Google buys New York office building for $2.1B amid campus expansion



Google said it’s going to splash out $2.1 billion on a New York City office building even as it moves towards a permanent, “hybrid work” approach that will see many of its employees work remotely much of the time. Google’s purchase of the St. John’s Terminal building in Hudson Square, Manhattan, is the largest price […]

Retailers are bouncing back and looking to expand with new store openings



The American retail sector is back in business and many companies are in expansion mode. According to a report from RetailSphere, a provider of retail analytics, there are more retailers who are planning to open new stores this year rather than close existing premises. The news of a rebound in retail follows a tumultuous 2020 […]

Terraces are becoming an essential fixture for office buildings



Outdoor space has become a must-have in the commercial real estate sector, and now office buildings are increasingly adding terraces as a way to provide that so they can convince people to come back to work. “We’ve been involved in office space and building design, and the evolution of office buildings, for 40 years,” Dan […]

Uncertainty over the return to work boosts co-working spaces



Businesses seeking flexible short-term office solutions are showing greater interest in co-working spaces as the fast-spreading COVID-19 Delta variant causes uncertainty over plans to return to work. Some of the major companies snapping up co-working spaces are in the technology sector. The Wall Street Journal reported tech firms are signing contracts for so-called “hot desks” […]

Mall traffic rebounds to pre-COVID levels as shoppers return



Shopping malls in the U.S. are seeing foot traffic return to close to pre-COVID-19 pandemic levels amid what analysts say is a surprising turnaround for the industry. Indoor shopping malls were hard hit during the pandemic as shoppers chose to stay at home rather than venture outside. And with the rise of e-commerce and curbside […]

Warehouse demand grows rapidly as online commerce explodes



The ongoing COVID-19 pandemic has led to massive demand for warehouse space as e-commerce firms ramp up their operations in a bid to deliver their products to consumers faster. That’s according to the latest Industrial Tenant Demand Study from commercial real estate services firm Jones Lang LaSalle IP, Inc., which forecast that demand for logistics […]

Short-term vacation home bookings are rising fast



Vaccination rates are rising and with it, many states are seeing a rise in short-term vacation home bookings as people look to embark on long-awaited getaways this summer. “This is probably contradictory to what a lot of people may think, but it’s really one of the most exciting times in the industry right now,” Carrington […]

Big investors are buying up more commercial real estate



With the Centers for Disease Control and Prevention recently announcing that Americans who have been vaccinated no longer need to wear masks or observe social distancing in most cases, hopes are high that workers will soon return to the office. And that’s exactly what investors are betting on, causing prices to rise in the commercial […]

Startups are betting on the rise of the suburban office



With many companies saying that they’re happy for remote work to continue, at least part-time, when the COVID-19 pandemic subsides, investors are betting on a surge of interest in newer, smaller work spaces located closer to the suburbs. Some investors are already trying to get ahead of the expected trend, eyeing empty residences and retail […]

Mall owners optimistic of recovery as foot traffic rises



Shopping malls have seen foot traffic jump substantially in recent weeks, and now some are hopeful for a rebound in a sector that has been one of the hardest hit by the COVID-19 pandemic. A March survey by Placer.AI of 52 U.S. malls that based on mobile phone location data, found that foot traffic jumped […]