- Cities Lost Population in 2021, Leading to the Slowest Year of Growth in U.S. History “Substantial population loss in some of the nation’s largest and most vibrant cities was the primary reason 2021 was the slowest year of population growth in U.S. history, new Census data shows. Although some of the fastest growing regions in the country continued to boom, the gains were nearly erased by stark losses last year in counties that encompass the New York, Los Angeles and San Francisco metropolitan areas.” (The New York Times)
- U.S. Real Estate Secrecy Links Global Corruption, Domestic Inequality “In the United States, as in many countries, real estate is an attractive investment for kleptocrats looking to park dubiously sourced money, as it continues to be one of the least transparent industries. This lack of transparency, and the flood of corrupt and illegal cash that it invites into an industry that touches every element of American society both undermines the United States’ ability to levy sanctions to stop international conflicts- and impacts any number of domestic issues, from the fight for democracy to the racial wealth gap. That’s the immensity of this problem – but also the promise inherent in fixing it.” (Just Security)
- Wall Street Bets on Gym Chains Getting Back in Shape “Gym chains are back in favor on Wall Street for the same reason Peloton Interactive Inc. is on the outs: Americans are tired of working out at home. Budget operator Planet Fitness Inc. and its franchises attracted hundreds of millions of dollars from private fund managers in recent months, according to people familiar with the deals. Higher-end clubs like Life Time Group Holdings and Bay Club Co. have also seen fresh investor interest in their stock and debt, respectively.” (The Wall Street Journal)
- The Office Parking Lot Wars Are Back “Fuller office parking lots are a good thing. Really. They’re a sign that workers are gathering again, helping coffee shops and lunch spots recover, and adding to a sense that we’re finally—finally—emerging from the pandemic. Just try telling that to the office-return pioneers who feel like their VIP status has been revoked. ‘I’m very self-centered, and I want my parking spot that’s really good,’ says Hunter Palmer, an attorney who works in a 55-story skyscraper in downtown Dallas.” (The Wall Street Journal)
- Office-to-Logistics Conversions Are Challenging. Here’s Why “With industrial facilities in record-high demand, it makes perfect sense to take underutilized office properties and turn them into state-of-the-art warehouses. But don’t expect the trend to be sweeping the country. Only certain office properties in certain locations are viable for such undertakings. And that’s just the short list of criteria.” (Commercial Property Executive)
- ‘Everything’s Going to Pieces’: How a Port Took Over a Black U.S. Neighborhood “At t age 97, Henry Jones is preparing to move out of the house he called home for more than 70 years, a modest dwelling he built in Freeport, Texas. The exterior is a cool, teal color; the interior walls are lined with family memorabilia and intricate wooden detail. This, he says, is where the best memories of his life have taken place. The process of leaving, however, has made for some of the worst. Jones is one of the final residents of the city’s East End, a historically Black neighborhood that became encircled by industry throughout the 20th century, much of it related to Port Freeport.” (The Guardian)
- Instacart Wants to Help Grocers Get in on the 15-Minute Delivery “Instacart wants to help grocery stores get in on the ultra-fast delivery craze. The on-demand grocery delivery company on Wednesday announced several new services for retail partners, including one called Carrot Warehouses, which promises to help grocers build out the infrastructure to support 15-minute deliveries. That would cut Instacart's quickest existing option — 30-minute deliveries — in half.” (CNN Business)
- Single-Story Offices Grow in Stature as Tenants Look for Safer Options “A single-story building means no crowded elevators or lobbies, but owners will need to provide amenities if they want to compete with Class-A towers.” (Bisnow)
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