Summary List Placement
The pandemic threw the real-estate world into disarray, as people emptied out of offices, hotels, and malls and worked from their homes. That disruption has transformed how people and companies finance, operate, and occupy real estate.
Some big firms like WarnerMedia and Uber have been rethinking office-space needs — and some commercial real-estate deals were put on ice as financing dries up. Coworking and flex-office firms are struggling under big rent obligations after years of rapid growth.
Still, some companies like Facebook have been pushing ahead with plans for big office spaces, showing that it may be too soon to call an end to the office.
A surge in e-commerce, meanwhile, is fueling demand for warehouse and cold storage space as companies look for new ways to reach customers. Life-sciences companies are fueling a big boom in demand for lab space. A surge in streaming content consumption and cloud data needs has made studio spaces and data centers red-hot real estate plays.
And with the pandemic increasing the amount of food delivery and hurting restaurants’ bottom lines, ghost kitchens have been seeing a rush of venture funding.
Here’s the latest news on how real-estate markets are being upended, and how experts think these trends will play out in the long run.
Latest commercial real-estate news and deals
Seattle has become the battleground for tech giants Google, Facebook, Amazon, and Microsoft. Here’s how that’s keeping real-estate deals going despite the pandemic.
Rents in top NYC shopping districts are crashing and dark storefronts are multiplying. A firesale sublease by Ralph Lauren on Fifth Avenue highlights the carnage.
ByteDance quietly leased ‘massive’ data centers in 2020, a sign it may have planned to shift TikTok operations to the US
Sectors that are heating up
Studio space is a red-hot real estate play as demand for streaming content surges, and insiders say Brookfield could be the next big investor to pile in
Booming demand for lab space is a rare bright spot for real-estate developers. But a steep learning curve means some ‘stupid money’ investors could get burned.
Goldman Sachs, KKR, and Blackstone are pouring billions into data centers, a hot real-estate play that’s chasing a boom in cloud storage and streaming content
Demand for lab space is booming, and real-estate giant JLL just hired a new life-sciences expert to lean into the opportunity
Elite litigation firm Boies Schiller is looking to sublet its glitzy NYC office after a firm-wide restructuring and attorney exits
Uber is looking to dump a big chunk of a huge new NYC office it recently signed. It’s an abrupt turnaround for the ride-hailing giant.
Advertising and PR giant Dentsu is the latest corporate tenant to cast off glitzy NYC offices as more companies rethink their footprints
AT&T is putting WarnerMedia’s huge NYC …read more
Source:: Businessinsider – Finance