Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Politico
Many workers are desperate to get back to the office. In Zoom meetings and socially distant conference rooms all over Wall Street, senior executives are trying to map out a post-Covid world. Or at least a late-Covid world. A big piece of these discussions is figuring out how many of the tens of millions of employees currently working remotely need to return to the office.
TechCrunch
Commercial electric vehicle startup Xos Trucks has raised $20 million, funding it will use to ramp up production ahead of potential new demand fueled by a landmark emissions rule adopted by California that will require more than half of all trucks sold in the state to be zero-emissions by 2035.
Axios
Airbnb said Wednesday that it confidentially submitted paperwork to the Securities and Exchange Commission to go public. Why it matters per Axios’ Dan Primack: Airbnb had been widely expected to go public earlier in the year, but paused when the pandemic incapacitated global hospitality. What’s still unknown is how much the company has rebounded since this spring and whether investors will effectively give the company a mulligan for 2020….
Wall Street Journal
Nimbus Therapeutics used to cater lunch for its entire staff three times a week at its Cambridge, Mass., headquarters—a hip place where the taxidermied office moose has its own Instagram account. Employees got plenty of branded swag, and enjoyed perks such as company-paid spa treatments.
Wall Street Journal
Mall owner Simon Property Group is pursuing an unorthodox business strategy, smashing the foundation of the traditional industry model on the one hand while trying to glue certain elements of it back together with the other. Simon has been in talks with Amazon.com Inc. to convert department stores into warehouse distribution hubs, say people familiar with the matter, an innovation that could plug large holes filled by ailing tenants such as Sears Holdings Corp. and J.C. Penney Co. But the move w…
Bisnow
Commercial real estate brokers and market experts believe the coronavirus has fundamentally shifted the leasing market to unfamiliar territory, and it is time to begin thinking about creative ways to reposition retail, restaurant, hotel and office properties that are at risk of losing tenants permanently.
Wall Street Journal
Breaking into Silicon Valley has become an even taller order for first-time entrepreneurs during the coronavirus pandemic. Seed financing—the earliest stage of startup investing and the start of many technology success stories—has borne the brunt of the pandemic’s hit on the venture-capital sector, data shows. While established startups and entrepreneurs have been able to tap investors to keep businesses afloat or start new ventures during the financial upheaval, newcomers say the bar has been r…
Bisnow
Workers are returning to the UK’s flexible offices more slowly than in other European countries, new data shows. Building occupancy in UK flexible offices is just 23%, according to survey data from Workthere, the flexible office advisory division of Savills. That compares to 35% in Spain, 43% in Ireland, 55% in Germany and 57% in the Netherlands. The survey looked at the proportion of people turning up to occupy their space up to mid-July.
PlaceTech.
The developer has chosen Equiem as its partner to deliver a digital tenant engagement app across its mixed-use London campuses. Broadgate, one of London’s largest pedestrianised neighbourhoods, will be the first British Land campus to benefit from the partnership. Over 26,000 people are based at the campus, which attracts more than 19 million visitors each year. The app is designed to help people get the most from their time at Broadgate – whether in their office or visiting its shops and restau…
The Real Deal
News of the company’s interest in the property broke last year, a few months before Facebook announced it was taking 1.5 million square feet of office space in three Hudson Yards buildings on Manhattan’s Far West Side.
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