By John Gittelsohn The value of distressed US commercial real estate neared $80 billion in the third quarter, its highest level in a decade, as rising interest rates and sagging office demand shook the property market. The value of buildings in bankruptcy, repossessed by lenders or in the process of liquidation increased by a net $5.6 […]
by : Austen Hufford A crash in office values could start a doom loop with banks, with falling prices leading to less finance and thus lower prices. Gloomsters think that could spread across the multitrillion-dollar commercial real-estate sector, sucking money out of the economy as banks and institutional investors turn more cautious, James Mackintosh reports. Mori Trust […]
By Andy Medici – Senior Reporter If CEOs want employees back in the office, they need to think beyond productivity alone. That’s according to Annie Dean, vice president of team anywhere at software tool company Atlassian, who said productivity-focused company mandates to bring workers back to the office remain a tough sell to workers who have now […]
By Gail Kalinoski Pharmaceutical and biotechnology company Moderna has acquired a newly built 140,000-square-foot Boston-area GMP facility from developer Oxford Properties Group for $91 million. The 24-acre parcel, acquired as a vacant site by Oxford in 2021, is located at 149 Hayes Memorial Drive in Marlborough, Mass., a Boston submarket. Oxford built a two-story biomanufacturing facility that was designed to […]
By Carol Ryan Banks are getting stingy with commercial property mortgages. Ideally, alternative lenders could step in and help landlords to refinance their debts, but this part of the lending market isn’t in great shape either. Loans for the property industry are drying up fast. The CBRE Lending Momentum Index, a proxy for U.S. commercial real estate lending, fell 54% […]
The delinquency rate on office building-related mortgage bonds spiked in May, per a report from Trepp, Emily writes. The big picture: Investors have been watching for this to happen since last summer — and May’s move may represent a “tipping point,” the data provider said in a note. State of play: The office space market is in a tough spot […]
By Andy Medici A growing number of Americans have used artificial intelligence tools like ChatGPT at work — but won’t tell their bosses because they are afraid of being replaced by the emerging technology. As business owners across America experiment with the new wave of AI tools in hopes of boosting productivity and cutting costs, workers […]
By Andy Medici – Senior Reporter, The Playbook, The Business Journals Small-business owners are worried about how long they could survive a potential recession, but many believe AI tools like ChatGPT could help them weather an economic downturn. A survey of 700 business owners by B2B Reviews found about 25% of businesses believe they couldn’t last more than […]
Josh Schafer – Reporter Wed, May 24, 2023 Wall Street has been waiting for a recession that hasn’t materialized roughly five months into the year. Executives at S&P 500 companies are talking about recessions less on earnings calls for the third straight quarter, per FactSet. S&P Global’s flash US composite PMI showed US economic output reached a 13-month high […]
By James McCown CAMBRIDGE — “In the city there must be regularity and fantasy, relationships and oppositions, and casual and unexpected elements to vary the scene,” wrote Marc-Antoine Laugier, an 18th-century Jesuit and arguably the world’s first architecture critic, having penned the seminal Essai Sur l’Architecture in 1753. His advice holds true today. Cities must be […]
