Latest in Commercial Real Estate Tech News by CREtech

Is WeWork Going Through An Identity Crisis?

AllWork

10/26/2017

Amid continued doubts of the sustainability of its business model and following statements from its Finance Director that “WeWork doesn’t expect profitability this year”, the coworking giant went on a shopping spree using other people’s money, and bought none other than Lord & Taylor’s flagship store building in NYC’s Fifth Avenue — and for no shy amount. For the price of $850 million, the New York City landmark, spanning 676,000-square feet, will become WeWork’s new headquarters starting 20…

‘A technological revolution’ is tearing through retail

Business Insider – Finance

10/26/2017

Hours worked in UK retail fell by 4.2% in the third quarter, retail jobs shrunk by 3%. It's the steepest decline since the monitor began in 2008. 'A technological revolution in retail' and government policy driving the decline. LONDON — British retail employment suffered a record decline in the third quarter of 2017. Hours worked in UK retail fell by 4.2% compared with the same quarter a year ago, according to the British Retail Consortium (BRC). The decline is an acceleration fro…

WeWork taking over large LinkedIn lease in Mountain View

San Francisco Gate Business And Technology News

10/25/2017

WeWork, a shared-office space startup, has obtained more than 450,000 square feet in a Mountain View shopping center that is currently under construction. The New York company will take over a lease from LinkedIn at The Village at San Antonio Center, according to May Chow, a LinkedIn spokeswoman. The center — which is set to be completed in late 2017 — will also feature cafes, restaurants, a boutique hotel and a movie theater, according to its website. “LinkedIn has reassigned its lease at The V…

CBRE acquires San Francisco-based tech brokerage Custom Spaces

Real Estate Weekly

10/25/2017

CBRE Group has acquired Custom Spaces, a San Francisco-based, tech-focused boutique brokerage that advises technology companies such as Airbnb, Cruise Automation, Medium, Gusto and Coinbase, on occupancy strategies. Jenny Haeg, founder and CEO of Custom Spaces, will join CBRE as a vice chairman within its Advisory & Transaction Services business and will have a leadership role with CBRE’s global Technology Practice. The practice group consists of CBRE Advisory and Transaction Services profes…

Lord & Taylor deal with WeWork is a good way to use ‘less productive’ real estate

MarketWatch.com – Top Stories

10/25/2017

Hudson’s Bay Co.’s deal to sell Lord & Taylor’s flagship New York City store to WeWork in a transaction is a good way for the company to monetize its real estate, analysts say, but the company is facing other challenges. The deal, valued at $850 million, which involves the Fifth Avenue store Lord & Taylor has occupied since 1914, will continue to operate as a smaller store, but WeWork will use most of the 12-floor space for its headquarters and other office space. Lord & Taylor is pa…

How Tech is Changing Multifamily Lending

Multi-Housing News

10/25/2017

While tech has been transforming many industries, lending has been slow to adapt. Obtaining financing for real estate projects can be a long, invasive and cumbersome process, preventing would-be investors from entering the market. However, firms are finally bringing innovation to the market through tech and revolutionizing the lending business in the process. Multifamily Lending has Been Outdated and Inefficient for Years Despite the continually strong apartment market, investing in real estate …

SpotHero Welcomes Connie Capone as Chief Financial Officer

Business Wire Commercial Building & Real Estate News

10/25/2017

CHICAGO–(BUSINESS WIRE)–SpotHero, North America’s leading parking reservation service, announced today that Connie Capone has joined the company as Chief Financial Officer. The company’s first CFO, Capone brings wide-ranging and extensive experience in operational, consulting and financial roles, as well as in managing venture capital. Capone will oversee SpotHero’s financial functions as the company enters its next phase of growth. “We are thrilled to welcome Connie to SpotHero,” said Mark La…

Sternlicht Says Boston Has Good Shot at Landing Amazon for HQ2

Bloomberg

10/25/2017

Billionaire real estate investor Barry Sternlicht has some advice for Amazon.com Inc.: Take a good look at Boston for your second North American headquarters. Amazon is sorting through the 238 proposals it has received for the $5 billion project known as HQ2. Boston has "a pretty good shot" at landing the company because of its technology, infrastructure and educational base– "just the zeitgeist of the city," Sternlicht said in an interview on Bloomberg Television from the F…

SharedSpace

CRETECH

10/25/2017

CONTACTMichael Everts, President, SharedSpaceTHE SCOOPI am a huge, huge fan of Co-Working spaces. Have seen a lot of them. If I am ever looking for space again, I am definitely going that route. And if I was looking for space in Atlanta, I know where I would look first…SharedSpace. Michael Everts with serial entrepreneur and long time real estate leader, Dan Levison are doing some super cool stuff in the Co-Working sector. They totally get the entrepreneurial, startup, fre…

Realstax

CRETECH

10/25/2017

CONTACTJason Forcier, Co-Founder and CEO, RealstaxTHE SCOOPI friggin love what Jason and his team are doing at Realstax. It’s one of the smartest sites I have seen to date. Realstax retransforms the way brokers and tenants find office space using software to turn tedious paper binded property pitchbooks into a digital, interactive and measurable experience. Their technology is being used by some of the biggest names in the commercial real estate brokerage sector including CBRE, JLL,…

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Is WeWork Going Through An Identity Crisis?

‘A technological revolution’ is tearing through retail

WeWork taking over large LinkedIn lease in Mountain View

CBRE acquires San Francisco-based tech brokerage Custom Spaces