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11 Must Reads for the CRE Industry Today (Jan. 20, 2022)

Bisnow explored whether commercial real estate firms plan to institute vaccine mandates. Apple TV released the first teaser for its series on WeWork, entitled WeCrashed. These are among today’s must reads from around the commercial real estate industry.

  1. With Biden's Mandate Overturned, CRE Can Write Its Own Vaccine Rules. Will It? “In a Bisnow survey of commercial real estate brokerages and construction firms — including CBRE, Savills, Newmark, Cushman & Wakefield and Marcus & Millichap — to gauge their vaccination policies, just a handful responded to a query about their plans." (Bisnow)
  2. First Teaser for 'WeCrashed' Series with Jared Leto & Anne Hathaway “Apple has revealed their first official trailer for the new series WeCrashed, another look at an infamous business that started and failed pretty quickly. These kind of stories are so common these days, almost as if there's something wrong with the business world? This series tells the story of the greed-filled rise and inevitable fall of WeWork, one of the world's most valuable startups, and the narcissists whose chaotic love made it all possible.” (
  3. Cincinnati Agency Buys Nearly 200 Rental Homes, Thwarting Private Investors “The program is the most aggressive response yet by local officials looking to keep homes out of the hands of professional investors. Publicly traded companies, private-equity firms and thousands of smaller investors have been buying up single-family homes and renting them out, usually to people who can’t afford the steep down payments.” (The Wall Street Journal)
  4. Hochul’s $216B Budget Includes $25B for Housing and Property Tax Rebates “Hochul also pitched a number of changes to the way residential space will be used, including a property tax rebate for homeowners, increasing the allowable number of accessory dwelling units (ADU) — small, independent residential units on the same lot of a standalone house — and calling for more funding for the Emergency Rental Assistance Program (ERAP), which on Jan. 15 officially ran out of federal money for New Yorkers impacted by the pandemic.” (Commercial Observer)
  5. Google’s ‘dragonscale’ solar-powered roof signals growing demand for sustainable workspaces “Demand for low-emission offices is larger than it ever has been, according to several US architects the Guardian spoke to. That’s especially true in California, where manifestations of the climate crisis are obvious: hotter summers, drought and an annual wildfire season.” (The Guardian)
  6. ‘Unprecedented’: Restaurant chains are booming in the Bay Area due to pandemic conditions “In November, even as many restaurants continued to struggle or close due to the pandemic, Bay Area chain Starbird Chicken announced it had raised $12 million in capital, its fried chicken restaurants were seeing 26% growth in sales over 2020 and many more locations were on the way.” (San Francisco Chronicle)
  7. Architecture firms end 2021 on a strong note “Despite a variety of concerns related to the omicron variant, labor shortages, and rising prices as well as limited availability of construction materials, firms continued to report a robust supply of work in the pipeline. Inquiries into new work and the value of new design contracts both remained strong, and backlogs, at an average of 6.5 months, remained near their highest levels since the AIA began tracking this metric in 2010.” (American Institute of Architects)
  8. Wildfire Risk in California Drives Insurers to Pull Policies for Pricey Homes “AIG told insurance brokers in an email late last year that some policyholders instead may be eligible for coverage via another AIG unit. The other unit operates alongside other so-called excess-and-surplus lines insurers, which have more freedom on policies’ rates and terms than do insurers in the broader, tightly overseen home-insurance market.” (The Wall Street Journal)
  9.’s founder returns as C.E.O. after firing 900 workers on Zoom. “As a result of that investigation, the company is working to expand its leadership by recruiting a new chairman for the board, a president and a chief human resources officer. In the meantime, a former McKinsey senior partner, Richard Benson-Armer, will serve as interim head of human resources, and the company’s chief financial officer, Kevin Ryan, will serve as interim president.” (The New York Times)
  10. The Bonus Depreciation Window of Opportunity Is Closing “Given some of the rumblings coming from inside the Beltway, this provision carries significant weight, especially for high-roller taxpayers with substantial income. It provides an effective means of sheltering this income—even in the absence of a 1031 exchange.” (Commercial Property Executive)
  11. Why Warehouse Developers Are Considering Sustainability More “The growing regulatory and social pressures to rein in emissions, exemplified by CARB’s actions in the nation’s busiest port and warehouse market, are just two aspects  of the renewed attention being paid to the fast-evolving supply chain. It’s frankly been hard to ignore. Despite the impacts of the pandemic, warehouse and industrial real estate has multiplied at a nearly improbable clip.” (Commercial Observer)
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