining the FCC to a Higher Court

Republic Properties Corp. has taken its plea to retain the Federal Communications Commission as an anchor tenant in Southwest D.C. to a higher level after the U.S. Court of Federal Claims dismissed its bid to block the agency’s move to NoMa.

Boston Properties Aims to Shed for Southwest D.C. Office Building

Boston Properties hopes to shed some valuable real estate in Southwest D.C. now that it has locked its anchor tenant into a long-term lease for the next 15 years.

Monday Properties Asks for More Time to Redevelop ‘Deep Throat’ Garage

The site where Washington Post reporter Bob Woodward met “Deep Throat” will stand in Rosslyn a little longer. MondayProperties, which plans to demolish and replace the aging office buildings at 1401 Wilson Blvd. and 1400 Key Blvd., has asked Arlington County to extend its approved site plan for three more years.

Medical Office Building to Break Ground in Fort Lauderdale

Cypress Creek Medical Pavilion is slated to break ground with 82,000 square feet of medical office space, including a new ambulatory surgery center. A joint venture between ANF Group and Axis Healthcare Partners will hold a ground breaking event on March 15 at 10 a.m. at 2122 West Cypress Creek Creek Road.

CoStar National News

Scion Group-Led JV Acquires Student Housing Portfolio for $1.6 Billion

A joint venture of Chicago-based student housing developer The Scion Group, Canada Pension Plan Investment Board (CPPIB) and Singapore wealth fund GIC have purchased three U.S. student housing portfolios for about $1.6 billion.

Reuters

China’s Anbang Denies Report of Kushners Property Investment

NEW YORK (Reuters) – China’s Anbang Insurance Group [ANBANG.UL] said it is not investing in a Manhattan office tower owned by the family of Jared Kushner, President Donald Trump’s son-in-law and senior adviser.

WSJ

Facebook Bans Use of User Data for Surveillance

Facebook said data about users cannot be used for surveillance, cracking down on a method police departments allegedly used to track protesters and activists.

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WEEK: March 13, 2017
Biz Journals

Gemini Rosemont Taps New CEO, Reveals Plans for 2017

Santa Fe-based Gemini Rosemont Realty LLC named Don Henry its new CEO this week.

Former Kilroy Bay Area Chief Named US CEO of Chinese Mega Developer

Mike Sanford, the former top Bay Area executive at Kilroy Realty Corp., has been named CEO of the U.S. division of Chinese megadeveloper CFLD International.

Chicago Firm Joins KC Coworking Rush with Purchase of Downtown Building

Another provider of coworking space has staked a large claim in downtown Kansas City.  Chicago-based Level Office bought the seven-floor Kessler Building at ‪1301 Oak St. and plans to renovate it for use as private offices and coworking space.

Bloomberg

A World Without Wi-Fi Looks Possible as Unlimited Plans Catch On

The Wi-Fi icon — a dot with radio waves radiating outward — glows on nearly every internet-connected device, from the iPhone to thermostats to TVs. But its starting to fade from the limelight.

Joe Rogers, Who Built Waffle House Chain with Grits, Dies at 97

Joe Rogers, who co-founded the Waffle House chain of U.S. roadside diners specializing in Southern-style breakfasts served 24-hours-a-day, has died. He was 97.

CoStar National News

Goldman Sachs Backing Blackstone’s $500 Million Remake of Willis Tower

Goldman Sachs & Co. is preparing to sell bonds backing Blackstone Group’s planned $500 million renovation of Chicago’s Willis Tower, one of the world’s tallest and most recognizable buildings.


NYT

An Artist Helps iTunes’ User Agreement Go Down Easy

A new Drawn and Quarterly graphic novel by the artist Robert Sikoryak adapts Apple’s legalese into a work invoking more than a century of comics.

Reuters

German Police Shut Shopping Mall Over Fears of Attack

ESSEN, Germany (Reuters) – German police sealed off and closed a shopping mall in the heart of the western city of Essen on Saturday.

The Verge

German Police Shut Shopping Mall Over Fears of Attack

A new study, published this week in the journal Archives of Sexual Behavior, shows that in the 1990s, Americans generally had sex from about 60 to 65 times a year; but by 2014, the average American had sex about 53 times a year.

WSJ

Short Sellers Target Mall REITs

Bearish bets on retail-focused real estate investment trusts have risen, reflecting short sellers’ belief that mall landlords will struggle.

Web Browsers, Not Apps, are Internet Gatekeepers for the ‘Next Billion’

The number of internet users world-wide has roughly doubled in the past eight years to around 3.5 billion. The people who have come aboard in the past few years are spending their time in something that was overshadowed long ago in developed countries by apps: the mobile web browser.

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WEEK: March 6, 2017
BizJournals

Acquisition of Parkway Put Cousins on Top in Buckhead

Cousins Properties Inc.’s acquisition of Parkway Properties Inc., resulting in Atlanta-based REIT Cousins becoming the biggest landlord in the glitzy Buckhead office market, is the Office Deal of the Year in the 2017 Best in Atlanta Real Estate Awards.

How Atlanta is Getting Younger, More Educated

Much is being written about the efforts of cities to attract the young and educated. Compared with its peers, Atlanta is winning that contest, according to recently compiled data from Heidi Learner, chief economist with the commercial real estate services firm Savills Studley.

Northwood Investors Closes on Its Billion-Dollar Ballantyne Deal

Charlotte’s billion-dollar real estate deal has closed. Northwood Investors, a real estate investment firm with offices in Denver, Los Angeles and New York, has acquired multiple buildings and land in Ballantyne from The Bissell Cos., which has developed, leased and managed a majority of the master-planned community since it first broke ground in the 1990s.

Kilroy’s Tracy Murphy Will Focus on Seattle Biotechnology

Tracy Murphy, Kilroy Realty Corp.’s new executive vice president of life science and Northern California, sees opportunities for the developer to attract more biotech and medical tenants.

Doug Jemal Has a Change of Heart, Seeks Tenants for One Seneca Tower

Doug Jemal has a had a change of heart when it comes to the One Seneca Tower. But, in a good way.

CoStar National News

Forest City Signs Non-Binding Letters to Sell Stakes in About $2 Billion in Properties

Following up on its announcement last August to review strategic options on up to 14 regional malls around the U.S. and 19 specialty shopping centers primarily located in New York City, Forest City Realty Trust Inc. announced this week that it had signed letters of intent for those properties.

CNBC

Apple Says Its New Office is the ‘World’s Largest Naturally Ventilated Building’

Some 12,000 employees will eventually work in Apple Park, Recode reports.


NYT

The Power of Music, Tapped in a Cubicle

Dr. Lesiuk’s research focuses on how music affects workplace performance.

WSJ

How California Utilities are Managing Excess Solar Power

The Golden State is ramping up renewable energy as it pledges to be a bulwark against the Trump administration’s pro-fossil fuel policies. But first it has to figure out what to do with all the excess power it generates.

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WEEK: February 27, 2017
BizJournals

A Year Later: First Potomac Reports Improved Outlook

There wasn’t anything flashy or over-ambitious about the playbook former college quarterback Bob Milkovich laid out roughly one year ago, less than four months after being named chief executive of First Potomac Realty Trust

First Potomac Sheds One Fair Oaks for Substantially Less than It Paid to Buy It

First Potomac Realty Trust has sold a Fairfax County office building for a fraction of the $60.25 million it paid for the property just six years ago during a buying spree that ultimately dragged down its balance sheet.

CoWorking by the Numbers

Co-working has really come into its own in the D.C. region, growing to the point of becoming a viable, stable option for office space.

Vornado Shelves Major Arlington Projects as it Prepares to Exit Washington Market

Vornado Realty Trust’s plan to add 933 units and retail to its RiverHouse apartments in Pentagon City has been shelved, joining a growing list of recently proposed projects the developer will no longer pursue as it prepares to exit the Washington market.

Huge Technology Village Proposed for Alpharetta

Developers proposing a 63-acre technology village of mid-rise brick buildings, street-level retail, bike paths and walking trails along Georgia 400 are preparing for a key vote before the Alpharetta Planning Commission.

JBG Taps CBRE to Seek Buyers for Alexandra’s Beauregard Development

The JBG Cos.’ planned Beauregard community overhaul in Alexandria is the latest in a string of Greater Washington projects to be put on the block as the Chevy Chase developer prepares to merge with Vornado Realty Trust’s D.C. business to form the publicly traded JBG Smith Properties.

Hines Reveals Renderings, Plans for Its Development Near the Town Center

The planned mixed-use property under development near the St. Johns Town Center by the global real estate company Hines will be called Southside Quarter, Hines told the Jacksonville Business Journal.

Bloomberg

Everybody Burns Out Eventually. Here’s How You Can Fight It

Do you suffer from exhaustion, cynicism, and inefficiency at work? Does the idea of getting up and going into the office fill you with dread? You might be suffering from burnout.

CoStar National News

NAIOP Chapter Comes Out in Support of NC ‘Bathroom Bill’ Repeal Compromise

Stung by the loss of what it describes as dozens of economic development opportunities that have directly impacted North Carolina’s commercial property industry, a major CRE trade group has thrown its support behind a compromise bill that would repeal HB2, the state’s so-called “bathroom bill.”

Beacon Hits Jackpot; Brings in GIC as Investment Partner in $1 Billion DC Office Portfolio

In a stunning development, Beacon Capital Partners has arranged to sell more than 2.1 million square feet of office properties in the Washington D.C. metro with an aggregate value of more than $1.05 billion to GIC, Singapore’s sovereign wealth fund.

REITS Expected to Keep Selling Properties to Fund Development Pipelines

The nation’s publicly traded REITs are projecting to remain net sellers again this year with current disposition plans calling for the sale of more than $15 billion in properties.

Mack-Call Puts Large Office Portfolio Under Contract in Pivot to Closer in NYC Suburban Markets

Moving to divest its office holdings in southern and central New Jersey, Mack-Cali Realty Corp. (NYSE: CLI) has contracted to acquire more than 1 million square feet of space in the closer-in northern suburbs of the Garden State.

CNBC

Apple Says Its New Office is the ‘World’s Largest Naturally Ventilated Building’

Some 12,000 employees will eventually work in Apple Park, Recode reports.

WSJ

Mall Landlords’ Next Act: Apartments and Concerts

As they sell noncore assets, mall landlords are dipping their toes into luxury residential buildings, organizing events and investing in new technologies to engage with consumers.

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WEEK: February 6, 2017
BizJournals

Is Kilroy Realty About to Land the Biggest Lease in San Francisco History?

Developer Kilroy Realty Corp. said it’s in talks with a single tenant to lease its entire 740,000-square-foot Exchange project in Mission Bay in potentially San Francisco’s biggest office lease ever.

Barker Pacific Picks Up Another Roseville Office Property

Los Angeles-based Barker Pacific Group has acquired another Roseville office property, this time the Olympus Corporate Center.

One Oxford Centre Getting $50M in Renovations

San Francisco-based Shorenstein Properties LLC is preparing to begin exterior renovations on One Oxford Centre as part of its $50 million in upgrades to the downtown office tower.

Douglas Emmett to Complete $120M Apartment Expansion Project in 2018

Douglas Emmett Inc., the owner of one of the largest office complexes in Downtown Honolulu, plans to complete construction on its nearly 500-unit expansion of the Moanalua Hillside Apartments in Honolulu by late 2018, according to public documents.

San Francisco Orders Developers to Add Features with Aim Toward Reducing Auto Traffic

San Francisco’s new approach to coaxing developers to add more alternative-transport perks than ever before could serve as a data-driven model for cities all over the world who struggle with traffic congestion.

Avison Young: Office Rental Rates in Raleigh-Durham Area Reaching New Heights

Avison Young Managing Partner John Linderman, standing before a crowd of close to 500 people at his company’s annual commercial real estate forecast event in Durham on Feb. 8, was glowing in his review of the Triangle’s commercial real estate markets in 2016 and even more optimistic about prospects for 2017.

Loudermilk Breaks Ground on Buckhead Office Building

An Atlanta real estate company is starting construction on a nine-story medical office building, the latest project rising in the Buckhead Village.

Bloomberg

Top Canadian Industrial REIT Bets on E-Commerce and Pot

The country’s largest multi-tenant industrial landlord, which counts firms such as FedEx Corp. and Best Buy Co. among its customers, expects e-commerce to account for half of its portfolio in the next few years, up from 30 percent today, according to Chief Executive Officer Kevan Gorrie.

CoStar National News

Office Lease Up (February 6) Royal Bank of Canada Renews 400,000 SF Office Lease at Brookfield Place

Royal Bank of Canada (RBC) Capital Markets, the corporate and investment banking services arm of the multinational bank, has signed a lease renewal totaling approximately 400,000 square feet in the American Express Tower at 200 Vesey St. in New York, NY.

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BGC Partners Files to Take NGKF Public

BGC Partners Inc. (NASDAQ: BGCP) will be the first to test the IPO market this year for a major commercial real estate firm after it submitted a confidential draft registration statement to the U.S. Securities and Exchange Commission to spin off Newmark Grubb Knight Frank (NGKF) as a separate public company.

CNBC

Apple Seeks Design Perfection at New ‘Spaceship’ Campus

Steve Jobs’ last work – Apple’s Cupertino headquarters – will be a fitting tribute: a futuristic campus. His last work – Apple Inc‘s sprawling new headquarters in Cupertino, California – will be a fitting tribute: a futuristic campus built with astonishing attention to detail.

NYT

New York 101: How New York City Gets Its Electricity

The sprawling, eccentric machine that first delivered power in Manhattan 135 years ago is undergoing a major transformation.

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WEEK: January 30, 2017
BizJournals

CBRE Predicts Charlotte Office Vacancy Rate to Remain Flat, Even With New Development

Despite millions of square feet of office space to come online this year in Charlotte, a market forecast report released by CBRE (NYSE: CBG) indicates office vacancy could remain flat.

Brandywine Realty Has Big Year With Sales, Sees Lease Up at FMC Tower

Brandywine Realty Trust ended its year selling $860 million in properties — handily exceeding its original target of unloading $450 million — and reaching a leasing milestone at FMC Tower, which is now 96 percent occupied.

Willis Tower Getting a Massive Makeover

Willis Tower (formerly Sears Tower), one of Chicago’s most famous skyscrapers, is in for an upgrade. Owner private equity firm Blackstone Group says it will invest $500 million in improvements in the iconic 43-year-old tower, one of the world’s tallest.

NY Firm Doubles Space and Doubles Down on Cool Factor Along Austin’s Congress Avenue

Professional consulting firm Gerson Lehrman Group Inc. is growing swiftly in Austin, doubling its space at ‪301 Congress Ave. from 42,000 square feet to 84,000 square feet.

Seattle Private Capital Firm Trades Uptown Dallas Building to Big REIT

A Seattle-based privately-held real estate investment firm has sold a high-profile office building in Uptown that juts out along Pearl Street near the recently completed $225 million McKinney & Olive “very sexy,” tower.

Buckhead Planners Search for Community’s ‘Soul’

“Rodeo Drive of the South?” “Beverly Hills of the East?” Buckhead, one of Atlanta’s wealthiest neighborhoods, is familiar with those labels. But, Denise Starling, who is leading an effort to update a more than 15-year-old master plan for Buckhead, said new ideas are emerging for such things as more greenspace and greater mobility.

$20 Million Office Building Coming to East End

Louisville-based McMahan Group LLC has begun construction of a 100,000-square-foot medical office building at Old Brownsboro Crossing and is negotiating with several potential tenants for the space.

In-N-Out Burger Closing on Land in Houston

In-N-Out Burger, an Irvine, California-based burger chain with a cult following, will soon close on land in Houston, CBRE’s Jazz Hamilton said.

Guinness is Building a US Brewery, Taproom in Southwest Baltimore County

Top o’the Tuesday morn: Guinness is coming to southwest Baltimore County. The company plans to build a midsize brewery modeled after one of the top tourist destinations in Ireland, the Guinness Open Gate Brewery in Dublin.

Bloomberg

Who Will Pay for San Francisco’s $750 Million Tilting Tower

The 58-story tower’s shine faded on May 10, 2016, when Agabian attended a homeowners association meeting and was informed that the building had sunk 16 inches into the earth and tilted over 15 inches at its tip and 2 inches at the base, according to suits filed by residents and the city of San Francisco.

CoStar National News

Banks Accelerate Branch Consolidation as Mobile Technology Takes Over

The news last week that Wells Fargo & Co. (NYSE:WFC) had disclosed plans to close 400 branches in the next two years signalled a new phase in a trend still gaining momentum as more bank customers use their phones and computers to make deposits, transfer funds and pay bills online.

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Office Lease Up (January 30) Slack Technologies Takes 230,000 SF at Foundry Square IV

Heitman has signed Slack Technologies to fill 230,000 square feet of office space at the Foundry Square IV building in downtown San Francisco set to be vacated by The Gymboree Corp.

WSJ

What’s So Great About Snapchat Anyway?

Here’s what grown-ups still struggling to find the appeal need to know, as Snapchat files for its IPO.

BizJournals

Shorenstein to Bring New Food Hall to One Oxford Center

Shorenstein Properties LLC has reached an agreement with a company called Eurest to bring a mix of restaurants and retailers to form what is being called Oxford Market, which the company describes as a “cutting edge” food market expected to open this summer.

Clarion Set for $24 Million Development Deal

New York real estate developer Clarion Partners LLC wrapped up a $2.4 million deal for what is reportedly a 29-acre parcel on National Turnpike in Louisville.

JBG Seeking Buyers for U Street Development – One That Could Fetch a Record Price

The JBG Cos. is seeking buyers for a nearly 130-unit residential development along the District’s U Street corridor, a high-end multifamily project that could potentially set a new record for per-unit deals.

Waterview Office Sale to Set Suburban DC Record

The Waterview office building in Rosslyn has a buyer in a deal that will set a record for single-building acquisition in the Washington suburbs, according to a report in Real Estate Alert.

Medical Office Building Planned for Woodbury’s CityPlace

The Davis Group and Elion Partners will build a 50,000-square-foot medical office building at the CityPlace development in Woodbury, the companies announced Wednesday.

35 Year-Old Note Hidden in Tower Sends a Seattle Landlord a Mission

The owners of the 800 Fifth office tower are on a quest to deliver a message of goodwill from a man who left a note for his family as he put the finishing touches on the Seattle high-rise more than three decades ago.

CoStar

CBRE Names New Top Managers for Three Major US Divisions

CBRE CEO for the Americas Jack Durburg announced leadership changes for three of the firm’s largest US divisions this week.

In Major Shake Up, Harvard’s $35.7 Billion Endowment to Spin Out Real Estate Investment Team

Harvard Management Co. (HMC), which manages Harvard University’s $35.7 billion endowment fund — the country’s largest endowment – announced a major investment shake up today in a letter to the Harvard community from N.P. (Narv) Narvekar, who took over as president and chief executive officer of Harvard Management Co. last month.

GIC, Paramount Form JV on $1.04 Billion Acquisition of 60 Wall Street

GIC, Singapore’s sovereign wealth fund, entered a 95/5 joint-venture partnership with Paramount Group, Inc. on the Deutsche Bank office building at ‪60 Wall St. in New York City in a transaction that valued the asset at $1.04 billion, or approximately $640 per square foot.

Vornado Moves Forward with Washington, DC Portfolio Spin-Off

Vornado Realty Trust (NYSE:VNO) announced that its subsidiary, JBG Smith Properties, has filed preliminary paperwork with the US Securities and Exchange Commission for the planned spin-off its Washington DC metropolitan area business into a new publicly traded REIT.

CNBC

Technology Investors are ‘Freaking Out’ About the New FCC Chair, VC Says

Ajit Pai is widely expected to roll back regulations and let the companies decide what to charge.

Engadget

Twitter Discloses Two Far-Reaching FBI Data Requests

Twitter is joining in the recent trend of tech companies disclosing FBI data requests after gag orders have lifted… and the news isn’t exactly comforting.

NYTimes

Yellow Cab, Long a Fixture of City Life, Is for Many a Thing of the Past

Facing growing competition from ride-hailing apps, taxis are struggling to remain relevant to a generation of digital-minded New Yorkers

Amazon to Add 100,000 Jobs as Bricks-and-Mortar Retail Crumbles

The announcement by the online giant reflects what an economist sees as an inevitable process in which new industries rise and replace old ones.

N.S.A. Gets More Latitude to Share Intercepted Communications

New rules relax longstanding limits on what the National Security Agency may do with the information gathered by its most powerful surveillance operations.

Reuters

Shootout at Texas Mall Leaves One Dead, Seven Wounded

A bystander to a botched robbery at a Texas jewelry store was killed on Sunday, before one of the two robbers involved shot and wounded six other people while fleeing, police said on Sunday.

The Verge

American Airlines Ditching In-Seat Video Screens in New 737 Aircraft

When American Airlines begins taking delivery of the new Boeing 737 MAX aircraft — the newest variant of the most popular commercial jet airliner in history — later this year, one thing will be missing when passengers climb on board: in-seat video screens.

WSJ

Suburban Offices Woo Millenials With Food, Fitness and Fun

Office property owners in New York’s suburbs are working to attract millennial workforces with amenities like restaurants, hiking trails, fitness clubs and natural lighting.

Mall Owners Rush to Get Out of the Mall Business

A surge in store closures is prompting some of the largest U.S. shopping-center owners to walk away from troubled locations rather than restructure their debts.

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WEEK: January 2, 2017
 BizJournals

DC’s Office Market Hits Void Not Seen Since 1992

D.C.’s office market has reached a low point not seen in nearly a quarter century, due to a confluence of factors including new construction and the lingering effects of a shrinking tenant base. The District’s vacancy rate closed out 2016 at 12.6 percent, according to year-end stats from CBRE Group Inc.

Theranos Headquarters is Sold

Kilroy Realty Corp. has acquired two adjacent buildings in Palo Alto’s Stanford Research Park, including the headquarters of the troubled biotech startup Theranos.

The Infamous Watergate Office Building Has a New Owner

The infamous Watergate office building tied to President Richard Nixon’s resignation has new owners, once again. Penzance Cos. and Greenfield Partners sold ‪2600 Virginia Ave. NW on Friday for a recorded price of about $75 million.

JBG Signs and Anchor Tenant for Its Long-Planned L’Enfant Office Buildings

The JBG Cos. finally has an anchor tenant for its new office building at ‪500 L’Enfant Plaza. More than a decade after the developer first announced plans for the building, it announced Tuesday that Urban Institute has signed for 121,000 square feet covering six floors.

CoStar

Retail Outlook: Shopping Center Owners Brace for More Downsizing as Space Rationalization Still in Early Stages

Even as holiday shoppers were hunting for bargains and exchanging gifts, news began leaking on the latest expected big store closures.

Foreign Investors Remain Bullish on US Real Estate Despite Increasing Caution

Reflecting a lack of suitable global alternatives and a proven track record of steady returns generated by US real estate, the latest annual survey of overseas investors by the Association of Foreign Investors in Real Estate (AFIRE) confirmed once again that the United States remains by far the world’s most popular destination for foreign real estate capital.

CNBC

Flu Season is Getting Worse, CDC Tells Americans

Every state is reporting influenza outbreaks, with the Northeast and Northwest among the hardest areas hit, according to the Centers for Disease Control and Prevention.

Fitbit Co-Founder Says UnitedHealthcare Will Pay Users Up to $1,500 to Use Fitbit

The partnered companies will use financial incentives to encourage people to use Fitbits, James Park says.

Richard Branson Shares 6 Mantras He Will Follow in 2017

“True success should be measured by how happy you are,” writes the Virgin Group founder.

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BizJournals

Part of Southwest D.C. Mixed-Use Project Slated for Foreclosure Sale

Lenders have moved to foreclose on the Portals I, part of Republic Properties Corp.’s $1 billion mixed-use development in Southwest D.C. leased to a mix of private and federal office tenants.

Foulger-Pratt to Finally Advance North Bethesda Mixed-Use Project

Foulger-Pratt is expected to break ground in 2017 on its East Village at North Bethesda Gateway, its entry into the evolving concept for White Flint as walkable mixed use.

Denver City Council Passes Energy Efficiency Rules for Commercial Buildings

The Denver City Council has unanimously approved new energy-efficiency regulations regarding the city’s commercial buildings.

Year in Review 2016: For JBG and Vornado, the Second Time Was the Charm

The JBG Cos. suffered one of its most public disappointments over the summer, when it was forced to call off its planned merger with New York REIT Inc. to form what would have become an $8.4 billion enterprise to be called JBG Realty Trust Inc.  And yet, fewer than three months later, JBG got engaged once again, this time with New York-based Vornado Realty Trust.

Cousins Properties Sells Miami Beach Office Building for $80M

Lincoln Place, an office building steps from Lincoln Road on South Beach in Miami Beach, Fla., was acquired by an affiliate of Nightingale Group for $80 million.

Brookfield Lands Two Tenants at Repositioned 2001 M

Brookfield Property Partners has landed a pair of tenants for 2001 M St. NW, its repositioning of an older office building that started speculatively in 2014 and delivered into a relatively sluggish office market.

Writer Square Sold for $96 Million to Kroenke Affiliate

Downtown Denver’s Writer Square, which includes a mix of office and retail space, has been sold for $96 million.

The Biggest Commercial Real Estate Sales of 2016

South Florida’s commercial real estate market saw more mega deals in 2016, with 20 transactions of $100 million or more.

How D.C.’s West End Stands to be Impacted by Obama’s Post-Presidency Office Plans

D.C.’s West End is certainly an office market in transition these days, with The Advisory Board Co. moving out for new space by Mount Vernon Triangle and The Aspen Institute and famed Japanese destination NoBu coming in, and now comes word that the latest marquee tenant to sign on is relocating from 1600 Pennsylvania Ave. NW.

Colorado Real Estate Firm Buys Memphis Office Complex for $48 Million

A Colorado-based company just made a $47.7 million investment in the Memphis, Tennessee, market.

Vornado: We’re Officially Done with Skyline

Vornado Realty Trust made it official Tuesday: It is done with Skyline. The New York-based trust announced that all Skyline-related assets ($237 million) and more importantly, its liabilities ($723 million), will be removed from Vornado’s balance sheet.

The Portland Real Estate Boom Echoed Throughout the Year, but What’s Next?

If real estate in Portland in 2016 seemed a lot like it did in 2015, that’s because, well, it was. Development and construction flourished, home values soared and lots of cool new offices helped house new workers that poured into the city.

CoStar

2016 Another Banner Year for Commercial Real Estate

For all its ups and downs, U.S. commercial real estate enjoyed another banner year in 2016, thanks in large part to the unprecedented run in multifamily rents and property values and the fact that the U.S. continues to be viewed as a ‘safe haven’ by global property investors.

Manulife US REIT Mulls Additional Office Building Acquisitions

Manulife US REIT which bills itself as the first pure-play US office REIT listed in Asia, intends to pursue additional office acquisitions in the US, according to a recent report posted on the Singapore Exchange.

NYTimes

Chaos Strikes More Than a Dozen Malls, Disrupting Post-Christmas Shopping

Many of the disturbances, which included fights and false reports of gunfire, were caused by feuding teenagers, local authorities said.

How to Get a Better Night’s Sleep

Most people know they need to eat right and exercise to be healthy. But what about sleep? We spend about one-third of our lives asleep, and sleep is essential to better health. But many of us are struggling with sleep.

Yoga for Everyone

It’s time to roll out your mat and discover the combination of physical and mental exercises that for thousands of years have hooked yoga practitioners around the globe.

Reuters

Yahoo Email Scan Shows U.S. Spy Push to Recast Constitutional Privacy

Yahoo Inc.’s secret scanning of customer emails at the behest of a U.S. spy agency is part of a growing push by officials to loosen constitutional protections Americans have against arbitrary governmental searches, according to legal documents and people briefed on closed court hearings.

WSJ

Tech That Will Change Your Life in 2017

WSJ’s Personal Tech columnists looks at what’s next for big tech advances, from AI and augmented reality to videogame consoles and the war on fake news.

Why 2016 Was a Watershed Year for Tech

As 2016 came to an end, five of the seven most valuable companies in the world—including the three most valuable—were technology companies.

Luxury Apartment Boom Looks Set to Fizzle

Landlords of upscale properties in cities across the U.S. are bracing for rough conditions in 2017, after a seven-year boom, that will likely force them to slash rents and offer deep concessions.

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BizJournals

Carr Properties to Make Another Big Acquisition in Downton DC

District-based developer Carr Properties has struck a deal to acquire a downtown D.C. office building for $150 million, the latest in a string of acquisitions with Israeli investment partner AlonyHetz Properties & Investments Ltd.

Hines Buys 1.2 m s.f. Class A Development in Phoenix, Looks Next at Sky Harbor

Houston-based Hines Interests has bought a 1.2 million-square-foot Class A industrial park in Phoenix. Hines bought the Southwest Industrial Center from Hillwood Property Trust. The deal involves 684,000-square-foot building and another 567,000-square-foot building.

JBG Sheds More Real Estate Ahead of Vornado Merger

The JBG Cos. has parted with another piece of its D.C. commercial real estate portfolio as it advances toward its planned merger with Vornado Realty Trust’s D.C. business unit.

CoStar Sues the Competitor It Bolstered with its LoopNet Merger

CoStar Group Inc. was required to make several concessions to avoid antitrust issues as part of its $860 million acquisition of LoopNet Inc. in 2012, and now it’s suing the chief beneficiary of those concessions for allegedly fueling its growth by republishing CoStar’s proprietary information without permission.

Bloomberg

New York Times to Sublease Office Space in Revenue Search

New York Times Co. will vacate and sublease at least eight floors of its headquarters building in Manhattan as the publisher seeks new sources of revenue amid a decline in print advertising.

CNBC

Net Neutrality Advocate Tom Wheeler Stepping Down as FCC Chairman

The departure of Tom Wheeler from the FCC paves the way for Trump to dismantle net neutrality.

Yahoo’s New Hack Affected 1 billion Users: Here’s What You Need to Know

After more than a billion Yahoo accounts were hacked, here’s our guide on what to do if you think you’ve been affected.

MGM National, the Potomac’s Own Version of Las Vegas

Within 15 minutes of opening for the first time, the MGM National Harbor was filled to capacity. Here’s what’s inside.

CoStar

No Surprise as Fed Raises Key Interest Rate, but Hike Still Sends Shiver Through REIT Sector

While commercial real estate analysts and investors have anticipated an increase in the Federal Reserve’s key short-term interest rate for several months, baked-in expectations failed to prevent a sell off of stocks in REITs and the broader market when Fed Chairman Janet Yellen finally announced a rate hike on Wednesday.

Engadget

2016s Biggest Privacy Threat: Your Phone

When it comes to handing malicious hackers’ intimate details about our lives, right now Yahoo is leading the pack as one of the worst threats to privacy in recent history.

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BizJournals

CEO Awards: Jeffrey Bayer, Bayer Properties

What’s the top factor that has allowed you to have a successful career?

CNBC

Amazon Says It Has Absolutely No Plans to Open 2,000 Stores

Amazon is refuting a story that said it has a fleet of bricks-and-mortar grocery stores in the works.

CoStar

Starwood Property Aims to Jump Into MOB Market With $838M Portfolio Purchase

Starwood Property Trust expects to close the $838 million purchase late this month or early January of a 38-building, 2.2 million-square-foot medical office building portfolio across 14 states as the mortgage REIT and net-leased property owner expands into the lucrative MOB sector.

Brookfield Lights the Lamp in Power Play to Net NHL in 160,000 SF at One Manhattan West

Brookfield Property Partners LP has signed a long-term lease with the National Hockey League (NHL) to locate its headquarters to the in-development One Manhattan West office tower at ‪400 W. 33rd St. in New York City.

Engadget

AT&T Will Finally Refund $88 Million in Unauthorized Charges

Thanks to some shady business dealings between AT&T and a pair of companies known for bloating customers’ cell phone bills, roughly 2.7 million current and former AT&T mobile subscribers are getting more than $88 million dollars in refunds.

NYTimes

Keep It Moving

A recent study suggests that a vigorous workout may do little to counter the negative effects of prolonged sitting, while walking frequently, in addition to exercising, does seem to help.

Books of The Times: ‘The Revenge of Analog’: See It. Feel It. Touch It. (Don’t Click)

David Sax asserts that analog isn’t going anywhere, but is, in fact, experiencing a bracing revival. And it’s not just a case of nostalgia.

Reuters

Polar Vortex Redux? U.S. Forecasters Say It Could Hit Next Week

CHICAGO (Reuters) – Forecasters are sending chills down some spines with a prediction that much of the northern half of the United States could see frigid weather next week similar to life-threatening lows the polar vortex brought to parts of the country in 2014.

Exclusive: New York City Train Tunnel Project Could Tie Up Traffic for Three Years

NEW YORK (Reuters) – Traffic jams could afflict New York City’s heavily traveled West Side Highway for three years as a multibillion-dollar train tunnel is built under the Hudson River, draft proposals obtained by Reuters show, feeding concern about an area already disrupted by massive real estate development.

ThyssenKrupp Secrets Stolen in ‘Massive’ Cyber Attack

FRANKFURT (Reuters) – Technical trade secrets were stolen from the steel production and manufacturing plant design divisions of ThyssenKrupp AG in cyber attacks earlier this year, the German company said on Thursday.

Sci Tech Today

Amazon Introduces Grocery Store without Lines

E-commerce giant Amazon is aiming to cut out the checkout lines at the grocery store, thanks to a new technology it’s calling Amazon Go. The new tech will allow customers to be charged for items they purchase as they walk out the door.

538

If Waffle House Is Closed, It’s Time To Panic

On a warm, cloudy morning in the first week of October, in an anonymous office park just outside Atlanta, operations analyst Matt Stark opened a computer program, ran through some data and looked thoughtfully at the results.

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BizJournals

How Technology is Impacting Real Estate Development

The looming adoption of self-driving vehicles is one of the biggest new technologies affecting real estate development, but not the only one.

New Building Design Code to Result in Greener, Pricier Buildings

A new commercial building code that took effect earlier this month is rewriting part of the rulebook for Houston-area builders and developers.

North San Jose TSMC Headquarters Changes Hands, Again

For the second time in less than two years, ownership of a 155,613 square-foot Class A office building in North San Jose has changed hands.

Latest Hines Trophy Tower to Feature New Technology, Amenities

Plans for 609 Main, a game-changing, Class A trophy tower underway in downtown Houston, have been brewing for nearly a decade. Houston-based Hines assembled tracts of land at Main Street and Capitol Street from various sellers in 2007.

Another Spec Tower to Rise in Denver Tech Center

A 12-story office tower has broken ground in the Denver Tech Center on a site that once was home to ‪Garcia’s Mexican Restaurant, starting a development that will add 185,000 square feet of space to the DTC.

Bloomberg

Tallest Skyscraper Planned for City of London Wins Approval

The 73-story building, which will include a public viewing gallery and restaurant at the top, as well as enough workspace for 10,000 people, was approved at a vote on Monday. The tower will be constructed by Aroland Holdings Ltd., a closely-held company based in Singapore.

CNBC

African Ant ‘Supercolony’ Poised to Invade the Planet

An Ethiopian ant species looks poised become a globally invasive species, disrupting ecosystems and human settlements.

Warren Buffett’s Reading Routine Could Make You Smarter

The Berkshire Hathaway CEO says books are the key to success, and studies agree.

NYT

Protecting Your Digital Life in 7 Easy Steps

There are more reasons than ever to understand how to protect your personal information. Major website hackings seem ever more frequent. Investigators believe that a set of top-secret National Security Agency hacking tools were offered to online bidders this summer.

On Technology: Is Social Media Disconnecting Us from the Big Picture?

We’ve heard about its power to help us empathize with others. But what if, instead, it’s just cocooning us with our friends?

Re/Code

Thanksgiving Online Shoppers Bought Twice as Much Through Phones as Through Tablets

Another reminder that if your mobile website stinks, you are handing sales to the competition.More than a quarter of online sales on Thanksgiving — 27 percent, to be exact — took place via mobile phones compared with 22 percent last year, according to Adobe, which tracks $7.50 of every $10 spent online.

The Verge

Hackers are Holding San Francisco’s Light-Rail System for Ransom

San Francisco Municipal Railway riders got an unexpected surprise this weekend after the system’s computerized fare systems were apparently hacked

WSJ

CBRE Global Investment Partners Buys Stake in $1.5 Billion Retail Portfolio

CBRE Global Investment Partners said it has invested about $450 million for a 45% stake in a portfolio of West Coast retail property, in a bid to tap into rising consumer spending in a region driven by technology-sector growth.

Family-Owned Manhattan Office Building Sold for $109 Million

Taconic Investment Partners and TH Real Estate partner on a deal to buy 817 Broadway in Midtown South.

Dear Tenant: Your Uber is Here

As urban real estate becomes ever-more expensive, some property developers are shrinking or killing their parking spaces and offering Uber subsidies and other incentives instead.

Who’s Working in the ‘Gig Economy’?

In the “gig economy,” workers run the gamut from independent contractors to moonlighters.

BizJournals

North San Jose Office Park Sells for Almost $100 Million

A privately held New York City-based real estate investment firm has acquired a North San Jose office park. According to county records, Westbrook Partners bought the 372,000-square-foot office park for $95 million from Brookfield Asset Management Inc., a publicly traded asset management company with headquarters in Toronto.

What Gemini Rosemont’s Been Up to Since Forming It’s New Venture

When Santa Fe-based Rosemont Realty partnered with a Hong Kong-based company to form a major new real estate venture, it immediately went into acquisition mode.

DC Brau to Expand, Triple It’s Brewing Capacity

D.C. Brau, the oldest modern brewery currently operating in the Washington, is poised to triple its brewing capacity in 2017. The brewer will expand into a 13,875-square-foot space adjacent to its Bladensburg Road NE facility, which is just over the Maryland line.

Tower Properties Buys Pair of OP Office Buildings for $33 Million

Tower Properties Inc., a Kansas City-based commercial real estate investment, development and management firm, has acquired two four-story office buildings in Overland Park.

Healthcare REIT Pays $30 Million for Building Near Duke Medical Center

An Arizona real estate investment trust that specializes in health care properties has acquired the seven-story Hock Plaza II office building across from Duke University Medical Center in Durham, as well as the property for the Duke Fertility Center in south Durham.

4 Ways Building Managers Can Trim Their Energy Bills

The familiar business world anecdote, “You can’t manage what you don’t measure,” also applies to commercial building energy consumption. It’s very common for energy bills to get paid without review or comparison to similar building stock.

CoStar

Hines REIT Sells Tallest Building in Sacramento for $175.5 Million

Hines Interests, LP has sold the 30-story, 508,402-square-foot Wells Fargo Center in downtown Sacramento to Starwood Capital Group for $175.5 million.

American Campus Communities Sells 19-Property Portfolio for $508 Million

Continuing to divest non-core assets, American Campus Communities, Inc. (NYSE: ACC) this week sold a portfolio of 19 student housing properties in nine states totaling 12,083 beds to Los Angeles-based Saban Real Estate for $508 million.

CNBC

First Winter Storm of the Year Kills Two

A large part of the United States has been plagued by its first heavy snow of the year.

Why This GOP Senator Drives for Uber

Nebraska’s Ben Sasse is in it to learn.

Warren Buffet’s Reading Routine Could Make You Smarter

The Berkshire Hathaway CEO says books are the key to success, and studies agree.

NYT

Quit Social Media. Your Career May Depend On It

If you’re serious about making an impact in the world, power down your smartphone, close your browser tabs, roll up your sleeves and get to work.

WSJ

Developers Eye Office to Warehouse Conversions

Property developers wouldn’t typically consider replacing an office building with a warehouse, but in parts of New York and New Jersey, a red-hot warehouse market driven by the rise of e-commerce has upended that.

Trouble Brewing in Commercial Real Estate

Defaults are rising in a key corner of the commercial real-estate debt market just as borrowing costs are set to jump, raising the likelihood of a slowdown of the $11 trillion U.S. commercial property sector in 2017.

BizJournals

Alexandria Closes the Biggest Real Estate Sale So Far This Year

Alexandria Real Estate Equities (NYSE: ARE) has closed on its $725 million acquisition of One Kendall Square in Cambridge, marking the year’s largest single-asset real-estate transaction.

How Will the Vornado – JBG Merger Affect the Companies’ Retail Space

When The JBG Cos. and Vornado Realty Trust (NYSE: VNO) announced the massive merger that will change the face of D.C. real estate, one question immediately came to my mind: What does this mean for the companies’ ample retail holdings?

CoStar

Hines REIT Completes $1.35 Billion Sale of Office Assets

Hines Real Estate Investment Trust Inc. said it completed the sale of seven West Coast office assets to a Blackstone affiliate for $1.162 billion and the sale of another office property in Bellevue, WA to an affiliate of AEW Capital Management for $193 million.

Clarion Divests Greenwich, CT Office Park

Clarion Partners, on behalf of a separate account client managed by the firm, has sold the eight-building Greenwich Office Park in Greenwich, CT for $130 million, or about $344 per square foot, to Fareri Associates.

Global Holdings Pays $565M for 1250 Broadway

Global Holdings Management Group (US), Inc. has acquired the New York City skyscraper at 1250 Broadway from Jamestown LP for $565 million, or about $786 per square foot.

NYT

Breathe, Exhale, Repeat: The Benefits of Controlled Breathing

Controlled breathing, an ancient practice, can reduce stress and soothe your body.

BizJournals

Boyle Reveals First Glimpse of Major Cool Springs Development

The developers tag-teaming a $270 million development on one of the largest undeveloped properties in Cool Springs are embarking on the first quarter of that project.

Left Signs Historic Agreement with Irvine Company to Service Santa Clara Square

Getting to and from work just got a little easier for employees at Santa Clara Square.

Hines Moves for First Oakland Development in MacArthur BART Transit Village

Another big-name developer, Houston-based global real estate firm Hines, is looking to Oaklan’s MacArthur BART Transit Village for its first development in the city, a mixed-use transit oriented project near the city’s trendy Temescal neighborhood.

Bloomberg

Londons City Airport Evacuated After Chemical Incident

London City Airport was evacuated and ambulances treated people who were feeling unwell after a chemical incident.

Taubman Climbs After Activist Asks Company to Consider a Sale

Taubman Centers Inc. surged after Jonathan Litt, an activist investor known for targeting real estate companies, pushed for the mall owner to cut costs or consider a sale of the company.

BuzzFeed News

‘Hyperpartisan Facebook Pages are Publishing False and Misleading Information at an Alarming Rate’

I now think Facebook is contributing to the decline of western civilization – by helping spread misinformation.  We replied civil society with self-electing, self-reinforcing loops of affinity feeding our brains with social validation of dangerous untruth.

CoStar

Beacon Acquires 52-Story AMA Plaza in Chicago for $467.5 Million

Beacon Capital Partners has acquired the 52-story, AMA Plaza at 330 N. Wabash Ave. in downtown Chicago from a joint venture of Riverview Realty Partners and its parent company, Five Mile Capital Partners LLC, for $467.5 million, or $409.46 per square foot.

ULI Sees Pace of CRE Dealmaking, Prices to Moderate Through 2018

After six consecutive years of growth, commercial real estate transaction activity is expected to moderate next year, with lower but still relatively high transaction volumes, but better-than-average operating fundamentals in most property types resulting in continued but slower growth in property prices and rental rates, according to the latest three-year survey of analyst sentiment released by the Urban Land Institute (ULI).

New REIT Planning to Roll Up Medical Marijuana Facilities

The team at Innovative Industrial Properties Inc. contends there is serious money to be made acquiring industrial properties sanctioned to operate as medical cannabis facilities and leasing them back to licensed operators, and they plan to be among the first to bring the concept to market.

NYT

Hackers Used New Weapons to Disrupt Major Websites Across US

SAN FRANCISCO – Major websites were inaccessible to people across wide swaths of the United States Friday after a company that  manages crucial arts of the internet’s infrastructure said it was under attack.

Bottled Water or Tap: How Much Does Your Choice Matter?

What’s your daily plastic habit doing to the planet? Take the quiz and find out.

Reuters

Washington State ‘Grossly’ Unprepared for Major Quake: Report

Washington state is grossly unprepared for a large earthquake and tsunami that may strike in the coming decades, putting it at risk for a humanitarian disaster, the Seattle Times reported on Sunday, citing a draft government report.

US Mail Investors Set to Lose Billions as Retail Gloom Deepens

The dramatic shift to online shopping that has crushed US department stores in recent years now threatens the investors who a decade ago funded the vast expanse of brick and mortar emporiums that many Americans no longer visit.

WSJ

Major League Baseball Expected to Move Headquarters to Midtown

Major League Baseball is expected to sign a large lease as early as Thursday to consolidate its Manhattan operations at the former Time & Life Building, according to people familiar with the deal.

Venture Capitalists Hunt for Next Big Technology

Venture capitalists are always chasing the next big thing. Lately, they are struggling to figure out what that might be, spreading their bets across technologies for which the path to profit is unclear.

Irish Whiskey Barrels Ahead

Irish Whiskey is making a comeback, with 16 distilleries in Ireland and Northern Ireland, up from four just three years ago. The rising demand has turned Irish whiskey into the world’s fastest-growing major spirit.

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BizJournals

Global Medical REIT Acquires Nearly $31 Million in New Buildings

Bethesda-based Global Medical REIT, a health care facilities real estate investment trust, has acquired $30.9 million in properties — its largest spending spree since going public in July, officials said this week.

Atlanta Ranks 5th in CBRE Green Building Survey

Atlanta ranks fifth in the development and construction of green buildings among the 30 largest U.S. markets.

Lake George Resort Expands With Acquisition

The owners of Twin Birches Cottages in Lake George, New York have acquired a neighboring estate for $950,000. James Rose, who operates the 22-acre resort on Lake Shore Drive, purchased a 6-acre estate from the daughters of the late Robert and Frances Rea Grant.

M & J Willow Buys Former Ansys Headquarters

Chicago-based M&J Wilkow Ltd. is extending its investment in the Pittsburgh market to Southpointe.

CoStar

Medical Office Property Sales Stay Healthy as Investment Demand Outpaces New Supply

This week’s off-market purchase by Healthcare Realty Trust of a 103,500-square-foot medical office building on the campus of Inova Loudoun Hospital in Leesburg, VA, is the latest example of the fever-pitch competition among buyers for a limited supply of institutional-grade MOB properties available for sale.

JV Sells Three-Bldg Torrey Ridge Science Center in San Diego

Walton Street Capital LLC and SteelWave, Inc. have sold the Torrey Ridge Science Center, a three-building life science campus at ‪10578-10628 Science Center Dr. in San Diego, CA

Blackstone Sells SeaRise Office Tower in Santa Monica

Santa Monica, CA-based REIT Douglass Emmett, Inc. and sovereign wealth fund Qatar Investment Authority have acquired the SeaRise Office Tower at ‪233 Wilshire Blvd. in Santa Monica for $139.5 million, or about $1,082 per square foot, from The Blackstone Group LP, free and clear of existing debt.

Dubai’s Safanad Establishes $1.3 Billion U.S. Suburban Office Investment Platform

Safanad Ltd., a Dubai-based global investment firm, in a strategic partnership with Workspace Property Trust, a real estate investment firm led by CRE veterans Thomas Rizk and Roger Thomas, and Square Mile Capital, a diversified real estate investment firm, completed their acquisition of 108 buildings and 26.7 acres of land, in five markets from Liberty Property Trust (NYSE: LPT) for $969 million.

CNBC

Americans Report ‘Significant Stress’

American Psychological Association survey shows that Americans are stressed because of the 2016 elections, reports Vox.

New Numbers Show Growth of ‘Gig Economy’

A report from the Brookings Institution models a new way to measure the gig economy, using a little-known government stat.

Engadget

Drones Are Delivering Blood to Hospitals in Rwanda

In Rwanda, transporting critical medicine and blood can be difficult if the patient is in a remote location. Heavy downpours can wash out the roads, and local hospitals are often too small to stock everything their doctors might need.

NYT

Facebook Helped Drive a Voter Registration Surge, Election Officials Say

A 17-word reminder displayed for four days in September contributed to substantial increases in online registration across the country.

Police Use Surveillance Tool to Scan Social Media ACLU Says

Geofeedia, a company in Chicago, has used data from Facebook, Twitter and several other networks to aid law enforcement officials in monitoring protesters, the A.C.L.U. says.

Reuters

North Carolina Estimates $1.5 Billion in Hurricane Damage to Buildings

North Carolina emergency officials have estimated that the destructive and deadly Hurricane Matthew caused $1.5 billion worth of damage to more than 100,000 homes, businesses and government buildings in the state.

WSJ

Why Twitter Actually is a Media Company

Keywords: Twitter is a media company that happens to be based in San Francisco, and it should be structured, led and valued as such. It is no longer a technology-driven hypergrowth unicorn, writes Christopher Mims.

Health-Care REITs Back Off Nursing

Some big real-estate investment trusts that focus on health care are starting to pare their skilled-nursing holdings.

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BizJournals

Real Estate and Sailing Pioneer John Kilroy Dies

Local commercial real estate pioneer and Sailing Hall of Fame member John Kilroy Sr. died Sept. 29 at the age of 94. Kilroy, known as Jim, started in real estate in 1947 “with $100 in his pocket,” and in 1952 he established the predecessor for Kilroy Realty Corporation, which today has a market value of more than $6 billion.

Investor to Buy Rookwood Commons, Pavilion for $190 Million

An out-of-town buyers with a large and longtime Cincinnati presence has Rockwood Commons and Rockwood Pavilion under contract. An affiliate of Hines LP is under contract to purchase Rockwood Commons and Rockwood Pavilion.

Cousins Closes on Parkway Properties Merger

Cousins Properties Inc. (NYSE: CUZ) on Thursday closed on its $2 billion-plus merger deal with Parkway Properties Inc. (NYSE: PKY). Cousins announced in April it will buy Parkway in a $2 billion plus deal that allows Cousins to exit a Houston office market weakened by the downturn in oil prices.

Colorado Company Pays $81M for Seattle-Area Office Complex

Denver’s Miller Global Properties LLC has bought a suburban office property nearSeattle from Boston-based Beacon Capital Partners.

Atlanta Office Buildings Continue Seeing Historic Rent Growth

Atlanta’s office landlords continue to enjoy historic rent growth, according to newly released data.

Bloomberg

Real Estate and Sailing Pioneer John Kilroy Dies

Local commercial real estate pioneer and Sailing Hall of Fame member John KilroySr. died Sept 29 at the age of 94. Kilroy, known as Jim, started in real estate in 1947″with $100 in his pocket,” and in 1952 he established the predecessor forKilroy Realty Corporation, which today has a market value of more than $6 billion.

BizJournals

Atlanta’s Columbia Property Trust Sells New Jersey Office Building for $174.5M

Atlanta-based Columbia Property Trust Inc. (NYSE: CXP) said Monday it’s sold 80 Park Plaza, a Class A office property located in downtown Newark, N.J., to Nightingale Properties for $174.5 million.

Douglas Jemal Buying One Seneca Tower ‘Bodes Well for Downtown’

Buffalo Mayor Byron Brown couldn’t contain his enthusiasm. The mayor was ecstatic that Washington real estate investor Douglas Jemal has officially purchased the One Seneca Tower and an adjoining Washington Street parking ramp, paying slightly more than $12 million for the two downtown structures.

JBG Withdraws Plan to Replace Marriott Wardman Park, Will Put Hotel Up for Sale

The JBG Cos. has withdrawn its proposal to replace the Marriott Wardman Park hotel with nearly 1,300 residential units, telling Woodley Park residents that a master plan of the site will require a more in-depth process than it first envisioned.

Downtown Austin Office Prices Now Higher Than L.A., Chicago, Report Says

JLL recently presented its national Skyline Report that takes a deep look at downtown skylines across the U.S. and guess what? Austin is one of the most expensive markets in the country for leasing in trophy offices — with the most expensive properties in the CBD, especially the brand new ones.

College Campuses are Full – And So are EdR Properties

Memphis-based EdR (NYSE: EDR) is among the largest owners and managers of college student-focused housing in the nation and, with fall finally settling in and students flooding campuses, the company released its leasing results for the 2016-2017 term.

Cousins Properties Close to a Deal to Sell Iconic One Ninety One Peachtree Tower

Cousins Properties Inc. is close to a deal to sell its 50-story One Ninety One Peachtree tower in downtown Atlanta, one of the most recognizable buildings on the city’s skyline.

Bloomberg

Manhattan Tech District is Attracting Banks Wanting Closer Ties

A part of Manhattan dominated by technology companies — Google, Facebook, Twitter — is now drawing a more traditional New York industry: banking.

Alert System Faulted After New York Bombing Gets More Capability

Emergency officials were cleared Thursday to add web links to wireless alerts, bringing more capability to a system criticized after a New York bombing because it carries only text in an age of online photo and video sharing.

Cuomo Taps Developers for $1.6 Billion Moynihan Station Project

Emergency officials were cleared Thursday to add web links to wireless alerts, A development team made up of Related Cos, Vornado Realty LP and Skanska AB was chosen by New York state to finish a decades-long plan to turn a landmark Manhattan post office into a railway station with stores and offices.

CoStar

SL Green Secures $1.5 Billion Construction Loan, Paving Way for One Vanderbilt Super Skyscraper

SL Green Realty Trust (NYSE: SLG), New York City’s most prolific commercial property owner, has secured a $1.5 billion in construction financing for its proposed One Vanderbilt office tower.

Eater

Shake Shack Founder Danny Meyer Introducing Apple Watch to the Hospitality Industry

When Meyer’s 30-year-old Union Square Cafe reopens in Manhattan next month, every floor manager and sommelier will be wearing an Apple Watch.

NYT

US Tech Giants are Investing Billions to Keep Data in Europe

Companies like Amazon and Microsoft are building data centers across the Continent in response to Europeans’ desires to keep their information close to home.

Is New York Ready for Solar Power?

New York City’s solar boom has been prompted by recent drops in installation costs.

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BizJournals

Boston Properties Wants 888 Boylston to Be ‘The Most Sustainable Building in Boston’

In the grand scheme of Boston office buildings — particularly offices developed or owned by Boston Properties — 888 Boylston isn’t the tallest, or the biggest. But there’s one distinction that makes the 17-story, $275 million office and retail building stand out — it was designed and built to be “the most sustainable building in Boston.”

Nashville-based Real Estate Investor Prices IPO

Nashville-based MedEquities Realty Trust has priced shares for an initial public offering. Nashville Post reports that 19 million shares will be offered on the New York Stock Exchange at between $12 and $14.

Rubenstein Buys Large Complex in Atlanta

A Philadelphia real estate firm has made a big $265 million buy in Atlanta.

Real Estate Industry Sees Benefits, Changes from Technology Use

Technology is shaping commercial real estate in two ways: The way professionals work and the way workplaces are changing.

Developer Behind $240M Redo Names CBRE, Lincoln Property to the Team

The developer behind the more than $240 million redevelopment of The Drever— a 52-story, 1.3 million-square-foot tower — at 1401 Elm St. in downtown Dallas has hired a team of leasing and management executives to help fill up the long-vacant tower.

CU Denver Breaking Ground on $42 Million Wellness Center

The University of Colorado Denver is getting a new Wellness Center, complete with student lounges, spaces to study, “reflection” and gaming rooms, and a health clinic. Saunders Construction will break ground Thursday on the $42.4 million, 92,000-square-foot center, which will take the place of the Redwood parking lot at the intersection of Speer Boulevard and Auraria Parkway.

Bloomberg

MetLife, Norges Bank Venture Buys Washington Office Buildings

A joint venture of MetLife Inc. and Norges Bank Real Estate Management purchased the Constitution Square Three and Four office buildings in Washington, the second investment in the U.S. capital for the partnership.

Yahoo Says at Least 500 Million Accounts Breached in Attack

Yahoo! Inc. said the personal information of at least 500 million users was stolen in an attack on its accounts in 2014, exposing half of its roughly 1 billion users ahead of Verizon Communications Inc.s planned acquisition of the web portals assets.

CoStar

ULI Seeks to Rally Real Estate Industry on Climate Change Implications Following Major UN Agreement

As world leaders gather at the United Nations this week to ratify the Paris Agreement on climate change, a new paper released by the Urban Land Institute (ULI) argues that real estate owners and investors need to prepare for a host of market implications likely to be accelerated by the major climate change agreement.

CNBC

These Metro Economies are Booming

Most major U.S. metros are posting solid growth, but some smaller cities are getting left behind.

NYT

In San Francisco, a Sinking Skyscraper and a Deepening Dispute

A public scandal has raised doubts about whether skyscraper development has been properly monitored by building officials and city authorities.

Arnold Palmer, the Magnetic Face of Golf in the ’60s, Dies at 87

The golfer Arnold Palmer was one of the most celebrated and charismatic athletes of the 20th century. Arnold Palmer, the champion golfer whose full-bore style of play, dramatic tournament victories and magnetic personality inspired an American golf boom, attracted a following known as Arnie’s Army and made him one of the most popular athletes in the world, has died.

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BizJournals

Tenants Seek More Unique Office Space

Businesses wanting non-traditional, creative space catering to millennial-heavy workforces is keeping both landlord and tenant representatives busy in today’s Atlanta office market.

Beltline – A Glorified Sidewalk

The New York Times published a big story Sept. 11 about the Atlanta Beltline that, while largely positive, headlines the project as “A Glorified Sidewalk, and the Path to Transform Atlanta”.

Bloomberg

The Great Debate: Can Technology Transform the Economy Again?

Is the US economy stuck in secular stagnation? Or is it on the cusp of another golden era of growth and productivity gains?  It depends on whom you ask.

NFL’s Cleveland Browns are on a Cash-Making, Data-Mining Mission

For the past few years, the Browns have been compiling extensive, individual profiles of their fans.

Manhattan Renters Win as Peak Season for Leasing Fizzles Out

Manhattan’s traditional peak apartment-leasing season wrapped up in August with no rent growth for landlords, a sign that their ability to push up costs may wane further in the coming months.

More Offices Should Open the Door to Dogs

With a growing body of research suggesting that a dog-friendly office could have a real impact on employee well-being and productivity, it’s no wonder that more companies are welcoming furry friends into the workplace.

Moscow’s Skyscraper City is Way Behind Schedule

The three tallest skyscrapers in Europe have all opened since 2013 on a riverfront site 2.5 miles west of the Kremlin.

Nation’s Largest Destroyer Sets Sail to Join US Navy

The nation’s largest and most technologically sophisticated destroyer will join the Navy with a crew that’s the smallest of any destroyer built since the 1930s thanks to extensive automation.

Why GitHub Finally Abandoned Its Bossless Workplace

Two years ago, Chris Wanstrath gathered the employees of his software startup GitHub into a meeting to notify them of a major change: They were all getting bosses.

CoStar

Blackstone’s New non-Traded REIT Begins Selling Shares

Blackstone Real Estate has officially gone to market with shares for its newly launched and first-ever non-traded REIT — Blackstone Real Estate Income Trust Inc.

CNBC

Investors Moving Billions Into Real Estate Ahead of a Big Market Change

As of the close of trading Friday, the industry will become its own sector in the S&P 500, bringing the broad market index up to 11 divisions. The move primarily affects real estate investment trusts (REITs), moving 28 issues with nearly $600 billion in market cap out of the financial sector and into the new real estate heading.

15 Years After 9|11 Downtown Manhattan Has Risen from the Ashes

Lower Manhattan, the neighborhood that was home to the Twin Towers and which endured the brunt of the Sept. 11, 2001, terrorist attacks, has spent the last decade and a half in a state of healing and recovery. Today that process appears to be paying off.

ESPN Shanks NFL Opening Day Kick Off as Fantasy System Crashes

Fantasy football turned into something of a nightmare for some players on Sunday, as ESPN’s premier application faltered on the first day of the National Football League season, leaving millions of users in the dark.

Huge NFL Stadium Name Deals Can Actually Be Worth the Price – Sometimes

Research has shown that a sports team’s on-field performance can have a dramatic effect on the share price of a company with its name slapped on a venue, sometimes making up in market capitalization the entire cost of a multiyear stadium-naming deal.

NYT

1 World Trade Center Gains Popularity in the Pantheon of New York Kitsch

On postcards and other merchandise, the Manhattan skyscraper is approaching the ubiquity the twin towers used to have in popular depictions of the city.

A Glorified Sidewalk, and the Path to Transform Atlanta

Could this traffic-clogged Southern city, long derided as the epitome of suburban sprawl, really be discovering its walkable, bike-friendly, density-embracing, streetcar-riding, human-scale soul?

WSJ

Stretch of Chicago River to Get $1.5 Billion Makeover

High-rises, townhouse and a public river walk are planned for an undeveloped area south of Chicago’s downtown Loop in a project breaking ground Monday, adding to a frenzy of construction along the waterway.
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BizJournals

Applebee’s Sets Opening Date of First Hawaii Restaurant

Applebee’s is opening its first location in Hawaii Sept. 12 at Foodland- and Longs Drugs-anchored Ewa Town Center in West Oahu, the restaurant chain said. Pacific Business News broke the news that Applebee’s would be finally expanding to the Islands.

CNBC

Student Housing Ups Ante on Amenities

Residential developers are pouring money into the sector, upping the ante on amenities and seeing occupancy rise.

New Owner of Tribune Tower Will Decide the Chicago Landmark’s Fate

One of Chicago’s most iconic landmarks has a new owner. Tribune Media Co. announced late Tuesday that it had reached an agreement to sell Tribune Tower at 435 N. Michigan Avenue to the Los Angeles-based real estate investment firm CIM Group for $240 million.

What Gen Z Wants at Work

A new study by Monster.com shows what sets the young workers apart when it comes to finding a career.

Low-Flying Plane Sets Your Apt Rent

CoStar Group is using a reconnaissance plane to gather about twice as much construction data as its competitors.

‘Move On’ From Real Estate: Strategist

Real estate stocks will be grouped into their own sector after the market closes on Wednesday, but are they still worth a buy?

Re/code

Augmented Reality 101

Only recently has the technology advanced far enough to make AR portable and accessible to most people.

Reuters

Maine Governor’s Outbursts Tests Limits of Anger Politics

Years before Donald Trump dominated the news cycle with his angry style of politics, Maine Governor Paul LePage made headlines with a similarly brash approach.

WSJ – CRE

Reaching High Into the Western Sky

A new skyscraper in downtown Los Angeles has become the tallest building in the U.S. west of the Mississippi River.

Real-Estate Shares to Get Own Sector

On stock markets around the world, real-estate companies have been lumped into a category with banks and insurance firms since 1999. But property will break free from the financial sector on Thursday into its own dedicated group.

BizJournals

Mapping Metro Denver’s Building Boom

Nobody in Denver needs proof that there’s a commercial building boom going on in the Mile High City – all they have to do is look up. Construction cranes break the horizon almost everywhere we look, from Castle Rock to Thornton and beyond.

Cousins Properties and Parkway Properties Stockholders Approve Merger

Cousins Properties Inc. (NYSE: CUZ) and Orlando-based Parkway Properties Inc. (NYSE: PKY) said Tuesday that stockholders of both companies approved the companies’ previously announced merger.

CoStar

Duke Realty Sells Parkwood Crossing Office Park in Indianapolis for $163M

Investment manager Rubenstein Partners LP teamed with Indianapolis-based Strategic Capital Partners (SCP) to acquire the eight-building Parkwood Crossing office park in Indianapolis from Duke Realty for $162.9 million, or about $135 per square foot.

Forest City Realty to Consider Selling ‘Vast Majority’ of Retail Holdings

In its latest move to increase shareholder value, Forest City Realty Trust, Inc. (NYSE: FCE.A) will review strategic alternatives that could include the sale of its interest in up to 14 regional malls around the U.S. and 19 specialty shopping centers, primarily located in New York City.

WSJ

Developers Bet Big on Brooklyn Office Demand

An investment group has obtained the necessary financing to break ground on a $400 million office and industrial development in Williamsburg, marking the latest big bet on Brooklyn’s growing popularity as a workplace.

Rackspace to Go Private in $4.3 Billion Deal

Cloud-computing provider Rackspace Hosting is being taken private by private-equity firm Apollo Global Management for $4.3 billion.

BizJournals

JLL: Atlanta Office Rent Growth Third Highest Among U.S. Cities

Atlanta was always the city corporations relocated to when they wanted less expensive office space. While no one is suggesting this is turning into Manhattan or San Francisco, Atlanta office rents continue an impressive surge — up 13 percent year-over-year, the third largest increase among U.S. metros, according to commercial real estate services company Jones Lang LaSalle Inc.

Chicago Office Rents Increasing at Faster Rate Than 109 Other Global Cities

So how’s the Chicago office market faring these days? According to two new reports, it’s not setting the world on fire, but it’s not doing too badly either.

Hines Exec: Here’s How Much 609 Main’s Underfloor Air Vents Cost

Downtown’s 609 Main, a 48-story tower that topped out in June, has reached a major commitment threshold. The building is now 50 percent preleased, which includes 138,000 square feet that is still in lease negotiations and has not been announced yet.

How Drones Can Qualify as a Tax Deduction for the Construction Industry

Drone use is taking off in the construction industry and showing no signs of slowing down.

Bloomberg

New York REIT to Be Liquidated After Company Sells Off Assets

New York REIT Inc. said the company will be liquidated after it completes a plan to sell its assets and return the proceeds to shareholders.

Mid-America to Buy Post Properties to Form $17 Billion REIT

Mid-America Apartment Communities Inc. agreed to buy Post Properties Inc. forming a real estate investment trust thats expected to have a market capitalization of about $17 billion.

SL Green Settles Lawsuit Over Grand Central Terminal Air Rights

A lawsuit that had threatened to derail SL Green Realty Corp.’s construction of a skyscraper just west of New York’s Grand Central Terminal has been settled.

Duke of Westminster, the U.K.s Richest Person, Dies at 64

Gerald Cavendish Grosvenor, known as the Duke of Westminster, whose central London property holdings made him the U.K.s wealthiest native-born person, has died. He was 64.

Twitter Seeks to Sublease Part of San Francisco Headquarters

Twitter Inc. is offering about a quarter of the space at its San Francisco headquarters complex for sublease, adding to a growing amount of excess offices available in the city as the technology industry cools.

CoStar

Medical Office Enjoying Strong Lease-Up, Heightened Investor Demand

The growing shortage of medical office building properties has stimulated a wave of new development, with an estimated 12.2 million square feet of medical office space coming into service this year, 37% above 2015 deliveries.

Property Disposition Phase Coming to an End for Many Major REITS

Major equity REITs, which began the year in aggressive sales mode seeking to capitalize on strong investor interest in real estate and peak prices by selling more than twice the amount of properties they acquired, are now signalling this period of heightened disposition activity may be winding down.

NorthStar Realty in Process of Selling Nearly $3 Billion in Assets

As it prepares for a previously announced three-way merger with Colony Capital Inc. and NorthStar Asset Management Group Inc., NorthStar Realty Finance Corp. reported this week it is well on its way to disposing of nearly 20% of its portfolio of CRE investments.

Cushman & Wakefield Acquires Florida CRE Company

Cushman & Wakefield has acquired Taylor & Mathis of Florida, LLC, a commercial real estate company specializing in agency leasing and property management, adding 9 million square feet to Cushman’s property management operations across the state.

SL Green Recaps Eleven Madison Ave with PGIM Joint Venture

SL Green Realty Corp. (NYSE: SLG), New York City’s largest office landlord, has sold a 40% interest in the Metropolitan Life Insurance Plaza office tower at 11 Madison Ave. in New York, NY to PGIM Real Estate, the real estate investment arm of PGIM, Inc., the global asset management subsidiary of Prudential Financial, Inc.

Cushman & Wakefield Exec Announces Run for NYC Mayor

Cushman & Wakefield’s Paul J. Massey, co-founder and former CEO of Massey Knakal, announced he intends to file paperwork to run as a Republican candidate for mayor of New York City in 2017.

CNBC

15 Years After 9/11, Iconic NYC Mall to Reopen at Ground Zero

Nearly 15 years after the devastating Sept. 11 attacks, the World Trade Center mall will officially reopen Tuesday.

How Much Traffic Jams Cost You Annually

The average commuter wasted 42 hours and $966 snarled in traffic last year, a recent study finds.

Reuters

Reports of Gunfire Trigger Pandemonium at North Carolina Mall

Multiple reports of gunfire sent a crowded mall in Raleigh, North Carolina, into chaos on Saturday, and several people were injured trying to flee the shopping center, police said.

WSJ

Some Small Businesses Restore Group Health Coverage

Some small companies that dropped group health insurance for their employees are reversing course, driven by a tightening labor market and the rising cost of individual coverage.

WeWork Misses Mark on Some Lofty Targets

Six years after it was founded, WeWork has amassed a valuation of $16 billion, placing it among the world’s most valuable startups. But the shared-office-space company’s growth projections might not play out as expected.

Biz Journals

What’s Next for The JBG Cos.? Raising Lots of Money, That’s What.

The JBG Cos. might have scrapped its plans to go public through its merger with New York REIT Inc., but that has not halted its efforts to raise hundreds of millions of dollars through asset sales and private fundraising.

How the JBG-New York REIT Merger’s Break-Up Defied the Odds

When one company announces plans to acquire another, it’s by no means a given that the two will actually manage to become one given a host of variables.

Downtown Orlando Towers Sales Shows Off Market Vigor

A recent $167.8 million office complex purchase in downtown Orlando proves the local market is strong, experts said. Piedmont-CNL Towers Orlando Owner LLC, an entity related to Johns Creek, Ga.-based Piedmont Office Realty Trust Inc.

COPT Sells Suburban Philadelphia Corporate Campus for $143 Million

Corporate Office Properties Trust has sold a sprawling suburban Philadelphia corporate campus to a San Francisco buyer for $143 million. The 137-acre redeveloped property in Blue Bell, Pa., was once solely occupied by Unisys Corp.

Sinclair Makes Decision on WJLA Headquarters

Sinclair Broadcast Group Inc. has decided to remain in Rosslyn, concluding a search that included the prospect of moving across the Potomac River to the District or Maryland.

It’s Done: New York Investor Snaps Up Chase Tower in Downtown Dallas

After months of working the deal, New York-based Fortis Property Group LLC has acquired one of the tallest skyscrapers in downtown Dallas.

How a Tech Trend is Changing Local CRE

Birmingham has put a lot of focus in recent years on growing its technology scene and attracting millennial entrepreneurs, with hopes the Magic City will continue to be thought of as a draw for what is one of the biggest potential growth sectors of the economy.

NCR’s Midtown Atlanta Headquarters Campus to Expand

Financial tech giant NCR Corp. (NYSE: NCR) is gearing up for a new wave of expansion, just six months after announcing it would relocate its headquarters to midtown Atlanta.

Cousins-Integral Project Eyed for MARTA’s Arts Center Station

A big project could be brewing at Midtown’s Arts Center MARTA station.

A Slimmer First Potomac Realty Trust Turning Its Financial Tide, But Will it Be Enough?

First Potomac Realty Trust reported a bump in earnings for the second quarter of 2016, roughly six months after unveiling a new strategic plan meant to boost the balance sheet of the beleaguered real estate investment trust, but still has its work cut out for it.

Kilroy Realty Corp. Takes Sustainability Seriously, With a Green Office Vision That’s Evolving

Kilroy Realty Corp. takes sustainability seriously. The Los Angeles-based real estate investment trust has developed the two most environmentally friendly office buildings in San Francisco.

Boston Properties Exec Says D.C.’s Office Market Still Stuck in Neutral

D.C.’s office market still hasn’t turned that proverbial corner, despite some rising optimism to the contrary, according to one of the region’s top developers.

CoStar National News

Technology Behind Hugely Popular Pokémon Go Game Could Be Transformative for Buildings and CRE

With more than 75 million downloads since being introduced a month ago, Pokémon Go is a hot topic on traditional and social media news outlets and is seemingly in everybody’s hands.

Engadget

Siri Cheat Sheet Shows How You Can Talk to Your iPhone

Sure, iOS will give you a quick hint as to what you can ask Siri, but there’s a lot more the voice control system will recognize.

NPR

Philadelphia to Its Residents: Don’t Swim in Dumpsters

Another local note. From a public service announcement from the Philadelphia mayor’s office: In View of the City’s commitment to public health, safety and basic common sense, we will not issue permits for block party dumpster pools.

NY TIMES

Once Taunted by Steve Jobs, Companies Are Now Big Customers of Apple

Corporations are turning to Apple’s products for their tight-knit hardware and software, advanced security and intuitive interfaces.

The Innovation Campus: Building Better Ideas

Can architecture spur creativity? Universities are investing in big, high-tech buildings in the hope of evoking big, high-tech thinking.

Why Corporate America Is Leaving the Suburbs for the City

Companies including McDonald’s and General Electric are moving headquarters to cities like Boston and Chicago, partly as a lure to younger employees.

ReCode

A Giant Shopping Mall Company is Turning to 10 Startups to Breathe New Life into Retail

Westfield Corporation and R/GA launch a three-month startup accelerator today. Shopping malls have seen more popular days. But since the vast majority of retail purchases continue to take place in brick-and-mortar stores, there is still a lot of opportunity for innovation there.

WSJ.com

US Business:Rackspace Hosting Nears Sale to Private-Equity Firm

Rackspace Hosting Inc. is nearing a sale to a private-equity firm, two years after the cloud-computing company said it would explore a deal amid heightened competition in the fast-growing market.

London Loses ‘Most Expensive City’ Crown to New York

London has been knocked from its perch as the world’s most expensive city to live and work in after Britain’s vote to leave the EU.

Biz Journals


Kilroy Trades 1 Big Old Building For 2 New Ones in S. Lake Union

Already a huge amount of office space is under construction in Seattle’s Lake Union real estate submarket, and one company is moving toward starting another big project there.

$100M of New Medical Developments on Tap in Horizon West

Looks like new health care construction projects are on tap in Horizon West. At least according to Boyd Development Corp. President Scott Boyd, the man behind the $1 billion Hamlin community in Horizon West.

Bloomberg

Boston, New York Paying Up to Stay Cool in East Coast Heat Wave

Its a scorcher on the East Coast, and the Northeast is paying even more than neighboring Washington to stay cool.

CoStar

Hines Trades 12100 Wilshire to Douglas Emmett for $225 Million

Santa Monica, CA-based Douglas Emmett, Inc. (NYSE: DEI) has acquired a 19-story office building at 12100 Wilshire Blvd in the Brentwood submarket of Los Angeles from Hines for $225 million.

Internet Commerce Drives Strongest Surge in Demand for US Industrial Space Since 2001

Prologis, the world’s largest developer and owner of industrial real estate, reported the strongest six-month period in its company’s history in 2016 as moderate levels of new supply paired with a strong appetite by e-commerce and other companies created the tightest market for tenants since the first internet boom of the early 2000s.

CNBC


Food is Ruling Retail Real Estate

E-commerce may be driving consumers away from shopping centers, but food is pulling them back in.

REIT Rally Has Room to Run

In today’s market, real estate investment trusts are among the best places to invest, according to technician Rich Ross.

Work Where You Live, Live Where You Work

WeWork says its newest concept of community urban living — WeLive — may soon be even bigger than shared office space.

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Biz Journals

Suburban Markets Overshadowing D.C. for Investment Sales

Brookfield Property Partners recently closed on one of the largest commercial real estate deals in suburban Maryland this year, that being the first half of its $240 million portfolio acquisition from Washington Real Estate Investment Trust.

Penzance, Arlington Come to Terms Over Future of Western Rosslyn

Arlington County is forging ahead with the end of western Rosslyn as we know it. The county has a deal in place with Penzance, owner of 1555 Wilson Blvd. to lease both the existing Fire Station 10 and Rosslyn Highlands Park (1559 and 1579 Wilson, respectively) to the D.C.-based developer for a minimum of 75 years.

Cousins Properties Taps Colin Connolly as COO

Atlanta-based real estate investment trust Cousins Properties Inc. (NYSE: CUZ) promoted Colin Connolly to chief operating officer. Cousins said Connolly will still lead new investments, dispositions and asset management for the company.

Google, LinkedIn Strike Stunning ‘Grand Bargain’ for Property Swap in Mountain View, Sunnyvale

Putting aside years of fierce competition for scarce real estate in Mountain View, Google Inc. and LinkedIn Corp. have struck a “grand bargain” that redraws the map for each company’s presence in Silicon Valley, ending a stalemate that frustrated their development plans.

Bloomberg

WeWork Cut Forecasts as CEO Asked Employees to Change Spending Culture

WeWork Cos., one of the most valuable venture-backed private companies, cut forecasts earlier this year and told employees it has to change its “spending culture” to continue to thrive, according to a company document and video recordings obtained by Bloomberg.

CoStar

JLL-Managed REIT Returns To Office Investment with $122 Million Purchase

JLL Income Property Trust, a non-traded REIT managed by JLL’s LaSalle Investment Management, acquired Pioneer Tower, a 17-story, 296,329-square-foot, multi-tenant, Class A office building in the heart of Portland’s central business district.

Martin Out as CEO at HCP

Healthcare REIT HCP Inc. (NYSE: HCP) said on Monday that CEO Lauralee Martin has left the company and its board of directors. The REIT’s executive chairman Michael D. McKee has assumed the role of interim president and CEO.

CNBC

CNBC
How Erdogan turned to social media to put down coup

Social media may have prevented the coup in Turkey from succeeding, experts told CNBC.

NYC’s Ultra-Luxury Market Struggles

New York City’s ultraluxury real estate frenzy appears to have come to an end. NYT reports.

NYT

NYT
Retiring: For Effective Brain Fitness, Do More Than Play Simple Games

The theory of a more holistic approach is that the brain thrives on continuous stimulation, which can include exercising, laughing and socializing.

WSJ

WSJ’Pokémon Go’ Players Cash In

Exploding interest in “Pokémon Go” is tempting experienced players to cash in by selling their high-powered game accounts. Dozens of advertisements pitching the chance to start “Pokémon Go” at an advanced level can be found on bulletin-board services.

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Biz Journals

Houston-based REIT to Dissolve, Sell Assets

Houston-based Hines Real Estate Investment Trust Inc.’s board of directors has approved a plan to liquidate and dissolve the company, including a deal to sell seven West Coast office properties to Blackstone Real Estate Partners VIII for $1.16 billion.

Bayer Properties Plans to Buy 125 Acres Across from Summit for Major Project

Bayer Properties is working to purchase a 125-acre site across U.S. 280 from The Summit with eyes on a major development project. The Birmingham-based real estate firm, which developed and manages the transformative Summit project, has the massive site under contract.

Schnitzer West Buys Seattle High-Rise Next to Where It’s Building a New Tower

Seattle real estate company Schnitzer West and a global firm called Investcorp on Tuesday said they bought the 41-story office tower at 901 Fifth Ave., in downtown Seattle.

Alternate Slate Proposed to Block JBG-New York REIT Merger

The most vocal critic of New York REIT Inc.’s proposed merger with Chevy Chase, Maryland-based The JBG Cos. has submitted an alternate slate of directors to serve on the publicly traded investment trust’s board, with the stated goal of derailing the deal.

Bloomberg

SMU, Yale Trimmed Real Estate Investments Before Values Cooled

Large endowments including Southern Methodist University and Yale University reduced investments in real estate through the middle of last year before values cooled, a timely move that could help their performance.

Jones Lang, CBRE Fall as Brexit Bodes Pause for U.K. Real Estate

CBRE Group Inc. and Jones Lang LaSalle Inc., real estate services firms that do a significant share of their business in the U.K., fell more than 7 percent as investors speculated on a possible fall-off in property sales and leases after Britons voted to exit the EU.

NYCs Waldorf Astoria Said to Close in 2017 to Convert to Condos

New Yorks landmark Waldorf Astoria hotel is scheduled to close in spring 2017 so owner Anbang Insurance Group Co. can begin converting most of the more than 1,400 rooms to luxury condominiums, said a person with knowledge of the plans.

CNBC

How the UK’s Exit Benefits US REITs

U.S. REITs, and the real estate underlying them, are the power play for the anxious investor after Brexit.

Twill Jumps After IPO

The cloud software developer’s IPO marks the first US venture-backed tech IPO of 2016.

NYT

Why Tech Support Is (Purposely) Unbearable

Worse, just as you suspected, companies know the torture they are putting you through, with cable and mobile service providers the most egregious offenders.

NYT Magazine

First Words: The ‘Active Shooter’ Is Never Far Away

How the rampaging gunman became a defining feature of 21st-century American life.

WSJ

Rising Supply Pressures Urban Rental Boom

After a five-year boom in which rents have jumped by about 20% nationwide, some of the nation’s biggest cities—New York, San Francisco, Seattle and Boston among them—are beginning to see slower increases.

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Biz Journals

Ryan Cos. Plans 17-Story Office Building  Next to US Bank Stadium

Ryan Cos. US Inc. plans to build a 17-story office building in downtown Minneapolis on a sliver of land next to U.S. Bank Stadium. The $90 million project would be built on the “Block 1 Liner Parcel” at 728 Fourth St. S., Minnesota Sports Facilities Authority Chair Michele Kelm-Helgen said at MSFA meeting.

Another Jay Paul Office Campus Gets Sunnyvale’s OK in Moffatt Park

Sunnyvale’s city council gave the Jay Paul Co. the all-clear Tuesday for its next big office campus there. Call it Moffett Towers, the sequel. In a 5-1 vote, the council signed off on a package of land-use approvals for the 1.65-million-square-foot campus that would replace several decades-old structures constructed by Lockheed.

WSJ

Rudin Management’s New Firm Offers Tech to Run Buildings

Rudin Management has launched a company called Prescriptive Data that offers an operating system designed to be a building’s “brain.”

Employers Cut Down on Wellness Benefits

Employers are cooling toward certain wellness benefits for workers, a large study by the Society for Human Resource Management found.

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Biz Journals

Apple Leases Lead to Big Paydays for Value-Add Real Estate Investors

Stock investors might be uncertain about the prospects of Apple Inc., but for real estate investors the watchword is simple: Buy.

Houston doesn’t Need More Class A Apartments, Report Says

The Greater Houston Partnership is concerned about a glut of new Class A apartments in the Bayou City. Houston’s business chamber recently issued a sobering analysis about the city’s Class A apartment market during the oil slump.

Denver Tech Center Office Building Sold for $43 million

A 14-story office tower in the Denver Tech Center has been acquired by Florida-based Accesso Partners for $43 million, according to Denver County public records.


D.C. Councilman Jack Evans: Nats Park Revenue is a Homerun

D.C. Councilman Jack Evans says Nationals Park is bringing in so much revenue that the ballpark’s debt could be be paid off in 20 instead of 30 years.

In JBG Merger, Details Emerge About What’s Off the Table, On the Market

The JBG Cos. plans to withhold nearly three dozen properties, including the planned Central Place residential tower it’s building in Rosslyn, from its proposed merger with New York REIT.

Washington, D.C. Company Pays $77 million for Broward County Property

Washington, D.C.-based Clarion Partners paid $77.25 million for a four-building industrial park in Pompano Beach.

Monday Properties Taps Industry Vet As It Shifts Into Acquisition Mode

Monday Properties is on the hunt for new D.C.-area acquisitions for the first time in years — and it’s brought a real estate veteran on board to help with the effort.

First Potomac CEO Bob Milkovich Scores a Win with Storey Park Sale

Bob Milkovich has moved the chains a few more yards. The CEO of First Potomac Realty Trust — and former University of Maryland football quarterback replaced in the 1981 lineup by Boomer Esiason — announced plans to sell the Bethesda-based real estate investment trust’s Storey Park development site in NoMa for $54.5 million.

Bloomberg

WeWork Is Cutting About 7% of Staff

The $16 billion startup has also instituted a pause on hiring.

Apartment Owners Fall as NYC, San Francisco Rents Seen Softening

Apartment owners with properties in San Francisco and New York tumbled after landlord Equity Residential said new leases in those cities — two of the most expensive U.S. rental markets — are falling short of revenue expectations.

CoStar National News

Colony Capital, NorthStar Asset Management & NorthStar Realty Finance Agree To Merge

Colony Capital Inc., NorthStar Asset Management Group Inc., and NorthStar Realty Finance Corp. have agreed to merger creating an equity REIT with $58 billion of assets under management.

KBS Capital Puts More than $3.9 Billion in CRE Assets Up for Sale

KBS Capital Markets Group, the California-based distributor that has launched seven non-traded REITs since the onset of the Great Recession, just announced plans to test the market by offering to sell the current holdings in four of those REITs – a potential uber-liquidity event involving property and debt assets valued at more than $3.9 billion.

Reuters

BlackRock Agrees to Sell Singapore Office Tower to Qatar Fund for $2.5 billion

SINGAPORE (Reuters) – BlackRock Inc has agreed to sell a 43-storey office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion ($2.5 billion), in what the U.S. firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region.

NYT

Well: Yoga May Be Good for the Brain

A weekly routine of yoga and meditation may help to stave off aging-related mental decline, according to a study of older adults with memory problems.

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Biz Journals

Hines REIT Reportedly Hires Firm for Possible Sale of $5B Portfolio

Hines Global REIT Inc. reportedly hired Lazard Ltd. (NYSE: LAZ) to advise on a deal to sell assets in the real estate investment trust’s portfolio, according to a Bloomberg report from earlier this month.

Akridge Wants to Walk Away from Prime Capitol Riverfront Real Estate

Akridge is planning to sell one of its last development sites in the Capitol Riverfront district after shelving plans to build a 220,000-square-foot office building on the vacant land by First and K streets SE.


Drones in Construction Can Help, But Potentially Hurt Your Company

To drone or not to drone? That’s the question facing construction contractors these days, especially as the cost of drone hardware and software falls and the advantages of using unmanned aerial systems (UAS) on construction sites become more apparent.


CBRE Sells Downtown L.A. Headquarters for $330 million

CBRE Group Inc. has sold its corporate headquarters in downtown Los Angeles for about $330 million. The buyer of the 26-story building at 400 South Hope Street was a joint venture between Pittsburgh-based PNC Financial Services Group and Munich, Germany-based real estate fund manager GLL Real Estate, according to the Real Deal.


Hancock Center, Willis Tower Perhaps Nearing New Names

More than a year ago, published reports said one of the John Hancock Center’s owners was considering a semi-official name change for the iconic Chicago tower, achieved by erecting a new sign near the ground level as part of plaza-level redevelopment. But now, in a bid to raise funding for that work, that owner, Hearn Company, is seeking millions of dollars in naming rights for the tower.

CoStar National News

New York REIT to Combine with JBG Creating 8.4 Billion REIT  Focused on NYC and Washington DC

After a long search for a buyer and many rumors later, New York REIT Inc. agreed to combine with The JBG Cos., a privately held, Washington, DC-based developer, owner and real estate investment manager.

Growth in U.S. Property Prices Bounces Back After First Quarter Slowdown

Commercial property price growth picked up in April after a slower than expected first quarter, according to the latest CoStar Commercial Repeat sale Index (CCRSI) released this week. The two major CCRSI indices rebounded during the month as investors returned to the market and resumed sales activity after a pull-back at the beginning of the year. The value-weighted U.S. Composite Index  increased 0.9% and the equal-weighted U.S. Composite Index…

Sentiment at CRE’s Largest Trade Conference Reflects Optimism, Anxiety About Changes Sweeping Retail Business

CoStar reported from the floor of the year’s biggest retail real estate event this week, ICSC’s RECon 2016 at the Las Vegas Convention Center, where at least 37,000 retailers, retail brokers, investors and other purveyors of mass consumption gathered. And while the general mood was upbeat, RECon attendees expressed uncertainty and even anxiety over the scope of changes facing landlords, brokers and their retail tenants.

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Biz Journals

City Center, 33 South Sixth, For Sale, Again

The on-again, off-again sale of 33 South Sixth and City Center in downtown Minneapolis is on again. Multiple sources have confirmed to the Business Journal that Shorenstein Properties, owner of the 1.6-million square foot, 50-story office tower and retail center on Nicollet Mall in downtown Minneapolis, is again looking for a buyer.

Blackstone Selling 50 Percent Stake in Santa Monica Office Complex for $500 Million

Blackstone Group L.P. has agreed to sell its 50 percent interest in the Colorado Center office complex in Santa Monica to Boston Properties Inc. for about $500 million.

Metro Atlanta Chamber Moving to 191 Peachtree Tower

The Metro Atlanta Chamber will move from its own multi-story building on Centennial Olympic Park to the 34 th floor of the 191 Peachtree Tower by the end of the year.

Willard Retail Rises From the Ashes of JBGR

Regular readers of WBJ’s real estate coverage might have done a double take Friday when they read about the new College Park development being a partnership between, in part, Bozzuto Group and Willard Retail. What is Willard Retail?

A Regal Goodbye: Here’s How and Where JBG Plans to Kick Off North Potomac Yard Overhaul

The JBG Cos. on Monday unveiled a concept for the first phase of the North Potomac Yard overhaul, a plan to replace the existing multiplex and surrounding parking lots with 1.2 million square feet of mixed-use development.

Tishman Thinks Outside the Glass With Trophy Building at 21st and M Streets

Tishman Speyer plans to develop an 11-story trophy office building on what’s now CBS News’ D.C. bureau, but don’t expect to see your typical glass box emerge from the southeast corner of 21st and M streets NW.

Carr Sets Transformation of 15th and L Streets in Motion

Carr Properties ceremonially broke ground Thursday morning on the pile of rubble that was up until recently The Washington Post’s headquarters at 1100 15th St. NW with ambitions to bring life to a part of the District that tends to shut down after the close of normal business hours.

Allen Center’s Renovation Caters to Millennials, or ‘The Next Wave of Leaders’

Downtown Houston is about to get a lot greener. Brookfield Property Partners LP (NYSE: BPY) is launching a $48.5 million renovation of the Allen Center buildings this summer.

Vornado Realty Trust Refinances Expiring Debt on the Warner Building

Vornado Realty Trust has completed a $273 million refinancing on the Warner Building in downtown D.C., ahead of its Thursday expiration.

Why Would JBG Merge with New York REIT? It’s a Way to Go Public Without the IPO.

Since its founding 56 year ago, The JBG Cos. has had a laser-like focus on Greater Washington, resisting temptation to look beyond the national capital region for deals.

Boulder Email Technology Company Moving HQ to Downtown Denver Tower

Boulder-based email technology company SendGrid will relocate its Colorado employees into 52,000 square feet in the 1801 California tower in downtown Denver.

Bloomberg

Manhattan’s Latest Tower Heats Up Hudson Yards Race for Tenants

On Manhattans far west side, where developers are adding millions of square feet of offices in new skyscrapers, the robust competition for tenants is about to get another entrant.

CoStar National News

Report: Chinese Developers Could Pump $38 Billion Into U.S. Projects by 2020

China Vanke Co.’s reported investment in a proposed 43-story apartment tower just a few blocks from Amazon’s global Seattle headquarters underscores both the growing appetite and widening market search for U.S. assets by Chinese development companies.

Investor, Tenant Demand for Shopping Centers Holds Steady Despite Flattening Retail Sales Growth, Looming Store Closures

The U.S. retail real estate market recorded 11 million square feet of net absorption in the first quarter of 2016, causing the nation’s average vacancy rate to tick down to 6%, the lowest quarterly level since the Great Recession.

Student Housing Niche Earning Greater Degree of Acceptance from Major Investors

A trio of recent transactions demonstrates the growing clout of student housing among a wide range of investors ranging from private-equity funds and REITs to international pension funds and other institutional investors.

Engadget

Software Predicts the Lifespans of Machines by ‘Cloning’ Them

In some cases, machine breakdowns are more than just inconveniences — in the military, they can spell disaster on the battlefield. Software is quickly eliminating those rude surprises, however.

New York City Rolls Out Its First WiFi-Equipped Buses

When New York City promised that its WiFi-packing buses would arrive sometime in the second or third quarter of this year, it was clearly being cautious — the first wave of those buses is rolling out today.

NYT

Start-Ups Once Showered With Cash Now Have to Work for It

Instead of venture capitalists begging to invest in start-ups, entrepreneurs are begging for cash, and potential investors are making demands.

Square Feet: Miami Emerges From Gloom Into Residential and Commercial Sunlight

After decades in the shadow of glamorous Miami Beach, Miami is having a building boom that enhances its appeal to businesses and residents.

New York Today: New York Today: Rule-Bending Buildings

Monday: The 100-year-old zoning code, rumbling weather, and climbing the World Trade Center.

WSJ

E-Commerce Drives Surge in U.S. Warehouse Rental Prices

CBRE report says rates for prime space near big U.S. population centers soared 9.9% in 2015 as industrial capacity remained tight.

Taiwan: The World’s Geniuses of Garbage Disposal

How the island, with landfills not far from capacity, became one of the world-wide leaders in recycling.

Wearables at Work Pose Privacy Issues

What’s the best way for companies to handle data from employees’ wearable devices?

Why the Virtual-Reality Hype is About to Come Crashing Down

Makers of virtual-reality headsets think 2016 will be the year of VR. The experience “is radically different than any computing experience you’ve had before,” says Marc Metis, a vice president at HTC Corp., maker of the Vive headset.

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  1. Useful news

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