- ‘Pretend to work somewhere else’: Elon Musk’s leaked email ends remote work privileges for Tesla staff “In a leaked email from Elon Musk sent on Tuesday titled ‘Remote work is no longer acceptable,’ the polarizing centibillionaire said only in extreme cases where this was deemed impossible would he personally decide whether to reconsider his decree.” (Fortune)
- Amazon’s Warehouse Pullback Seen As Opportunity For Upstarts To Play Catch-Up “In another real estate cycle, that much space may have sent reactionary negative shockwaves through the market, but experts who spoke to Bisnow over the last week said the industrial real estate's fundamentals show an industry that can handle such a tremor.” (Bisnow)
- CRE’s Outsize Role in Decarbonizing Cities “More than 60 percent of carbon emissions come from buildings. So as cities around the globe set ambitious carbon reduction goals, there is increasing pressure on the real estate industry to help meet those goals, writes Guy Grainger, global head of Sustainability Services and ESG for JLL.” (Commercial Property Executive)
- About 100 Sears Hometown stores are closing “Sears Hometown and Outlet stores were spun-off by Sears Holdings in 2012. Transformco, which acquired Sears Holdings after the company filed for bankruptcy in 2018, didn't respond to CNN Business' request for comment. As recently as of 2019, Sears Hometown had 750 stores in the United States.” (CNN Business)
- Go-Shop Period In Blackstone, PS Business Parks Deal Expires With No Competing Offers “None of those third parties, or any others, have made competing proposals following the execution of the merger agreement, PSB said in a statement. At this point, no-shop provisions now limit the ability of PSB and its representatives to negotiate competing proposals with or provide non-public information to third parties, subject to exceptions outlined in the merger agreement.” (GlobeSt.com)
- Proptech Retrospect: May sees real estate investment surge and growing hybrid workspace adoption “Examples of real estate investment activity include Stoa‘s recent $50 million equity funding round led by Zeev Ventures for its single-family rental (SFR) investment platform FlipOS. Sundae also ended the month with a new premium property investment program to provide investors a way to scale their businesses through its “as-is” property marketplace.” (FinLedger)
- Keep an eye on these ‘overvalued’ housing markets as the housing boom implodes “Moody’s Analytics chief economist Mark Zandi tells Fortune it’s premature to use that term. A bubble, in his mind, would require both speculation-driven price growth and overvaluation. That said, we do meet at least one element of a bubble: overvaluation.” (Fortune)
- Housing, Child Care, Utilities—Nashville Faces Exceptional Inflation Hit From All Sides “Many Nashville residents said in interviews that they are cutting back their spending or taking on more work. Nearly all of them are re-evaluating their budgets to determine what is a necessity and what isn’t. Some have had enough and are leaving town.” (The Wall Street Journal)
- Brokerage Prospecting Strategies, Refined “For brokers, of course, both initiating and developing relationships are critical to building a strong book of business. Interactions, conversations and introductions remain important means of prospecting for clients.” (Commercial Property Executive)
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