Welcome to the real estate blog of Aminoff Realty Advisors. The mission of this blog is to provide meaningful and useful information on the real estate and financial markets. It is our intent to keep you informed about what is going on in the commercial real estate market.
Without the elevator…there could be no downtown skyscrapers or residential high-rises, and city life as we know it would be impossible…the elevator’s role in American history has been no less profound or transformative than that of the automobile…“If we didn’t have elevators…we would have a megalopolis, one continuous city, stretching from Philadelphia to Boston, because everything would be five or six stories tall.”Boston Globe, 2 March 2014
For the tenants and property owners tied to trillions of dollars of commercial real estate properties in the U.S., what happens on April 1 is no joke this year.
Retailers have been closed or their businesses are deeply battered. Companies across sectors have been forced to carry out layoffs or furlough staff, while others have been directly impacted by a virus that has afflicted more than 170,000 Americans to date.
Millions of Americans are already jobless, worried about paying the rent today. And the virus is weeks away from its peak, health experts warn.
Hudson Pacific Properties and Macerich announced today that Google, Inc. has leased the entirety of the 584,000-square-foot office campus, which is to be called One Westside. The 14-year lease is to commence upon the completion of construction and tenant improvement in 2022.
It’s complicated. In the course of compiling its annual Emerging Trends report, the Urban Land Institute found that the only certainty in its outlook for 2019 was uncertainty. Expert analysis points to a more complex, multi-layered series of overlapping trends, with unpredictable results, as opposed to a few strong narratives.
The U.S. has added 10,000 of these budget retail outlets since 2001. But some towns and cities are trying to push back.
It has become an increasingly common story: A dollar store opens up in an economically depressed area with scarce healthy and affordable food options, sometimes with the help of local tax incentives. It advertises hard-to-beat low prices but it offers little in terms of fresh produce and nutritious items—further trapping residents in a cycle of poverty and ill-health.