Month: July 2021

(iStock) After surging in May, the pace of homes under contract fell 1.9 percent in June — both year-over-year and month-over-month — according to the National Association of Realtors’ monthly index. Lawrence Yun, NAR’s chief economist, described recent ups and downs in the pending sales index as indicative of a “turning point for the market.”…

Converting offices to lab spaces comes with challenges, as some spaces need specific ventilation and upgraded electrical facilities (Getty) While the office market grapples with the Delta variant, life science labs are enjoying a boom. In fact, many new labs are actually conversions from offices. The life science industry saw record investments in North America…

Jared Kushner and his wife Ivanka Trump have a condo in Surfside and an estate in Indian Creek (Getty) South Florida appears to be having an inspirational effect on Jared Kushner. The ex-White House adviser and son-in-law of former President Donald Trump is launching a Miami-based investment firm called Affinity Partners. Kushner has spent the…

GCP CEO Alan Yang (Getty, GCP) GLP Capital Partners has raised $2.3 billion for its logistics property fund, exceeding its goal in a sector that gained strength throughout the pandemic and remains hot. The company announced the final close of GLP Capital Partners IV on Wednesday, saying its target raise had been $2 billion. The…

Alphabet CEO Sundar Pichai and Twitter CEO Jack Dorsey (Getty) Two more major tech companies are dialing back plans for a return to the office, in the latest reaction to the spread of the Delta variant. Google will not be requiring its employees to return to the office until October, with no employees required to…

Demand and prices are rising in the L.A. County rental market (Getty) The Los Angeles County rental market continues to improve. Prices are climbing as the county’s average asking rent ticked up to $2,040 in the second quarter, according to Commercial Observer, citing data from CBRE. That was 3 percent higher than third quarter 2020,…

The Domain in Austin with Simon Property Group CEO David Simon (Simon Property) The following is a preview of one of the hundreds of data sets that will be available on TRD Pro — the one-stop real estate terminal that provides all the data and market information you need. Eight miles north of Austin’s central…

(iStock) Commercial property sales are broadly rebounding to pre-pandemic levels across the country, though the same success isn’t being seen in select markets that dominated before the pandemic. Investors spent $144.7 billion on commercial property during the second quarter, nearly three-times the amount recorded in the same period last year, the Wall Street Journal reported,…

David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty) Hospitality mogul David Grutman and rapper and entrepreneur Pharrell Williams could use some good vibes for their Goodtime Hotel. The hotel, which opened at 601 Washington Avenue in April, is at risk of losing parts of its conditional use permit…

(iStock) A San Francisco condo association that argued some of its owners were being “cooked” inside their homes settled with their building’s developers for nearly $10 million. The ruling, which could have an effect on future construction, blamed the designers of the high rise for failing to account for how hot the west- and south-facing…