Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
Wall Street Journal
The coronavirus pandemic has thrown property markets into turmoil, but investors keep buying up warehouses. Real-estate investor BentallGreenOak paid $164 million this month for a warehouse in Franklin Township, N.J., one of the largest single-asset industrial property sales of the year.
Wall Street Journal
The pandemic that hit New York’s hotel industry harder than any other U.S. lodging market is expected to leave thousands of rooms there closed permanently, as the city starts to reopen after months of lockdown. New York hotels went into the coronavirus crisis suffering from falling occupancy and room rates, mostly because of a glut of new development. Now travel restrictions and a tattered economy brought about by Covid-19, the disease caused by the new virus, have aggravated an already-bad situ…
Wall Street Journal
San Francisco’s reign as the tech capital of the Bay Area suddenly looks in doubt. For the past decade, San Francisco has outshined Silicon Valley in attracting new technology firms, entrepreneurs and younger employees, who tend to prefer the city’s lifestyle and attractions to the suburbs. Now, that trend shows signs of reversing. Office demand has been falling in both markets, as the coronavirus pandemic, slowing economy and the early success of work from home have caused firms to reconsider o…
Bisnow
According to the World Health Organization, contact tracing — along with testing — should be the “backbone of the response” in order to slow the spread of the novel coronavirus. The Centers for Disease Control and Prevention agrees.
Venture Beat
AI jobs growth is slowing as a result of the pandemic. That’s according to a newly published report compiled by LinkedIn’s Economic Graph Research Insights team, which looked at the health crisis’ implications for the most impacted sectors.
Bloomberg
Amazon.com Inc. is deploying software in its warehouses to automatically warn employees when they’re too close to colleagues, the latest effort by the retailer to adjust its facilities to life with the coronavirus.
prfire
ootBox, a company that builds and leases temporary spaces manufactured from cargo containers, announced that it raised $870,000 in seed funding. This seed stage equity round was led by venture capital firm i-Hatch Ventures, with participation from Bolt Ventures and Island Capital. This funding will accelerate ootBox’s production in Columbus, Ohio and help further scale the product. …
The Real Deal
EasyKnock, a startup that buys homes and rents them back to sellers, has raised $20 million to scale up at a time when it is predicting homeowners will need access to home equity.
Michael Beckerman
As a serial entrepreneur, I have been around for many extraordinarily challenging market cycles as well as every imaginable crisis, many of my own making. And yet, the pandemic was the toughest period I have ever personally lived through. And while we as a society are clearly making progress, we are still fighting through it and have a long way to go. The human toll caused by the pandemic was heartbreaking, especially living in the New York/New Jersey area. And the economic toll, the speed a…
The Real Deal
Realogy is dropping a lawsuit it filed against Compass and a former employee so that it can focus its energies on a bigger case against its competitor. Last year, Realogy sued Compass and a former finance employee who allegedly broke a non-compete and shared private documents with the startup brokerage. …
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