- Office Workers in San Francisco, Manhattan and Chicago Are Not Returning to the Office in Significant Numbers, Research Shows “Companies are trying to bring back employees into the office. Early data suggests that workers still aren’t that keen. According to a new report by Placer.ai, visits to office buildings have yet to catch up to pre-pandemic levels in such major employment centers as San Francisco, Manhattan and Chicago. In May 2022, visits to office buildings in San Francisco were down by 67.8% as compared to three years ago, before the pandemic shuttered most of the country.” (MarketWatch)
- Rumors Fly Regarding Cushman-Newmark Merger: Report “As Cushman & Wakefield and the Newmark Group continue to vie for the top spot in the commercial brokerage world, rumors are flying that the two behemoths could merge. Whispers of a potential merger made the rounds at last week’s Real Estate Board of New York gala, the New York Post reported. One source told the publication that the merge possibility “cratered a long time ago,” while another said talks are back on after they previously fell apart.” (The Real Deal)
- Attractive Healthcare Real Estate Sector Welcomes New Investors “Healthcare real estate’s appeal continues to attract new investors, creating a high level of competition, both amongst institutions and private investors. Last week, Vanbarton Healthcare Group joined with Tramview Capital Management to be among the latest, announcing a joint venture targeting healthcare investments in select markets throughout the country.” (GlobeSt.com)
- Here Are the Elections for Real Estate to Watch “Tenant and environmental groups blamed the Assembly in particular for standing in the way of their legislative priorities, including good cause, the electrification of all new buildings in the state and allowing the state power authority to build, own and operate renewable energy projects. In Tuesday’s primary election, the Working Families Party has backed a slate of Assembly Democrats focused on climate change measures, according to City and State, and many of the candidates also list good cause eviction as a priority.” (The Real Deal)
- Kansas City Names the Best Place on Earth to Work Remotely, Beating Out International Metropolises and Capital Cities “Kansas City, Missouri has been voted the best place on earth to work remotely, according to new research from Icelandair. The city, which is home to around 500,000 people, was one of 150 analysed by the airline, which ranked cities according to how easy, safe and healthy it is to work in them. Factors including internet speeds, quality of life, cost of living, and healthcare were all considered in the ranking, according to the research.” (Insider)
- Los Angeles Will Use Digital Twins to Help Decarbonize Office Buildings “Los Angeles will create a digital twin of a section of the city to help make its buildings more sustainable and decrease carbon emissions. The city will work with Cityzenith, a digital twin platform that’ll provide the digital twin free of charge and allow decarbonization strategies to be tested virtually before the methods are used in the real world. The digital twin project in LA will initially focus on Bunker Hill, a downtown neighborhood in the city.” (Propmodo)
- How ‘Severance’ and ‘WeCrashed’ Hold an Uncomfortable Mirror to the Post-COVID Office “A woman sprawled across a wood table wakes up in a windowless conference room. A man forgets his full name when he walks into a vast, snow-capped office tower. These are among the opening scenes of the hit Apple TV+ show “Severance,” where the employees of the mysterious Lumon Industries live their lives entirely inside bleak, sterile offices — or at least the only part of their lives they can remember.” (Commercial Observer)
- Former Retail Real Estate CEO Joins WeWork’s Board “Hurwitz is a more than 35-year veteran of the retail real estate industry, having held CEO titles at several firms.” (Bisnow)
- The Wild History of the ‘Only Murders’ Buildings “From the get-go, the Belnord was a newsmaker — an edifice of excess, a home for hyperbole. When it was finished in 1909, covering a full city block at West 86th Street and Broadway, the architect boasted that it was the largest apartment building in the country, and maybe the world. Newspapers, including this one, touted the interior courtyard as the biggest in Manhattan — a half acre of open space, with a garden and a lawn ‘for a score of children to romp on,’ crowned with a bountiful, tiered marble fountain.” (The New York Times)
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