An op-ed was published in The New York Post yesterday titled More Workers Returning to NYC Office Buildings Than Previously Reported: Study. In it, the author points out that a new study contradicts the most common metric for understanding office occupancy, the access control company Kastle System’s Return to Work...
Brief
Latest news about commercial real estate technology and innovation
New York will become the first state in the U.S. to limit emissions on concrete used in construction projects by state agencies. Governor Kathy Hochul announced yesterday that the mandatory emissions limits, also known as “Buy Clean Concrete,” will go into effect starting January 1st, 2025. The law will apply...
W.P. Carey, a New York-based REIT that has been in business for 50 years, is saying goodbye to the office market. The company announced it will spin off a large share of its office portfolio into a separate, publicly traded REIT as part of an overall office exit plan. W.P....
Michigan-based Steelcase has been manufacturing office furniture since 1912. The company now has just shy of 19,000 employees and sells its furniture in 15 countries. The company, like others that service the office industry, has seen its value plummet since the pandemic. During its last earning report, it reported stronger...
There’s no denying that the U.S. office market continues to struggle, but looking at China’s troubles in the sector helps put the matter in perspective to a certain degree. While office rental rates have continued to rise in the U.S., despite the high post-pandemic vacancies, rental rates in China are...
Global brokerage CBRE has just settled with the Securities and Exchange Commission over allegations that the firm violated a whistleblower protection rule. The SEC took issue with how CBRE required employees to sign a release attesting that they had not filed a complaint in order to receive separation pay. This...
Global real estate services firm CBRE is the latest real estate firm to explore how AI can help boost its business. The Dallas-based firm is experimenting with the technology in various aspects of the company’s businesses—including property management, lease administration, and marketing—to see how it can help speed up productivity...
Despite the Fed’s efforts, the labor market is still hot. That has put a lot of pressure on employers to find and retain talent. This applies to the PropTech industry as well. A recent salary report done but the recruiting firm LMRE gives us some insight into the current sentiment...
New York City officials have updated guidance on Local Law 97, the city’s landmark carbon emissions law, allowing some building owners to avoid costly penalties. The new language is part of the city’s new “Getting 97 Done” plan announced by Mayor Eric Adams this week, a comprehensive strategy for helping...
The pandemic forced many major office-using corporations to allow their employees to work from home. Many used that freedom to move to a new town altogether. Now, many of those corporations have reversed course and are instituting return-to-work policies that bring workers back to the office at least a few...
