Commercial real estate investment fell across the U.S. in the year since the coronavirus pandemic began, with Houston, Seattle, New York and San Francisco seeing the biggest declines. Greater Los Angeles was the top recipient of CRE investment, with more than $30 billion in deals in the 12-month period ending in March, according to a new report from CBRE. That’s a 39 percent year-over-year decline, less severe than the 57 percent drop in Houston, the
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The Real Deal’s May issue is live for digital subscribers and soon to hit doorsteps across the country. Social justice and a post-pandemic market resurgence are front and center in this month’s issue. Tenants’ rights advocates are rallying for housing equity and once-sluggish sectors of the industry bubbling back to life. Entering a summer that will represent both a return to normal and continued evolution, editor-in-chief Stuart Elliott posits in this issue’s editor’s note, “What’s
Financial technology firm Chime is in talks to sign the biggest office lease in San Francisco since the start of the pandemic. The company is nearing a deal for about 200,000 square feet at Hines’ 101 California Street in the Financial District, according to the San Francisco Business Times. The lease is for part of the 48-story building’s smaller podium section. It’s not clear whether Chime would leave its nearby headquarters at 77 Maiden Lane
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A company with funding from a Peter Thiel–backed venture capital fund wants folks to pack up and start a semi-autonomous city. Bluebook Cities is looking for 2,000 people — selected based upon applications — to “settle” its charter city, according to the New York Post. The company said it is “building the city that Silicon Valley deserves.” The concept of the charter city was conceived by Nobel Prize–winning economist Paul Romer, who used Hong Kong
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