CRE News & Reading: Week of 8/3 – 8/7
- 7 kingmakers in real estate
“There are innumerable lists of tech power players, but the world of Real Estate is brimming with equally brilliant academics, shrewd deal-makers, and hungry entrepreneurs with amazing stories to tell.” Well said, Mr. Nav Athwal. Here’s his list of the seven sharpest minds in real estate right now.
- What’s hot, what’s not in office leasing so far in 2015
CoStar took a look at the top 50 office leases signed in NYC in 1H’15. Financial firms lead the pack, signing 21 of the 50 leases. At a distant second, law firms signed only seven. But, it’s New York, so it makes sense that these are the lease leaders. Overall, the total square footage leased dropped by 33% from the same period last year.
- Industrial’s biggest change over the past 15 years?
Industrial space has undergone some dramatic growth in the past 15 years. Literally — the average industrial space has gotten bigger and taller. Clear heights are rising, which is allowing companies to maximize cubic storage capacity and accommodate more pallet positions within each facility.
- South Street Seaport to “be a one-of-a-kind destination”
South Street Seaport took a beating during Hurricane Sandy. But, Howard Hughes Corporation saw opportunity through the storm and has set out to transform the spot into an even grander attraction. HHC’s Lincoln Palsgrove talks about the plan to create the seaport into a “unique retail destination.”
- REITs gain 5% in July after solid Q2 earnings
July was a good month for REITs, during which they reported a 5% gain. The growth ended three months of decline, and helped “reaffirm fundamentals in the sector.” Self-storage was the best performing sub-sector, realizing 11.5% growth.
- C&W partners with NYU to give real estate support for start-ups
It’s no secret that New York real estate is some of the most expensive in the world. And, for small start-ups, that cost can be prohibitive to growth and development. To help alleviate some of that pressure, CushWake has partnered with NYU’s start-up incubator to “provide real estate advising on finding and leasing the right space for new companies looking to leave the university’s incubators.”