Latest in Commercial Real Estate Tech News by CREtech

These real estate tech game-changers could transform the way brokers do business

The Real Deal – Los Angeles

4/30/2018

(Illustration by Daniel Nyari) Of all the hats a broker must wear through the course of the job, data scientist is a recent addition. Generating leads through complex algorithms, using microtargeted marketing, and even paying for properties with a virtual currency have become a part of the way business gets done. And with centers for such innovations so close by, with Silicon Valley to the north and Silicon Beach right in town, it behooves L.A.’s brokers to get in on new technologies early. “If …

Knotel wants all of your sublease space

The Real Deal

4/30/2018

Knotel, in its ongoing quest to outmaneuver rival WeWork, is now offering companies looking to upsize or downsize a hassle-free service to offload sublease space. The flexible office space startup led by Amol Sarva reportedly conducted the office-swap this week. The company subleased a 45,000 square foot space from Wyng, a software company, that was renting at 360 Park Avenue, according to Crains. The software company had sought to downsize and is moving into a smaller space leased by Knotel …

5 Ways Landlords are Using Technology as the New “Amenity”

CRETech

4/30/2018

Traditionally, FIRE tenants, those in finance, insurance, and real estate, have dominated the pool of office space in commercial real estate. Yet for the last decade or so, TAMI tenants, those in the technology, advertising, media, and information space, have begun outpacing the leasing power of traditional business tenants. Expect that trend to continue. Some estimate that three quarters of the workforce will be made up of millennials in just seven years. They, more than previous generations…

Prologis To Acquire DCT Industrial For $8.4B

GlobeSt

4/30/2018

A Prologis holding. Photo by Prologis. SAN FRANCISCO–Prologis is acquiring rival industrial REIT DCT Industrial Trust in a stock-for-stock acquisition for $8.4 billion. The deal, which boards of directors for both companies have approved, comes as e-commerce activity is driving industrial demand to new heights. Prologis To Acquire DCT Industrial For $8.4B

WeWork is selling $500M in junk bonds

The Real Deal

4/30/2018

WeWork is planning to make its debut sale on the bond market with a $500 million selloff of junk bonds. The Adam Neumann-led co-working company will be issuing seven-year senior unsecured bonds to raise funding for general corporate purposes, and they should price on April 26, according to Bloomberg. WeWork saw revenue of $886 million in 2017, and the company has $706 million in lease commitments this year. It generated $244 million in cash last year and spent $1.5 billion of investments, …

Manhattan Is Tops for Coworking Space, LA Ranks Second: Report

Commercial Observer

4/30/2018

Coworking represents a small yet growing segment of the office market, a new study demonstrates, with Manhattan dominating. Manhattan has 245 coworking spaces equaling 7.7 million square feet, according to a new study by Yardi Matrix, a commercial real estate research and data platform. Los Angeles came in second with 3.7 million square feet in 158 locations. Nine other metros studied have at least 1 million square feet of coworking office product, with Miami being home to the most coworking…

HqO Provides a New App to Promote Amenities and Encourage Community Amongst Tenants of Jamestown’s Innovation and Design Building

HQO

4/30/2018

Mobile Tenant Experience Platform Launches in 1.4 Million-Square-Foot Building in Boston’s Seaport Neighborhood BOSTON, April 30, 2018 (Newswire.com) – HqO, a tenant experience platform for commercial office buildings, today announced that its mobile app for tenants is live in Jamestown’s Innovation and Design Building (the IDB), a mixed-use complex in Boston’s Seaport neighborhood. The IDB is home to some of the fastest-growing and most innovative companies in Boston, including Reebok…

Proptech attracting attention from major CRE players

Connected RE Magazine

4/30/2018

Brookfield investing heavily in proptech for its commercial real estate business Proptech is a hot buzzword in the world of commercial real estate. The portmanteau refers to bringing new technologies, largely dependent on wireless connectivity, to bear on commercial properties. Perhaps the best known company in this category is OpenDoor, which shifts the paradigm for home sales–the company uses an algorithmic approach to purchase homes for cash, which it then sells to prospective buyers. But th…

LetsGetSocial18 Is Coming!

The Broker List Blog

4/28/2018

It’s hard to believe but ICSC RECon 2018 in Las Vegas is just two months away. We are excited to announce that #LetsGetSocial18 will once again kick off this annual extravaganza. As in the last two years, we’ll be holding it from 5:00pm to 7:00pm at the Sports Bar at Aria. It’s a great opportunity to say hello to old friends and colleagues, and meet some new ones, too! There’s no better way to put faces to all those Twitter handles you’ve following. This year’s event is being hosted by Buildout…

Google’s parent company is building a futuristic neighborhood in Canada — but locals don’t want to live in a ‘new Silicon Valley’

Business Insider – Money

4/27/2018

In October 2017, Sidewalk Labs — the urban innovation unit of Google parent company Alphabet — announced plans to develop a high-tech neighborhood in Toronto, called Quayside. Sidewalk Labs recently held its first public roundtable with Toronto residents to discuss their thoughts and concerns about the project. In the company’s summary, locals expressed worries that Quayside would become a “new Silicon Valley,” bringing issues like gentrification/higher housing prices and income inequality. Sili…

Latest Trends and Insights in Real Estate Technology

Search