Curated daily by our industry experts. Stay informed on how tech is shaping the real estate industry with these important headlines.
TechCrunch
Sidewalk Labs is closing its project in Toronto, the company said in a brief statement on Thursday. “For the last two-and-a-half years, we have been passionate about making Quayside happen — indeed, we have invested time, people, and resources in Toronto, including opening a 30-person office on the waterfront,” wrote Sidewalk Labs chief executive, Dan Doctoroff in a blog post….
Construction Dive
The software as a service (SaaS) provider did not set a date on its initial IPO paperwork filing, but said in the document it would in the near future. In each of the company’s three years of reporting, it’s recorded net losses: $55.5 million in 2017; $56.7 million in 2018; and $83 million in 2019. The number of Procore users, however, has doubled in that time, reaching nearly 1.3 million at the end of 2019. Enterprise clients are able to invite new clients at no additional cost to encourage wid…
Wall Street Journal
As New York prepares to reopen its economy, some upstate factories that have been operating during the coronavirus outbreak have lessons to share on how to keep workers safe.
Bisnow
Some social distancing built into the design is going to need to be an option, though the exact nature of changes isn’t clear yet. “The open-plan hospitality vibe has been central to marketing to a millennial demographic,” The Architectural Team principal Michael Liu said. “But in the present pandemic, it may also be ideal for communicating disease.”
Bisnow
Jamestown, a prominent developer of mixed-use projects, has set up a $50M relief fund to assist small businesses as they prepare to reopen to wary customers emerging from expiring shelter-in-place orders.
Bisnow
Chase Garbarino founded HqO in 2018 as his previous tech company was running out of funds. Boston-based HqO, a tenant experience platform, is his first foray into the commercial real estate world, but the app has taken off quickly. It is used across about 90M SF of CRE in North America, the UK and France, including by Blackstone’s EQ Office at Willis Tower in Chicago. The app connects tenants to food and wellness options, provides access to conveniences like dry cleaning, and streamlines buildin…
Wall Street Journal
At times when shares of Twitter Inc. TWTR -0.75% dipped over the past few years, Silver Lake Co-CEO Egon Durban would make discreet inquiries about buying the social-media company, whose share price has sometimes lagged behind its popularity and cultural significance….
The Real Deal
A source close to the real estate listings portal confirmed layoffs Tuesday in all offices and departments of the Santa Clara, California-headquartered outfit, which is operated by Rupert Murdoch-owned News Corp. subsidiary Move. Inc.
AXIOS
In a matter of weeks, the coronavirus crisis has triggered indelible shifts in the way America works. The big picture: The pandemic is accelerating the onset of new trends in work — toward telecommuting, new office layouts and a different work-life balance. And we’re already seeing signs that these effects will outlast the crisis.
Wall Street Journal
Many Americans heading back to the factory and the office as the coronavirus pandemic eases will soon begin to notice that their every move is being watched or recorded. In Midtown Manhattan, thermal cameras will measure body temperatures as employees file into a 32-story office tower at Rockefeller Center. The building’s owner, RXR Realty, said it is also developing a mobile app for tenants to monitor—and score—how closely their workers are complying with social distancing….
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