- Real-Estate Startup Knotel Files for Chapter 11 Bankruptcy “Real-estate startup Knotel Inc. filed for chapter 11 bankruptcy for its U.S. business on Saturday, agreeing for the company to be taken over by real-estate services firm Newmark Group Inc…. The moves are the latest sign that the Covid-19 pandemic has upended the once-booming co-working industry.” (The Wall Street Journal)
- Jared Leto and Anne Hathaway will help Apple re-create the WeWork disaster for TV “In many ways, Hathaway and Leto could be perfect for the roles. Each actor has played eccentric one-percenters in the past. Leto took a more sinister turn as a wealthy replicant designer in Blade Runner 2049, and Hathaway had a lot of fun in Ocean’s 8 as a film star at the center of a diamond heist.” (The Verge)
- UK online fashion retailer buys Topshop, three other brands “The deal, announced Monday, puts thousands of jobs at risk because Asos acquired the Topshop, Topman, Miss Selfridge’s and HIIT brands but none of their stores. ASOS said it plans to keep only about 300 of the brands’ employees. In addition to the purchase price, ASOS will pay 30 million pounds for pre-ordered stock.” (The Associated Press)
- Sam Zell Expects Rebound for Office, Hospitality and Big-City Multifamily “Chicago’s own Sam Zell sees the future of certain commercial property sectors clouded by possible oversupply, but not so much by permanent shifts stemming from the COVID-19 pandemic. Office use, hospitality and central-city apartments all will rebound, while the industry icon sees potential for oversupply in a couple of currently hot sectors.” (Connect Real Estate)
- Borderlands: $1B warehouse and logistics port planned for Laredo “The project is the next phase of Majestic Realty’s Port Grande Logistics Port, a development that began when the company completed the acquisition of the 2,000-acre site from a subsidiary of Mercedes-Benz in 2015.” (Freight Waves)
- Boston Properties Make the Case for Office Investment “Thomas predicted leasing likely won’t tick up until later in the year, once vaccine strategies are fully deployed coast-to-coast and people feel more comfortable returning to the workplace. He acknowledged that while WFH will become more commonplace in the US and globally, CEOs tend to have a ‘strong interest’ in getting employees back to a physical office environment.” (GlobeSt.com)
- Thor Equities unloads UK logistics portfolio for $415M “Tenants in the portfolio include DHL, British Gas, Clipper Logistics, Sainsburys, Beko and DSV. The property is fully occupied except for the Magna Park location, a property which Thor says is generating interest from prospective tenants.” (The Real Deal)
- Washington lawmakers look for ways to exit the eviction moratorium — and prevent the fallout “Some lawmakers have proposed a suite of bills that could immediately ease the growing financial burdens of renters. Others lawmakers seek to permanently reshape the balance of power between tenants and landlords.” (The Seattle Times)
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