Power 100, Big Leases and Miami Moves – Commercial Observer
This week, Commercial Observer published our yearbook for the second time in the COVID era Power 100 Editionwhich is one of the big and powerful commercial real estate.
Last year’s edition was produced in a state of advanced hibernation marked by inferior anxiety; The crisis was everywhere and consuming. Restaurants, shops, gyms and offices were closed. When would they open again? It was everyone’s guess.
We saw the first glimmer of hope in November when vaccines were revealed, but that was quickly dashed when we saw a second surge and death toll over the holidays. On February 12, 5,463 people died of COVID in America in a single day The New York Times – – almost twice as many people died on September 11th.
But something remarkable has happened since that low point.
When America went into vaccination overdrive, we saw the weekly changes; Instead of issuing guidelines for working from home, there was a steady stream of guidelines for getting back to work. Brokers are reporting more tours and there has been a rush of optimism.
This was the backdrop to how we featured these particular real estate wigs in Power 100 in 2021.
We wanted people who look to the future: proptech, for example; Life sciences, also; Players who were Moving to the Sunshine State;; Players who had their eye cannabis, well that New York has legalized it for recreational purposes.
We also outlined some of the main issues that each Power 100 will face in the coming year, such as the position of the Biden administration 1031 exchanges.
And we tried to explain ourselves and our thinking in our ranking. We talked about why We have jumped a few names further up the list those we considered for the first timeand who embodies best the spirit of 2021 so far. Careful readers of Power 100 will find that we have left out two stalwarts. Bill de Blasio and Andrew Cuomo, but we have our reasons. (Speaking of de Blasio, we talked a little about it who will most likely take the reins Now that he’s on his way out and therefore will undoubtedly land on Power 100 in 2022.) We also honored the power players who have 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 busy for hours…. You probably won’t think about the rest of the real estate news for the rest of the weekend.
Actually not that fast!
Also this week there was a lot of news to report.
The city published its new zone proposal for Gowanusthat will open the neighborhood to more industrial development. That’s pretty interesting news! (Regular readers know that The recitation of Gowanus is a sensitive issue, especially for the zoom set.)
Landlords don’t know exactly how to proceed comes to masks. Some are more conservative than the CDC recommends and uphold the rules in their buildings.
But one thing that landlords seem to agree on is the importance of Sustainability and good corporate governance in their buildings.
Leases have also been announced, including one that would make you believe it’s the good old days of 2019! St. Francis College announced that they packed 255,000 square feet in the old Macy’s building in downtown Brooklyn.
Google plans to open its first retail store ever to sell and repair Google products (see: Nest Thermostats, Pixel Phones and Fitbits) on an area of 5,000 square meters at 76 Ninth Avenue. (Who knew carving out a retail space was part of a brilliant plan to come up with the $ 1.9 billion they paid for the Chelsea building in 2010?)
We may be approaching the summer months, but it seems Florida is still attracting New Yorkers. Izzy Englanders Millennium Management is apparently looking for Devour 80,000 square feet of office space in Brickell.
But it wasn’t all leases. In Washington, DC, Hines thinks big and buys one 396,000 square foot Capitol Waterfront Trophy Office Building. (No word yet on how much they paid.) And in LA SteelWave crashed $ 80 million for a 150,000 square foot office in the Arts District.
If this doesn’t give you a lot to read, we’ll give up!
Until next week.