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February 4, 2021

South Suburban Mayors Rolling Out The Welcome Mat For Amazon, Despite The Costs

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When Sheila Chalmers-Currin became mayor of south suburban Matteson in 2017, she had to govern a village that had seen a portion of its economy gutted. The spread of e-commerce contributed to a steep decline of the retail sector, especially among big-box stores. That hit Matteson especially hard. The village eventually lost its Target store, Sam’s Club, a Toys R Us and others. It even lost its only full-service grocery store when Dominick’s closed in 2013.

It was clear Matteson, like many towns dependent on brick-and-mortar shopping districts, needed a new strategy, according to Chalmers-Currin.

“I was baptized in what can go wrong in retail,” she said. “We experienced what a lot of communities that look like my community have been experiencing. The Village of Matteson was the canary in the mine.”

South Suburban Mayors Rolling Out The Welcome Mat For Amazon, Despite The Costs

She decided that e-commerce, the sector that damaged so much of Matteson’s economic base, was the very thing it needed to rebuild. The predominantly Black village of nearly 20,000 cut a deal, announced in June, that allowed a developer to break ground last year on a 3.8M SF fulfillment center…

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Industrious Set To Take Over 1M SF Of Its Competitors' Abandoned Space This Year

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Coworking operators that lease their locations are going bankrupt or giving back space as they try to survive the coronavirus pandemic, leaving landlords with suddenly unspoken-for coworking spaces in a brutal office leasing market. Industrious — which signs management contracts to operate coworking spaces for landlords, not leases —  is…

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Testing Is The Key To Reopening, And Real Estate Is Gearing Up To Play Its Part

New York is in the early stages of hatching a plan to involve real estate in rolling out more testing across the city, a crucial step for the country's largest economic engine to reopen. While the ambitious rollout may well face a slew of logistical challenges, real estate players are keen to play a role in reigniting the economy that is so crucial to their survival.

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Bisnow Is Looking For CRE Innovators

Bisnow Is Looking For CRE Innovators  

Bisnow is putting together a series featuring the people and companies in commercial real estate who found a way to break new ground in the industry during the coronavirus pandemic. This could take many forms: perhaps a company using new forms of financing or design, a person at the forefront of driving diversity in…

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