- Everybody Talks About Made in America. But It Isn’t That Simple. “Some sectors, such as electric vehicles, vaccines, semiconductors and renewable-energy industries, are eligible for government support for their reshoring efforts. Industries that don’t get those incentives, however, might find the cost of reshoring outweighs the benefits due to the higher cost of labor, among other things, as well as the need for new infrastructure.” (The Wall Street Journal)
- Urban Office Facing 'Structural Downshift' As Leases End “Meanwhile, suburban properties continue to be more resilient than urban counterparts, with asking rents in the suburbs on average about two-thirds the cost of space in central business districts as of midyear. That has also allowed for the absorption of about half of the space that was relinquished during COVID-19.” (GlobeSt.com)
- These 15 people are shaping the office of the future, designing meeting pods, hologram calls, and buildings that actually make workers healthier “With so much uncertainty, some entrepreneurs and business leaders smell opportunity. Forget a staid old cubicle: People in fields from furniture design to human resources are coming up with fresh ideas.” (Insider)
- The future of the office is a lab “In many ways, it makes sense. Offices and labs both command high rents, and they’re both places people go to work (labs just have a lot more cool stuff inside, like centrifuges and safety showers). A significant amount of the vacant office space is also located in cities where, thanks to their proximity to universities and their ample talent pools, demand for lab space is on the rise.” (Vox)
- SL Green hedges its bets, and that’s no casino pun “The threat to the company’s earnings posed by the economic environment have made ‘interest rate hedging and debt reduction our number one priority for the foreseeable future,’ CEO Marc Holliday said on the real estate investment trust’s third-quarter earnings call Thursday.” (The Real Deal)
- Kushner Cos launches hostile bid for rival Veris Residential “In a letter to Veris board, disclosing the bid, Kushner Cos stated that Veris is ‘being mismanaged’ and that the intrinsic value of Veris' portfolio has been appreciably damaged over the last several years.” (Reuters)
- STR: Weekly US Hotel Occupancy Eclipses 70%, but Still Lags 2019 Levels “Among the Top 25 Markets, Tampa reported the largest increases over 2019 in each of the key performance metrics: occupancy (+17.1% to 80.6%), ADR (+34.6% to $159.80) and RevPAR (+57.7% to $128.85). Tampa has been one of the markets in Florida that have seen a performance lifted associated with post-Hurricane Ian demand.” (CoStar)
- Mall Do’s & Don’ts: Create a city within a city “They want everything at their fingertips--food, entertainment, luxury goods, fitness, and wellness. They want it 24 hours a day. And they don’t want to commute all over town to get it. So you want to create a city within a city.” (Chain Store Age)
- Adaptive Reuse Creates New Schools From Old Buildings “Across the country, schools serving students from early childhood to college level are benefitting from the adaptive reuse of old buildings, in some cases structures formerly used for much different purposes. The adaptive reuse efforts are driven by educators’ changing priorities, an increasing focus on health, fitness and wellness and a desire to use the most environmentally friendly means of creating new schools.” (Forbes)
- NYC Flood Protection Projects Just Getting Underway — 10 Years After Sandy “But the rush to action that immediately followed Sandy is in stark contrast with what the city has accomplished since. A decade after Sandy hit the Big Apple, New York City has not started construction on many of its infrastructure projects. And it has yet to even spend all of its recovery funds, according to an October report from New York City Comptroller Brad Lander.” (Commercial Observer)
- Our buildings are making us sick “There’s a version of Alan’s story that’s playing out again and again, all over the US. Whether we notice it or not, the air we breathe indoors can make us sick. For most of us, it’s not an industrial printer that’s contaminating the air: It could be the pollution from our ovens and stoves or the chemicals off-gassed from everyday household cleaners, or it could be the respiratory diseases exhaled by others we share our spaces with.” (Vox)
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