- Logistics Hot Mess Has Retailers Facing Grim Holiday Season “The pandemic posed problems for international logistics before, but the emergence of the delta variant of the coronavirus comes at a particularly bad time, since retailers need to have their holiday inventories on the way now. A number of bottlenecks are currently emerging to disrupt the flow of goods.” (Bisnow)
- 81% of Ultra-High-Net-Worth Individuals Use Alternative Investments “79% of institutional investors will increase allocations to private equity by 2025, per Preqin -- no surprise given strong returns in recent years. Two-thirds of institutional investors say they'll boost funds invested in private debt and infrastructure, while just over half say they'll do the same for real estate.” (The Motley Fool)
- Boston office building, once WeWork’s largest US site, could become lab space “Landlord Oxford Properties this week told the Boston Planning & Development Agency that it intends to convert 155,000 square feet of commercial space as it seeks a new anchor tenant for the three-decade- old building near South Station.” (The Boston Globe)
- Are Eviction Bans Driving Up Rents? “Regardless of your view on the policy issue, eviction bans indisputably limit available supply. Units that would otherwise go vacant are not becoming available. Less supply in a period of high demand (as we see in 2021) drives up prices. But to what degree?” (GlobeSt.com)
- Restaurant owners sue New York City, hoping to block its ‘ridiculous’ vaccine mandate. “The lawsuit, filed on Tuesday in Richmond County Supreme Court, has the support of prominent Republican elected officials, including Representative Nicole Malliotakis and Joe Borelli, a City Council member; both represent Staten Island.” (The New York Times)
- Austin Is Capital of Homes Selling at Super Premiums “The jump in these sales at six figures above the listed price shows how Austin, which has attracted young professionals for years, has become an even more competitive place to buy in recent months.” (The Wall Street Journal)
- National Coworking Operator To Require Proof Of Vaccination From Tenants “Convene will mandate all staff, members and guests show proof that they have been at least partially vaccinated starting Sept. 13 and fully vaccinated by Oct. 4, the company announced Tuesday. It is the first national coworking company to implement a vaccine mandate for its employees and clients.” (Bisnow)
- In pursuit of 1,000 new employees, Amazon warehouse offers $3,000 signing bonus “It's a limited-time offer as the e-commerce giant sets up operations at its state-of-the-art facility on the grounds of the former General Motors plant on Boxwood Road. Will Carney, the general manager of the Boxwood facility, said Amazon has hired about 500 employees for the fulfillment center and intends to hire about 500 more before the end of the year.” (Delaware News Journal)
- With All That Dry Powder, Office Will Have Its Day “The investment strategies being pursued by much of this capital will be different than in years past, and the sheer magnitude of the increased focus on some deal types will drive pricing increases, and in many cases it already has. Investors quite simply are making bets on a future that in many ways won’t resemble the past.” (Commercial Property Executive)
- BlackRock’s real estate unit acquires clean energy developer “According to its website, the company has wind power projects in development in Colorado, Iowa, Minnesota, New Mexico and Texas and is developing utility-scale solar and storage projects in Colorado, Iowa, Montana, New Mexico and Texas. Additionally, NRS has distributed generation solar and storage projects in development in Delaware, Maine, Maryland and Pennsylvania.” (The Real Deal)
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