(Bloomberg) — A New York state plan to redevelop the neighborhood surrounding Penn Station would clear the way for more than 14 million square feet of new offices, a massive addition of space that would accelerate the shift of Manhattan’s core toward the West side. The project would use new construction on eight sites to […]
The latest stress test results from the Federal Reserve Board show that America’s biggest banks are facing up to $47.6 billion in losses from loans tied to commercial real estate, reported CoStar. The Real Estate Roundtable’s second quarter sentiment index registered a score of 38—down 14 points from the first quarter. These are among today’s […]
The COVID-19 pandemic has accelerated interest in smart building technologies, especially for tasks such as building access control, monitoring HVAC systems and tracking density within spaces. And such systems have the added bonus that they can be monitored and managed remotely, lowering the number of property management and facilities management professionals that need to be […]
(Bloomberg) — New York City will delay the return of indoor dining, which had been planned for July 6, as other states experience a spike in Covid-19 cases after reopening their restaurants and bars, Mayor Bill de Blasio said Wednesday. The decision was made with the state, he said. “It is not the time to […]
Pre-COVID-19, off-price retail chains were some of the hottest picks in the sector, reporting increasing same-store sales and boasting plans to grow brick-and-mortar footprints. Those companies were also greatly outperforming department stores and apparel retailers. Off-price chains were “riding the wave of the strength in the economy,” says Chris Weilminster, executive vice president and COO […]
The Counselors of Real Estate identified the top ten issues affecting the real estate industry. Thousands of hotels face foreclosure due to the coronavirus pandemic, reports the Houston Chronicle. These are among today’s must reads from around the commercial real estate industry.
The changes come after infectious-disease expert Anthony Fauci told a Senate panel Tuesday that the U.S. is “going in the wrong direction.”
Pre-COVID-19, off-price retail chains were some of the hottest picks in the sector, reporting increasing same-store sales and boasting plans to grow brick-and-mortar footprints. Those companies were also greatly outperforming department stores and apparel retailers. Off-price chains were “riding the wave of the strength in the economy,” says Chris Weilminster, executive vice president and COO […]
During his 41-year career in commercial real estate, Victor MacFarlane has witnessed five previous recessions, the end of the Cold War, the impeachment of two U.S. presidents, the rise of the internet, the 1992 race riots in Los Angeles, the 9/11 attacks and the election of America’s first Black president. But perhaps no time in […]
A study from Goldman Sachs showed that a national mandate requiring use of masks could help avoid a 5 percent hit to GDP, reported Business Insider. The pace of move-ins has slowed at seniors housing properties, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry. […]