Stephen Newbold, National Director of Office Research for Colliers International reported that in Q3 of 2020 the United States experienced 33.5 million sf of negative absorption and office subleases in the US hit a record at 168.8 million sf. This is more distressing than we experienced during the Great Recession. The bad news was…Read More→

  A number of large office users have delayed the return to their offices until mid-2021, while others have told their employees they can work remotely permanently. Facebook and other major players have allowed their employees to relocate to lower-cost regions, some taking a pay cut but still saving substantially over their previous San Francisco…Read More→

The downtown San Jose Google 79-acre development currently in planning stages will have 5,900 residential ‘dwelling units’, 500,000 square feet of retail stores, restaurants and cultural buildings, and 7.3 million square feet of office space. In the old days this might translate to 35-45,000 employees, and after Covid is gone may again be at this…Read More→

Nikkei Asian Review just reported that Fujitsu will cut their office space in Japan in half over the next three years. Teleworking will be made a standard practice, and Fujitsu has introduced a policy that will limit the number of employees in the office at any one time to just a quarter to its total….Read More→

In National Real Estate Investor June 2020 Elaine Misonzhnik writes on page 3, “The virus might be with us indefinitely. (The World Health Organization has predicted it might take up to five years to get it under control.) And to declare the end of cities, decide that everyone should work and learn from home permanently…Read More→

“declining oil prices hurting the Russian and Middle-Eastern zillionaires”

Bloomberg News Banks around the world are unveiling the biggest round of job cuts in four years as they slash costs to weather a slowing economy and adapt to digital technology. The 2019 cuts bring the total for the last six years to more than 425,000. In fact, the actual amount is probably higher because…Read More→

“WeWork may have been pulled back from the edge of insolvency by its biggest investor, but many of its landlords are still preparing for a worst-case scenario…Multiple potential WeWork lease deals in New York City are said to be canceled or halted, and scores of possible deals in London are now in jeopardy as WeWork…Read More→

WeWork has 528 locations in 111 cities in 29 countries as of June 2019. Before its valuation collapsed from 48 billion to 20 billion during the past month, it had identified 280 additional cities as targets. In 2018 it lost 1.6 billion and the first six months of 2019 it lost $690 million. “Landlords have…Read More→

According to Asia Now: The China Edition, Matthew Asia’s 2019 report, among Chinese millennials 88% shop online more than once a week, there are 1 billion smartphone connections in China, 98.6% of internet users accessed the web via a mobile device, their middle class was 4% urban population in 2000 and in 2018 was up…Read More→