NEWS
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Deep-pocketed co-living company wants to make a splash in Austin
9/23/19A global co-living business is homing in on Austin as part of its big U.S. expansion. Germany-based Quarters plans to open in 2021 a five-story, 120-bedroom co-living facility at 1108 Nueces St. downtown, according to a Sept. 18 announcement — replacing a low-slung office building currently on the site. The... Read more
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IKEA is investing $2.8 billion in renewable energy infrastructure
9/23/19The world’s largest furniture company is determined to go off-grid, and it’s developing an affordable solar energy program to convince you to do the same. Timed for the UN Climate Action Summit in New York next week, IKEA’s holding company Ingka Group revealed that it has invested €2.5 billion ($2.76 billion) in... Read more
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Startups That Offer New Paths to Homeownership
9/23/19People with steady incomes but less-than-perfect credit are often shut out of buying homes because they can’t qualify for a mortgage. A San Francisco startup, Divvy Homes, says it has an answer: It buys homes on behalf of clients, then rents the homes to the consumers as part of a... Read more
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Clutter acquires The Storage Fox for $152M to add self-storage to its on-demand platform
9/23/19The world of on-demand storage has seen some ups and downs, with some of the biggest hopefuls pivoting into new areas, some as unrelated as cryptocurrency, in the search for better product-market fit. One that found its groove early on, however, is today announcing an acquisition to expand its existing business into a new... Read more
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Hudson Pacific Electricity Consumption Is Now All Carbon Neutral
9/23/19Hudson Pacific’s electricity consumption is now all carbon neutral. In a three-year partnership with Calpine Energy Solutions, the firm has acquired the environmental attributes associated with 577,000 megawatt-hours from Horse Hollow III Wind Farm, located in Wingate, Texas. The deal should offset Hudson’s greenhouse gas emissions by approximately 121,500 metric tons... Read more
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Compass opens West Coast tech hub 2 blocks from Amazon’s headquarters
9/23/19Compass, a real estate brokerage and tech company, opened an office in Seattle that’s two blocks from Amazon’s headquarters and a mile from Zillow’s main offices. New York-based Compass now has three floors of a new building at 503 Westlake Avenue that will eventually house over 100 engineers and 70 operations staff.... Read more
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Knotel Further Boosts Manhattan Footprint
9/23/19Knotel has increased its Manhattan presence by signing a lease with ATCO Properties & Management for 27,186 square feet at 240 W. 35th St. The coworking company will take up the building’s entire seventh, eighth and 18th floors by late fall. The Class A property encompasses 165,000 square feet across 18 stories. Knotel’s space... Read more
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Some WeWork Board Members Seek to Remove Adam Neumann as CEO
9/23/19A bloc of WeWork directors is planning to push Adam Neumann to step down as chief executive after a tumultuous week in which his eccentric behavior and drug use came to light, and the startup delayed its much-anticipated stock-market listing. A group including officials tied to SoftBank Group Corp. , the company’s largest investor, wants Mr.... Read more
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Thinking Beyond 'Buy Online Pick Up in Store'
9/20/19CHICAGO—At this point, the struggles of retailers are well known and they’re only increasing. Store closures could reach 12,000 by the end of 2019, according to Coresight Research. For retailers to survive, it helps for them to successfully integrate their digital experience with in-store shopping. But that takes something more... Read more
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Budget Season 2019: Data from Survey to 4,000 CRE Professionals
9/20/19Budgeting season is a notoriously stressful time of year for commercial real estate professionals. Things are changing though, and the way real estate companies are run is evolving as technology becomes an integral part of the business. The budget often reflects the priorities and objectives of a real estate business.... Read more
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