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10 Must Reads for the CRE Industry Today (Oct. 17, 2020)

Blackstone continues to bet on the life sciences sector with BioMed deal, reports the Wall Street Journal. Google to expand its offices in San Francisco, according to the San Francisco Chronicle. These are among today’s must reads from around the commercial real estate industry.

  1. Blackstone Deal Values BioMed at $14.6 Billion as Pandemic Raises the Stakes “Blackstone Group is extending its big bet on biotechnology and other life-science buildings, undefined hot field in the real-estate world that is heating up even more as scientists pursue a vaccine for COVID-19.” (Wall Street Journal)
  2. Google Expands S.F. Office Despite Shift to Working From Home During Pandemic “Even with most of its offices closed and a hiring slowdown, the tech giant is growing in San Francisco.” (San Francisco Chronicle)
  3. The Future of Hotel Design “Mobile guest rooms, enhanced contactless room controls, robotic servers and pop-up dining areas are just a few of the ideas hotel designers are considering for the post-Covid travel world.” (The New York Times)
  4. Ventas Makes $1B Deal for Life Science Campus “The trophy South San Francisco property includes the nation's tallest life science tower.” (Commercial Property Executive)
  5. How a Pioneering Covid Testing Lab Helped Keep Northeast Colleges Open “One reason many Northeastern colleges have experienced few coronavirus outbreaks has been a testing operation run by Broad Institute of MIT and Harvard with 14-hour turnaround times and low-cost tests.” (Wall Street Journal)
  6. So Long, Sears. What Comes Next For These Empty Architectural Behemoths? “The crumbling of the mighty Sears retail empire has left massive buildings sitting on valuable real estate.” (LAist)
  7. Opinion: Half of Americans Over 55 May Retire Poor “How badly is COVID-19 hurting Americans on the cusp of retirement? Maybe worse than we thought.” (MarketWatch)
  8. Senior Housing Occupancy Falls to Another Record Low in Q3 “Covid-19 continues to adversely affect senior housing occupancy, which reached another record low in the third quarter of 2020, according to data released by the National Investment Center for Seniors Housing & Care (NIC).” (Senior Housing News)
  9. ICSC Sees 1.9% Rise in Holiday Sales “The main trade group for shopping centers has added its holiday forecasts to the pool, projecting a 1.9% rise in spending to $862.2 billion.” (Retail Dive)
  10. Senior Housing Towers Open in Manhattan and Brooklyn “Several new high-end projects come to New York City, with some pandemic adjustments.” (The New York Times)
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