KPG Funds Launches First Frictionless “Hands Free” Office Building

Real estate investment firm KPG Funds today announced the launch of “Frictionless Forever” at 446 Broadway – L’Atelier. The First Frictionless office building in NYC will have the following “hands free“ features: An Openpath Mobile Access Control System, which features a front door card reader which you access from your smartphone and automatically opens the door as well as elevator floor-by-floor and stair tower control readers for secure access.

United Dwelling Raises $10M Series B To Turn Garages Into Affordable Housing

Storied investor Steven Dietz‘s earliest investments were in two businesses that are household names today: Costco and Starbucks. As one of three founders of Upfront Ventures, he subsequently went on to back PetSmart, Ulta Beauty and Office Depot (among others) during his time at the Santa Monica, California-based venture firm.

Virus Layoffs Remake Silicon Valley Job Market

Hours after Joe Taylor was laid off by Uber Technologies Inc., as part of the ride-sharing company’s far-reaching cost-cutting, the hardware engineer began looking for a new job. What he’s seeing is a Silicon Valley job market that has lost its spark.

CoStar Group, Inc. Announces Public Offering of Common Stock

CoStar Group, Inc. (Nasdaq: CSGP) (“CoStar”) announced it has commenced a public offering of $1.25 billion of its common stock. CoStar expects to grant the underwriters in the offering a 30-day option to purchase an additional $187.5 million of its common stock. Goldman Sachs & Co. LLC, J.P. Morgan, BofA Securities and Citigroup are acting as joint book-running managers for the offering. CoStar expects to use the net proceeds of the offering to fund all or a portion of the costs of any strat…

In Case You Missed It, Read the Highlights from CREtech Talks: The Evolving Dynamics of Ecommerce

In the post-pandemic era of commercial real estate, the industrial real estate sector may be the most disrupted, yet opportunistic. A true black swan event in modern economic history, today’s leaders in industrial real estate have rethought and transformed their approach and strategies in today’s economic environment. In a recent CREtech Talks, The Evolving Dynamics of Ecommerce, four industrial real estate experts, Geoffrey Kasselman of CRG, Will O’Donnell of Prologis Ventures, Jay Todisco o…

WeWork Wants a Rent Break. Its Customers Do, Too.

Arculus raises €16M to upgrade assembly lines with its ‘modular production platform’

Arculus, the Ingolstadt, Germany-based startup that has developed a “modular production platform” to bring assembly lines into the 21st century, has raised €16 million in Series A investment.

CoStar’s Andy Florance on buying Ten-X, the future of office buildings and why brokers don’t need discounts

Andrew Florance, CEO of CoStar (Photo by Jeffrey MacMillan for the Washington Post) Commercial real estate is navigating perhaps its greatest challenge in a generation, if not more. Many of the world’s most prominent companies have indicated that their needs for office space will…

SoftBank-Backed Construction Firm Katerra Taps Oil-Industry Vet as CEO

Construction startup Katerra is replacing its chief executive and has secured new funding, as the firm tries to navigate a sharp industry slowdown caused by the pandemic. Paal Kibsgaard, the former chief executive of oil services firm Schlumberger Ltd. and most recently Katerra’s chief operating officer, is taking over the helm on July 1. Michael Marks, who co-founded the company in 2015, is stepping down, Katerra said.

Apple begins reopening some stores with temperature checks and other safeguards in place

In mid-March, Apple closed all of its stores outside of China “until further notice.” It was a sweeping — but necessary — move for a world facing down a growing pandemic. In a statement issued today until the title, “To our Customers,” Retail SVP Deirdre O’Brien offered insight into the company’s plans to reopen locations.