• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

PRESSLED

Your Leading News Source

PRESSLED
Your Leading News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • US
  • Meet the Reporters
  • About/Contact

Power 100, Big Leases and Miami Moves – Commercial Observer

May 23, 2021 by Staff Reporter

This week, for the second time in the COVID era, Commercial Observer published our annual Power 100 edition, which ranks the great and powerful of commercial real estate.

Last year’s edition was produced in a state of advanced hibernation tinged with low-grade dread; the crisis was everywhere and all-consuming. Restaurants, stores, gyms and offices were all closed. When would they open again? It was anybody’s guess.

In November, we saw the first small rays of hope as vaccines were unveiled, but that was quickly dashed as we saw a second surge during the holidays and the death toll climb. On Feb. 12, 5,463 people died of COVID in America in a single day, as per The New York Times — just about double the number of people who died on 9/11.

But something remarkable happened since that low point.

As America went into vaccination overdrive, we’ve been seeing the weekly changes; rather than issuing work-from-home guidelines, there has been a steady stream of getting-back-to-work directives. Brokers are reporting more tours and there has been a rush of optimism.

That was the backdrop for how we came to showcase these particular bigwigs of real estate in 2021 in Power 100.

We wanted people who were looking to the future: proptech, for example; life sciences, too; players who were moving to the Sunshine State; players who had their eye on cannabis, now that New York has legalized it for recreational purposes.

We also explained some of the major issues that the individual Power 100s will have to contend with in the coming year, like where the Biden administration stands on 1031 exchanges.

And we tried to explain ourselves and our thinking in our rankings. We talked about why we jumped some names higher on the list, those who we considered for the first time, and who best embodied the spirit of 2021 thus far. Careful readers of Power 100 will note that we left off two stalwarts, Bill de Blasio and Andrew Cuomo, but we have our reasons. (Speaking of de Blasio, we talked a little about who will most likely be taking the reins now that he’s on his way out and will therefore no doubt land on Power 100 2022.) We also honored those power players who died since our last edition. And, finally, we gave our opinion on the most dubious name in real estate.

All in all it’s a package that could keep you occupied for hours and hours on end…. You probably won’t think about the rest of the real estate news for the rest of the weekend.

Actually, not so fast!

There was plenty of news to catch up on this week, too.

The city released its new zoning proposal for Gowanus, which will open the neighborhood up to more industrial development. That’s pretty interesting news! (Regular readers know that Gowanus rezoning is a fraught topic, especially to the Zoom set.)

Office landlords don’t quite know what approach to take when it comes to masks. Some are taking a more conservative approach than the CDC recommends, keeping rules in place in their buildings.

But one thing that landlords seem in agreement on is the importance of sustainability and good corporate governance in their buildings.

Also, there were leases announced, including one that would make you think it’s the good old days of 2019! St. Francis College announced that they were grabbing 255,000 square feet at the old Macy’s building in Downtown Brooklyn.

Google plans to open its first ever retail store to sell and repair Google products, (read: Nest thermostats, Pixel phones and Fitbits) in a 5,000-square-foot space at 76 Ninth Avenue. (Who knew that carving out a retail space was part of a brilliant plan all along to get their money’s worth on the $1.9 billion they paid for the Chelsea building back in 2010.)

We might be approaching the summer months, but it appears Florida is still attracting New Yorkers. Izzy Englander’s Millennium Management is apparently looking to gobble up 80,000 square feet of office space in Brickell.

But it wasn’t all leases. Hines is thinking big in Washington, D.C., buying a 396,000-square-foot Capitol Waterfront trophy office building. (No word yet on how much they paid.) And in L.A. SteelWave plunked down $80 million for a 150,000-square-foot office in the Arts District.

If that doesn’t give you plenty to read, we give up!

See you next week.

Originally Appeared Here

Filed Under: MONEY, POLITICS, REAL ESTATE, US

Primary Sidebar

More to See

Entrepreneurs mourn loss of Tech Nation

The UK tech community has reacted with an outpouring of shock and sadness upon learning that Tech Nation, the entrepreneur network that has supported … [Read More...] about Entrepreneurs mourn loss of Tech Nation

Live news updates from February 1: Fed lifts rates 0.25 points, Eurozone inflation slows sharply

© APFedEx will cut more than 10 per cent of its global leadership team, adding to the more than 12,000 employees it has shed over the past seven … [Read More...] about Live news updates from February 1: Fed lifts rates 0.25 points, Eurozone inflation slows sharply

N.J. town votes to let redevelopment of former Lord & Taylor site move forward

The Westfield Town Council voted 7-1 on Tuesday to introduce an ordinance that allows for a downtown redevelopment plan to move forward.It will next … [Read More...] about N.J. town votes to let redevelopment of former Lord & Taylor site move forward

Privacy Policy | Terms and Conditions | About/ Contact
Copyright © 2023 · PRESSLED · As Amazon Associates we earn commissions from qualifying purchases · Log in

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT