Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
CNBC
When Macy’s Chief Executive Jeff Gennette explained at an investor meeting in early 2020 that he saw a “bifurcation of malls” shaping up, with the state of lower-tier shopping centers continuing to “decline rapidly,” he didn’t have anything bad to say about so-called A-rated malls.
Wall Street Journal
WeWork is in talks to combine with a special-purpose acquisition company, according to people familiar with the matter, a deal that would usher the office-leasing company into the public markets more than a year after its high-profile failure to stage a traditional initial public offering.
CREtech
Investors and CRE professionals have begun understanding the near- and long-term implications of the global pandemic on real estate assets and on their portfolios. As leading investors begin to reactivate their investment strategies, many are instituting new standards to invest smarter, increase productivity, and grow their business — resulting in better financials, communication, and management of assets.
NY Post
Employees have been working from their homes for so long, some companies are planning offices that will look more like home. “Nobody wants the stainless and bright white,” declared Craig Deitelzweig, CEO of Marx Realty, of the tenants that have been touring their buildings’ pre-built offices. “Instead, they want their office to be like their family room or hotel, with finishes that make them feel embraced and comfortable.”…
Bisnow
Software company LogMeIn had most of its 3,500 workers commute into the office daily before the coronavirus pandemic. Going forward, almost none of them will. After seeing their employees could be productive at home, LogMeIn’s executives in October introduced a long-term, remote-centric work strategy that will have roughly 3% of its employees coming into the office every day….
Bloomberg
In August, the co-living company Common released a request for proposals from U.S. cities that wanted to host a “Remote Work Hub” — a kind of office-plus-apartment complex aimed at young digital nomads. This week the company announced five winners of this quasi-competition, who will now move on to the workshop phase: Developers in New Orleans; Bentonville, Arkansas; Ogden, Utah; Rocky Mount, North Carolina; and Rochester, New York. Their prize is design expertise and a marketing boost from the C…
Forbes
After clamping down on tech spending over the past 12 months, CIOs and individual consumers are set to make 2021 a banner year for many IT budget categories. A new report from Gartner predicts that tech spending will hit $3.9 trillion this year, a 6.2% increase over 2020, with purchases of hardware such as mobile devices and personal computers leading the way along with investment in business software.
CNBC
When Macy’s Chief Executive Jeff Gennette explained at an investor meeting in early 2020 that he saw a “bifurcation of malls” shaping up, with the state of lower-tier shopping centers continuing to “decline rapidly,” he didn’t have anything bad to say about so-called A-rated malls.
Finsmes
Led by Andrew Luong, CEO & Co-Founder, Doorvest is an entirely-online platform for owning income-producing private real estate. The platform provides transparency via a comprehensive breakdown of monthly cash flow, property activity, legal documents, and reports through an investor dashboard.
The Real Deal
Company takes $38M write-off on rent payments, struggles to lease up Dock 72. Boston Properties just made one of the most damning statements a major landlord has given on the co–working industry: It took a big write-off in recognition that flex tenants will struggle to pay rents
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