- Blackstone's $411 billion real-estate portfolio has a secret weapon: a cloud-based tool to analyze property data that the investing giant built itself “The private-equity giant is the largest owner of commercial real-estate in the world, and boasts a portfolio of commercial and residential properties valued at roughly $411 billion. A tool spanning the entirety of the firm's real estate-oriented holdings and portfolio companies would help Blackstone leverage the vast quantity of data and information it receives from its businesses.” (Insider)
- White House plan aims to help key West Coast ports stay open 24/7 to ease supply chain bottlenecks “For the Biden administration, ramping up nighttime operations at West Coast ports, as well as along freight railroads, in warehouses and shipping hubs represents the fastest and most effective way to move goods off of the waiting container ships and ease pressure on the entire supply chain.” (CNBC)
- Why Proptech Needs to Be More Inclusive “Acute lead poisoning can be deadly, and even low blood lead levels in children, who can digest flecks or inhale dust from old lead paint, are associated with lifelong cognitive deficits and attention-related behaviors. Researchers estimate the ongoing damage caused by childhood lead poisoning in the billions.” (Commercial Observer)
- We Mastered Zoom From Home. Just Wait for Hybrid-Office Zoom. “During the pandemic, companies across the U.S. grew accustomed to meeting exclusively on video calls. But with more workers returning to their offices part-time, often on schedules with minimal overlap, many are finding themselves increasingly thrown into meetings that mix in-person and remote attendees.” (The Wall Street Journal)
- US to reopen land borders in November for fully vaccinated “The new rules, announced Wednesday, will allow fully vaccinated foreign nationals to enter the U.S. regardless of the reason for travel starting in early November, when a similar easing of restrictions is set to kick in for air travel into the country. By mid-January, even essential travelers seeking to enter the U.S., like truck drivers, will need to be fully vaccinated.” (The Associated Press)
- Morgan Stanley In Talks For Build-To-Suit Office Campus Outside Atlanta: Sources “Morgan Stanley is in talks with developers for a 150K SF build-to-suit development in the North Fulton County submarket, sources familiar with the search tell Bisnow. The investment bank, which already has a sizable footprint in the region, has discussed eventually occupying an office campus larger than 500K SF, the sources said.” (Bisnow)
- Stop & Shop introduces 30-minute express delivery service “Stop & Shop is partnering with Instacart to launch Stop & Shop Express. The new Stop & Shop Express offering allows customers to shop for an assortment of more than 30,000 groceries, convenience items, and other household essentials delivered in as fast as 30 minutes.” (Chain Store Age)
- San Diego’s Other Bad Real Estate Deal Is Even Worse Than We Thought “The city is now gearing up to spend $15 million to salvage a facility it leased four years ago, a warehouse where city crews could service fire trucks. It still has yet to do that at the site. The city now acknowledges it never explored options besides leasing space for a maintenance facility.” (Voice of San Diego)
- The Ground Lease as a Financing Tool Advances Beyond New York “Fundamentally, building owners — be they retailers, office landlords, multifamily operators — make their money by conceptualizing, positioning, repositioning and otherwise running their properties to attract and retain tenants.” (Commercial Observer)
- Cathie Wood says the exodus from expensive cities will keep a lid on inflation “During the coronavirus pandemic many people left densely populated cities. Working from home meant a company's workers didn't have to all be in the same place, while many people wanted more space and greenery. Human resources company ADP found at the start of this year that 30% of remote workers in the US had changed their living arrangement during the pandemic, while another 29% were considering a change. (Insider)
- How NYC’s top real estate law firms got creative in an unusual year “Some deals in the making before the pandemic still went through, while others, especially those for retail or office buildings, went nowhere. Werner said he’s held onto the documents in case he ever needs them again, but has kept himself busy in the meantime by facilitating transactions for more resilient assets, such as industrial and life science properties.” (The Real Deal)
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