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December 17, 2020

Second Lockdown Lessons From World Cities That Just Went Through It

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As New York leaders warn that the state will likely return to the harsh lockdown measures of the spring — and other parts of the country face a similar fate as coronavirus cases and deaths reach new records — business owners abroad who have gone through multiple shutdowns help paint a picture of what may lay ahead.

Second Lockdown Lessons From World Cities That Just Went Through It

Multiple global capitals are in their second or third round of closures as the virus many hoped was at least partly tamed bites back once more. Their real estate businesses have felt the impact in uniquely painful ways, and operators in places like London, Paris and Melbourne — all of which…

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NYC Buildings Reduced Emissions By 22% Over The Past Decade, But Progress Has Slowed

NYC Buildings Reduced Emissions By 22% Over The Past Decade, But Progress Has Slowed  

While New York City real estate has significantly improved its carbon footprint over the past 10 years, its progress is slowing, jeopardizing the city's emissions target, which it views as critical to avoid climate disaster.   Greenhouse gas emissions from the city’s large and midsized buildings fell over 22% since 2010, mainly…

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'It Destroys The Revenue Model': The Rise Of Remote Work Has Crushed Parking Operators

'It Destroys The Revenue Model': The Rise Of Remote Work Has Crushed Parking Operators  

The empty swaths of parking decks and garages during the coronavirus pandemic in commercial properties are more than just evidence that working from home has killed traffic into office buildings, hotels and retail properties.

Those empty garages have huge financial implications on the commercial parking industry. Their operators are facing a financial crisis, laying off thousands of workers, and building owners stuck with unused garages are losing millions and wondering if they should repurpose the space.

“I would think [the impact on revenues] is almost as much as the airports and hotels,” International Parking & Mobility Institute Vice President Rachel Yoka said. "No one is traveling. No one is really commuting." Commercial parking companies have seen revenues drop 70% to 90% since the start of the…

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Large Q4 Rebounds Shrink 2020 Losses For REITs

As 2020 draws to a close, what has been hardly a banner year for real estate investment trusts will end on a hopeful note.

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