Newmark Group, Inc. Acquires Innovative CRE Workflow Solutions Provider Workframe, Inc.

NEW YORK, Oct. 2, 2019 /PRNewswire/ — Newmark Group, Inc. (NMRK) (“Newmark”) (the “Company”), which operates a leading, global, full-service commercial real estate (“CRE”) services business, Newmark Knight Frank (“NKF”), today announced that it has acquired the innovative workflow solutions provider Workframe, Inc. (“Workframe”). The Workframe software tool is a workflow solution that was built to address the unique complexity of the CRE project lifecycle. Newmark’s strategic acquisition of …

Quicken Loans Becomes the First Mortgage Lender With Ability to Perform eClosings in All 50 States

DETROIT, Oct. 7, 2019 /PRNewswire/ — Detroit-based Quicken Loans, America’s largest and most tech-forward mortgage innovator, is now the first lender to develop the capabilities to perform electronic mortgage closings (eClosings) in all 50 states. Since completing its first eClosing in November 2017, Quicken Loans has completed 96% of all electronic mortgage closings in the country, according to the company’s volume registered with the Mortgage Electronic Registration Systems (MERS) eRegistry….

WeWork leases in Soho, Flatiron most at risk: report

WeWork’s recent struggles could put many of its leases in jeopardy. But according to a new report, its Soho and Flatiron deals are the most vulnerable if co-working rates drop. The company’s lease obligations are only 2 percent below market rate in Soho and 4 percent below in Flatiron, the report from Ackman Ziff says. The firm’s average rent in Manhattan is $58.91 per square foot, 20 percent below the average rate of $74.15. Its highest concentration of space is in the Financial District,…

NAIOP New Jersey to Present The Future of Mobility: Autonomous Vehicles & Parking Trends

Fully autonomous vehicles may be a few years down the road in New Jersey, but now is the time to prepare. Industry and municipal leaders will discuss the potential impact of this sea change on commercial real estate, transit hub development, parking costs and other issues affecting businesses and communities throughout the Garden State.

Electric Roads Could Be a Path to a Driverless Future

BEIT YANNAI, Israel — Electric vehicles can significantly reduce greenhouse gas emissions, at least in theory. But challenges to wide acceptance remain significant: Batteries are expensive, charging stations are few and far between, and recharging takes far more time than a fill-up at the pump. A technological breakthrough is needed, and many companies are working on ways to make charging faster and travel range longer. Advances have been frustratingly slow….

WeWork Investors Turned Off by ‘Sloppy’ IPO Filings

The more investors learned about WeWork, the less they liked it. The details that were wrong or omitted from its financial disclosures played a part in weakening investor appetite and will pose risks if the company ever tries to go public again. WeWork parent We Co. misstated the number and cost of the working desks it set up in the first half of the year when it first filed in August to go public. The company also omitted information about its governance, including that its then-Chief Execut…

NYC seeks to rein in keyless technology in apartment buildings

City officials believe the key to regulating smart lock companies is, well, requiring traditional keys. A new City Council bill seeks to require landlords to provide tenants with physical keys to their apartments — as well as to exterior building entrances — that don’t rely on the use of technology. The measure also specifically defines a key as a “piece of shaped metal with incisions cut to fit the wards of a particular lock.”

Via is launching an on-demand public transit network in the city of Cupertino

Shuttle startup Via  and the city of Cupertino are launching an on-demand public transportation network, the latest example of municipalities trying out alternatives to traditional buses. The aim is for these on-demand shuttles, which will start with six vans branded with the city of Cupertino logo, to provide more efficient connections to CalTrain and increase access to public transit across the city. The on-demand shuttle service, which begins October 29, will eventually grow to 10 vehicle…

Two Potential Boston WeWork Deals Called Off

WeWork’s path to becoming Boston’s largest office tenant has hit two roadblocks. Two Boston landlords have pulled out of negotiations with WeWork, multiple sources familiar with the talks told Bisnow. The separate decisions come as the coworking company is in a murky financial state following its heavily criticized and since-withdrawn IPO.

Consulting giant McKinsey to open high-tech store at Mall of America (updated with photo gallery)

McKinsey & Co., the worldwide consulting firm, will open its first retail store in the Mall of America in Bloomington on Friday.

The store, called Modern Retail Collective, won’t be your usual mall shop either. McKinsey is effectively subletting the space out to retailers in the beauty and fashion world to show off products, according to a Mall of America news release.