- Six Months Later, Ukraine Conflict Continues To Impact Data Centers “The Russia-Ukraine War carried immediate consequences for the data center and digital infrastructure space. Most major data center and cloud providers withdrew from Russia, while the war created further supply chain disruptions for everything from microchips to optical fiber cables.” (Bisnow)
- MBA Takes a Stab at Untangling Future of Office Demand “A crucial long-term benefit to more in-office work is the development of workplace capital, the intangible organizational boost that comes from interpersonal connections and communications. The white paper puts it this way: ‘In-person work builds workplace capital while fully remote work stalls the development and hastens the drawing down of that workplace capital.’” (Commercial Property Executive)
- Climate change’s higher tides could threaten $34B of coastal real estate “Recent years saw U.S. real estate soar to new heights, which pale in comparison to the pressure swelling sea levels are predicted to pose to billions of dollars of property in the coming decades.” (The Real Deal)
- New York City Affordable Housing Investment Stagnates Amid Steady Demand “That sales volume is still far ahead of the first half of 2021 when just under $1 billion worth of affordable properties traded hands as the city emerged from the depths of the pandemic. But the slowdown could continue through the year thanks to inflation, rising interest and mortgage rates, and the absence of property tax abatements that can spur development, analysts say.” (Commercial Observer)
- After London Debut, Uniqlo To Roll Out Sustainable Re.Uniqlo Studio “The next Re.Uniqlo Studio will open in its new Battersea Power Station store, due to open October 14. The company has plans to roll out the Re.Uniqlo Studio across more U.K. stores over the next 12 months and a number of European locations later this year.” (Forbes)
- KKR and Blackstone REITs to Benefit From the Credit Slowdown, Analyst Says “A slowdown in the credit markets could lead to upside for two commercial-mortgage real-estate investment trusts in the form of lending opportunities, according to BTIG.” (Barron’s)
- Defining a Work Revolution: Looking Beyond the Return to the Office “More than ever, workplace solutions can be influential in solving today’s complex business problems. It is beyond a footprint and four walls, the workplace connects people, cultures, and ideas to create memorable experiences. Given our current context, we will be facing unprecedented changes in how, where and when work gets done.” (Colliers Knowledge Leader)
- Bloomingdale’s goes all-in on metaverse with new virtual store “Iconic department store Bloomingdale’s is celebrating its 150th anniversary with a new virtual store, designed by Emperia, that will go live during New York Fashion Week, which starts September 9.” (TechCrunch)
- The 40-Year Vision That Revitalized Downtown Chattanooga “More importantly, the South Broad District endeavor represents an expansion of Chattanooga’s wildly successful downtown revitalization over the last 30 years. The Tennessee Aquarium, the Creative Discovery Museum, an IMAX 3D Theater, the Tennessee Riverfront Park, and AT&T Field—the present home of the Lookouts—anchored the redevelopment beginning in the early 1990s.” (Urban Land Institute)
- Rising Rents Are Squeezing Older Adults “In many popular Sun Belt retirement spots, rents have soared even more: by more than 30% over the past year in Sarasota/Bradenton, Miami, Fort Lauderdale and West Palm Beach in Florida and in Tempe, Arizona.” (Forbes)
- Kroger Keeps Ringing the Register “The company also raised guidance for the second straight quarter for both sales and operating profits for its full fiscal year ending early 2023. It now sees identical store sales growth of 4.0% to 4.5%, up from 2.5% to 3.5% at its last update, and operating profit of $4.6 billion to $4.7 billion compared with $4.3 billion to $4.4 billion previously.” (The Wall Street Journal)
- Burger King will spend $400 million to upgrade its reputation by renovating and relocating stores as well as doubling down on ads “Burger King has been in the midst of a major rebrand for several years now. In 2021, the chain overhauled logos and branding for the first time in 20 years, returning to a classic look that emphasized the Whopper and natural colors.” (Insider)
- Remote Workers Enjoy The View From Their New Office: A Major League Ballpark “The Seattle Mariners hosted the first ‘Work from the Ballpark’ game Wednesday at T-Mobile Park, when the team played the White Sox in a midday game, according to Bloomberg. The promotion sold 150 tickets.” (Bisnow)
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