Latest Trends and Insights in Real Estate Technology

Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.

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  • Virtually No One Will Lease to WeWork. That’s a Drag on NYC’s Office Market.

    WSJ

    Turmoil at WeWork is causing the shared-office-space company to all but stop signing new leases, a fresh blow to New York City’s already softening commercial real-estate market. Since We Co. Chief Executive Adam Neumann stepped down on Tuesday, the company has reversed its rapid growth strategy, looking to slow its expansion, shed head count and assets, and move closer to profitability. That new approach initially included a decision to forgo signing any new leases, according to people f…

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  • Durst Ready: Developer to launch flexible office space arm

    THE REAL DEAL

    When the Durst Organization rejected WeWork’s bid to take 12 floors at One World Trade Center last year, the developer had an idea for its own flexible office space operation. The concept of Durst setting out on its own ultimately wasn’t the reason for giving WeWork the boot, but the embattled co-working giant did help inspire “Durst Ready,” a new flexible office space leasing arm that will launch next week. The company saw an opportunity to compete with co-working firms for small to mid-size…

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  • Real Estate Tech Startup Cadre Hits $100M in Investor Returns With Chicago, Atlanta Property Sales

    FORTUNE

    Real estate tech startup Cadre has made waves in recent years for a platform enabling individuals to invest in commercial property transactions for as little as $50,000. So far, Cadre’s model has caught on. In the five years since launching in 2014, the startup now has roughly 20,000 investors who have stakes in more than $3 billion worth of real estate assets. And with the recent sale of two apartment complexes located in the Chicago and Atlanta metro areas, respectively, Cadre says it’s …

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  • Storage Startup Clutter, Backed By SoftBank, Aims To Disrupt Self-Storage

    BISNOW

    Softbank-backed storage startup Clutter has acquired the Storage Fox, a self-storage specialist in the New York metro area, for $152M. The deal is Clutter’s first foray into self-storage real estate. Its existing on-demand model allows customers, via a website and app, to schedule pickup and retrieval of stored items in 2M SF of warehouse space that the company controls. The company also offers its customers images of their items in storage.

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  • Salt Lake City Leads Nation in Flex-Office Growth

    GLOBEST

    Salt Lake City is leading the nation in flexible office space growth. The Silicon Slope—the name given to the booming tech sector in Salt Lake City—is attracting big name flexible office providers to set up shop in the market. According to a new report from CBRE, the Salt Lake City market added 350,000 square feet of flexible office space in the second quarter, a total market increase of 89.9%.

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  • Looking For a New Way to Live

    NEW YORK TIMES

    This article is part of a new series on Visionaries. The New York Times selected people from all over the world who are pushing the boundaries of their fields, from science and technology to culture and sports. For James Ehrlich, farm-to-table is just a starting point for the future. The New York native, who migrated to Silicon Valley decades ago, is the founder and president of ReGen Villages, which seeks to create self-reliant ecosystems globally….

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  • As Unprofitable Unicorns Raise Record Sums, WeWork Turns To Private Investors

    CRUNCHBASE

    Following The We Company’s abortive attempt at an IPO, the parent company of the popular WeWork coworking brand is looking towards its old friends for the cash it needs to stay afloat. According to the Financial Times, SoftBank is “in talks” to provide more capital to WeWork. Business Insider writes that the Japanese conglomerate and investing impresario are considering providing WeWork with “a $1 billion lifeline.” Given the scale of capital that WeWork consumes, the money is needed. (More o…

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  • SoftBank Bet Big on Disruptive Companies. Many Have Not Paid Off.

    NEW YORK TIMES

    Anyone who has taken an Uber, sent a Slack message or enjoyed a free beer at a WeWork owes a little something to Masayoshi Son. Through his Japanese conglomerate SoftBank and a $100 billion investment fund, Mr. Son plowed huge sums into these and other companies that aim to change how people work, travel and live. His investments enabled the young companies to throw caution to the wind and run up big losses as they expanded at a breakneck pace in recent years. Even in the start-up world, where …

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  • Start-Ups Like WeWork and Peloton Feel a Chill on Wall St.

    NEW YORK TIMES

    This was supposed to be the year when America’s biggest start-ups would finally make their triumphant debut on the stock market. Billionaire Silicon Valley investors, sneaker-clad founders and button-down bankers all expected enormous stock sales to turn companies like Uber, Lyft and WeWork into a new generation of corporate giants. It hasn’t quite turned out that way. Last week, WeWork postponed its planned initial public offering. Uber and Lyft sold shares earlier this year only to see their…

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  • WeWork Cleans House, Looks to Trim Staff Close to Ex-CEO, Sell Private Jet

    WSJ

    The post- Adam Neumann era at WeWork has begun. In the days since Mr. Neumann stepped down as chief executive, the company’s new leaders have moved to pare its headcount and assets, including advancing plans Thursday to purge nearly 20 friends and family members of Mr. Neumann and his wife, Rebekah Neumann, according to people familiar with the matter.

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