Spring is in the air and instead of enjoying the weather we chose to spend our time gathering these CRE news articles just for you! This week we found 400 jobs canceled, who won the Starwood bidding war, a retail rebirth, a micro-unit development coming to the ATL, and a lot more. See the 12 CRE news articles below to get a better all around view of the industry:
1. Washington Monument to be Redeveloped into Vibrant Mixed-Use Community – Citing a need to capitalize on its best real estate assets, the General Services Administration, on behalf of the National Parks Service, has decided to sell the Washington Monument, and the land on which it sits, to the biggest developer in the DC region, The JBG Cos. (Bisnow)
2. PayPal cancels North Carolina expansion over discrimination law – PayPal says it’s canceling plans to bring 400 jobs to North Carolina after lawmakers passed a law that restricts protections for lesbian, gay, bisexual and transgender people. (L.A. Times)
3. Starwood Goes Back to Marriott – Following the withdrawal of Anbang’s $14 billion offer, Starwood and Marriott shareholders will vote Friday on whether to merge into the largest hotel company in the world. (Commercial Property Executive)
4. Dead, ugly malls turned into productive real estate again by Dallas duo – In the monumental, half-empty spaces, they see new stores, landscaping, pedestrian walkways, restaurants, maybe a fountain or some other communal spaces and lots of people. Instead of blight, they see filled parking spaces and a town center. (The Dallas MorningNews)
5. San Francisco Tech Firms See Workers Flee From $4,500 Rents – In the last year, there’s been a constant flow of workers moving from San Francisco to Seattle, Denver, Austin and the Los Angeles area, Patel said. Many tech workers start out in San Francisco to boost salary and establish themselves before moving to more affordable markets, he added. (Bloomberg Technology)
6. The Rebirth of Retail? – There’s been a lot in the press lately about how e-commerce is beating bricks-and-mortar retail and that’s why companies like Walmart, Sears and Sports Authority are each closing over 100 stores this year. If bricks-and-mortar is dying, someone should probably tell Amazon, as the largest internet seller in the US recently started opening physical stores; someone should tell Under Armour, who plan to more than double their number of stores by adding 200 more in 2016 alone. (Colliers Knowledge Leader)
7. Why Aren’t We Building More Mixed Offices? – Different enterprises require different things from their workplaces. It’s time we met more companies’ needs. For some, the traditional center-core commercial high-rise works perfectly well; others want loft-like spaces with more floor area and greater flexibility; still others prefer something in between. But imagine the value we could create by combining these office typologies into one “hybrid tower.” (CBRE Blueprint)
8. Hotel Growth Could Ease As Supply Picks Up – “Following several years of rising occupancy, new supply will finally accelerate sufficiently to balance demand,” according to Marcus & Millichap’s latest Hospitality Investment Forecast. (GlobeSt.com)
9. One of the largest data leaks in history reveals how world leaders and aides hide their cash – A year-long investigation just revealed where 140 political figures — including 12 current of former heads of states — hide their cash. (Business Insider)
10. America’s Hiring Rose in February to the Highest Since Before the Recession – More Americans were hired to start a new job in February than in any month since before the recession that began in 2007—about 5.4 million people. (WSJ)
11. In Atlanta, Can a Micro-Unit Development Succeed? – Atlantans love their space. Big roads. Big cars. Big porches. Big yards. So what makes a developer think a big stack of micro-apartments will fly in the ATL? Perhaps that’s where the intown market is heading. (Curbed Atlanta)
12. Why Cross-Border Business is a Win-Win for the US and Mexico – Cristina tells us more than 290 US companies have operations in Tijuana alone. Over the last three years, 19 US companies established operations in Tijuana, and 28 others expanded capabilities and/or productions, primarily in the medical device sector. (Bisnow)
If you like our weekly roundup, but want to see CRE news articles focused more around your markets or properties, you can always sign up to our free news tool.
Our news tool includes the news feed of our Insights product, which gives you the ability to follow markets, locations, or properties. Which means you only see CRE news happening in a 1-10 mile radius depending on your settings. Free accounts also get access to our CRE news on a map feature giving you a unique view on the commercial real estate updates reported in 170 markets across the country from over 200 news sources.