Articles of the week ending May 3rd
Bungalow Projects, Bain Capital plan production studio for Red Hook industrial site
Bungalow Projects and Bain Capital Real Estate are partnering to build a production facility in the Red Hook neighborhood of Brooklyn.
Flexibility Is How The Office Is Getting Its Groove Back
The future of office demand is shifting towards flexibility and agility, with a wider spectrum of buildings needing to offer more services to attract tenants looking for inspiring workplace experiences.
Off With The ‘Handcuffs’_ How A Noncompete Ban Could Change CRE
A ban on noncompete clauses in the commercial real estate industry could lead to increased competition.
Strong April gives slight boost to struggling Manhattan office market
Manhattan’s office market saw a boost in leasing activity in April, with Midtown South leading the way with the most leases signed.
Vornado Realty Trust is investing $65 million to enhance the area around Penn Station with a new pedestrian plaza, wider sidewalks, and curated restaurants and retailers.
WeWork To Close Corporate Headquarters at Tower 49
WeWork is closing its corporate headquarters in a bankruptcy restructuring and plans to reject its 300,000 square foot lease at Tower 49 in Manhattan.
WeWork to Exit Bankruptcy With Sale to Yardi, Debt Restructuring
WeWork announces deal to exit bankruptcy, shedding $4 billion in debt and receiving $450 million in new financing.