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Unibail Rodamco Westfield and Hammerson Plc reported earnings that rebounded in the first half of the year as the impact of the pandemic subsided more quickly than expected.
The number of riders using the 59th Street stop has been declining for years now. Since 2014, it’s down more than 50 percent. The lockdowns, coupled with the unhurried return of office workers, only served to exacerbate that downturn.
The company will buy the James R. Thompson Center, a 17-story building that occupies a full city block in the central Loop district and was designed in the early 1980s by architect Helmut Jahn. The deal is valued at $105 million, before renovation.
As the larger tech sector has experienced a valuation reset, venture capital investors in proptech are taking a much more careful stance, wanting to see a clear path to profits.