- COVID-19 Small Business Loan Program PPP to Reopen Jan. 11 “The Paycheck Protection Program of forgivable loans will reopen on Monday, the Trump administration said, as the federal government extends efforts to preserve jobs and help businesses weather the coronavirus pandemic and related lockdowns. The program, administered by the Small Business Administration and Treasury Department, will initially reopen for first-time borrowers, with second-time borrowers eligible to apply on Wednesday.” (Wall Street Journal)
- COVID Vaccinations Offer CVS, Walgreens and Rite Aid a Chance to Showcase How Drugstores Have Changed “CVS Health, Walgreens and Rite Aid are getting ready to administer Covid vaccinations in the months ahead, and this effort will give the three largest drugstore chains a chance to show off the work that’s been underway to revamp their businesses and respond to huge changes in consumer behavior. The three drugstores have long been places where Americans stock up on shampoo, refill prescriptions and browse the aisles for a cold or flu remedy.” (CNBC)
- It Could Be a Great Year If Your Business Survives Winter “For Ashlie Ordonez, owner of the Bare Bar Studio, a spa in Denver, vaccinations for the coronavirus can’t come soon enough. While she anticipates better days later this year, surviving until then will be a struggle, and she knows the next few months will be lean ones. ‘I sold my wedding ring so we could pay the bills and keep the doors open,’ she said. ‘I’m sacrificing everything to make it through this pandemic.’” (The New York Times)
- Everything Restaurants Need to Know About the $284 Billion PPP Program “Smaller borrowers who never received PPP financing will have first dibs today. Businesses in underserved neighborhoods hoping for a second loan will get early access, too; they’ll be able to submit applications on Wednesday. The Small Business Administration will open up the program to everyone else soon afterward. All bars and restaurants will be able to apply for a second PPP loan that’s up to 40 percent larger than their initial one. Venues that abide by the program’s tight rules will see those loans convert to grants, providing them with tens or hundreds of thousands of dollars to stay afloat as the pandemic reaches another peak. Those who don’t follow those rules will have to pay back those loans with interest.” (Eater New York)
- Staples Offers $2.1 Billion Cash to Buy Office Depot Parent “Office supplies retailer Staples on Monday said it made an offer to buy Office Depot owner ODP Corp for $2.1 billion in cash, nearly five years after its second takeover effort was rejected. The U.S. Federal Trade Commission blocked Staple’s $6.3 billion offer in 2016, saying a merger between the two could reduce competition for nationwide contracts for office supplies.” (Reuters)
- $60 Million High Line Extension to Connect Park to Moynihan Train Station “Gov. Andrew M. Cuomo said on Sunday that the High Line will be extended to connect to the newly opened Moynihan Train Hall, a project that he said help spur development in the surrounding neighborhoods and boost an economy facing a deep crisis because of the pandemic. The new link, officials said, will provide an alternative way to access the new station, which serves Amtrak and the Long Island Railroad.” (The New York Times)
- Vaccine to Trigger Q3 CRE Recovery: Report “Most of the country’s industrial markets will be in a recovery or expansion mode this year, while only a handful of metros will see their office markets expand, according to Integra Realty Resources’ Viewpoint 2021 publication. But until the reset of the economy—expected to occur at the midyear point—the firm remains cautiously optimistic about the overall state of commercial real estate.” (Commercial Property Executive)
- DCI to Develop $308M Sydney Data Center “DCI Data Centers, a fully owned portfolio company of Brookfield Asset Management, has received regulatory approval to develop a new, 36 MW facility in Sydney, Australia. Dubbed SYD02, the property is slated to open in the fourth quarter of 2022. The company will invest approximately $308.4 million ($400 million AUD) in the project.” (Commercial Property Executive)
- IKEA Opens its First Small-Format Store in the U.S. “Home goods retailer Ikea has opened its first small-format store in the U.S., the company announced Monday.” (MarketWatch)
- Saving Some Favorite NYC Places Through Online Campaigns “The boarded up windows and For Rent signs are all over the place in Manhattan’s Hell’s Kitchen neighborhood, where restaurants are closed and businesses shuttered. Nearby, the Broadway theaters are all dark. But the economic darkness brought on by the coronavirus pandemic has had a few bright spots: A couple of well-loved venues have received financial boosts to help them make it through, thanks to online fundraising campaigns and even a telethon.” (Associated Press)
- Ahold Delhaize Sanitizes U.S. Distribution Centers with Robots “Retail Business Services (RBS), the services company of Ahold Delhaize USA, is testing newly-launched ultraviolet (UV) robots from Ava Robotics in two of its affiliated distribution centers to support enhanced cleaning procedures during the COVID-19 pandemic. The fully autonomous robots feature applications that disinfect both air and surfaces, with integration of screens and speakers for disinfection-related announcements.” (Chain Store Age)
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