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December 1, 2020

Office-To-Residential Conversion Trend Continues With 400-Unit Proposal In Fairfax

[Webinar] How Can Multifamily Cater To The Tech-Savvy But Socially Distant Consumer? Find Out Dec. 2

Owners of aging Northern Virginia office buildings are increasingly looking to convert them to residential, with the latest project planned in Fairfax.

Office-To-Residential Conversion Trend Continues With 400-Unit Proposal In Fairfax

An affiliate of McLean-based A&A Properties filed an application last week with Fairfax County for a conversion project at the Flint Hill office park that would yield more than 400 residential units.The 15-acre site at 3211 Jermantown Road and 10530 Rosehaven St. consists of…

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Metro Proposes Cutting Weekend Service, Closing 19 Metro Stations Amid Budget Shortfall

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The Metro system may be forced to make dramatic service cuts and close more than a dozen stations if federal aid doesn't arrive soon.WMATA General Manager Paul Wiedefeld released a fiscal year 2022 budget proposal Monday that responds to the $495M pandemic-induced funding gap with a series of…

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FTC Moves To Block CoStar Acquisition Of RentPath

FTC Moves To Block CoStar Acquisition Of RentPath  

The Federal Trade Commission has authorized a lawsuit in federal court to prevent real estate data giant CoStar Group from acquiring RentPath Holdings.  The complaint alleges that the deal would concentrate online listings for large apartment complexes even more than…

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Real Estate Shows How Amazon Won 2020

If you want to see what a transformative year 2020 was for Amazon’s e-commerce business, don’t just look at its share price — look at its real estate decisions. 

Black Friday shopping mall foot traffic was down 52%, according to Sensormatic Solutions, but online sales were up 22%, data from Adobe Analytics showed. COVID-19 has turbocharged the move toward online retail, and so Amazon’s real estate take-up has also accelerated dramatically. 

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'Tis Not The Season: CRE Laments Loss Of Holiday Party Circuit

 

NEW YORK CITY — For the last 25 years, the holiday bash thrown by the real estate group at law firm Fried Frank Harris, Shriver & Jacobson has been a mainstay of New York City real estate's social scene, known for attracting the who’s who of industry identities.

But this year there will be no gathering at the Cipriani on 42nd Street for the extravagant celebration — just as there will be no packed-out International Council of Shopping Centers conference after-parties, boozy developer holiday celebrations or broker events.

The winter real estate party calendar, which is usually awash with events to toast the year’s wins and losses, form and solidify relationships and push deals forward, is officially canceled.

“Our whole business is relationships and information,” Compass retail broker Robin Abrams said. “It is in keeping with everything being more challenging. … It’s harder to stay in touch because you are not going to these events, not seeing 10 people at once.”

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