The #tech industry, led by giants from Meta to Google, was behind some of Manhattan's major recent leases and property investments before a slow return-to- #office rate, coupled with economic uncertainty and high interest rates, led to a pullback.
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Robert Millward, a critical architect behind #Toronto 's 30-kilometre underground shopping network, the world's largest by some accounts, recalls the battle Canada's most populous city waged with #Montreal for subterranean supremacy.
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Developer Martin Building Company filed a proposal for a 303-unit apartment complex in downtown San Francisco, among the largest housing projects proposed for the downtown area over the past decade, according to CoStar data.
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Life science company Cell Signaling Technology plans to develop a new research campus at an abandoned rock quarry in coastal Massachusetts, with #architecture firm HGA designing the campus as a net-zero emissions property.
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#Office leasing in the nation's fourth-largest metropolitan area showed a promising start to the year with some of the world's biggest companies such as Caterpillar, Boeing and Invesco committing to their workplace hubs in Dallas.
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Discount chain 99 Cents Only Stores has filed for Chapter 11 bankruptcy protection to wind down its operations and close 371 stores, blaming the economy, high inflation and theft for its financial woes.

Discover the locations of all its stores below.

At the end of June, Rob Hays, the current president and CEO of Ashford Hospitality Trust, will step down, with Stephen Zsigray, the hotel REIT's senior vice president of corporate finance and strategy, taking over as the new president and CEO.
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.WeWork is reaching out to stakeholders including majority shareholder SoftBank as well as 30 other financial institutions for additional financing as the global flexible workspace provider seeks to emerge from bankruptcy protection by the end of May.
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More than half of the top 50 master-planned communities in 2023 were in coastal counties for the third year in a row, a change from past years when developments in places such as Salt Lake City and Washington, D.C., were among the fastest growing.
costar.com/article/269797…

City officials in Montgomery County, one of the most populated areas on the outskirts of Washington, D.C., are eager to fill the region's vacant #office space — and are willing to pay to get tenants through the door.
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D.R. Horton is raising its sales expectations this year after a spring selling season brought year-over-year revenue gains even as buyers grapple with inflation and elevated mortgage interest rates.
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Executives for Prologis warned investors that the company expects demand for its warehouses to slow in coming months as logistics and freight customers cut costs in the face of higher interest rates and other economic headwinds.
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Billionaire investor Ken Griffin, founder of hedge fund Citadel, is moving forward with a plan to build a 1.8 million-square-foot #office tower on New York’s Park Avenue with developers Vornado Realty Trust and Rudin.
costar.com/article/141045…

In and outside San Francisco, luxury retailers stand out against a backdrop of weaker brick-and-mortar demand, largely as a result of e-commence shopping during the pandemic, according to Nigel Hughes, senior director of market analytics at CoStar Group.
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PNC Financial Services Group is facing issues with #office loans, as nonperforming loans in its commercial real estate segment rose 26% to $923 million in the first quarter compared to the prior quarter.
costar.com/article/165706…

Old movie houses became less frequented with the arrival of televisions, VCRs and more recently, internet streaming, leaving some cinemas empty and forcing owners to rethink their properties.

Explore how Montreal has repurposed cinemas for other uses.
costar.com/article/169883…

#Boston 's pipeline of #office -to-residential conversions is getting longer thanks to the city's tax incentive program aimed at easing the burdensome costs associated with transforming otherwise obsolete properties into housing.
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.Samsung Electronics is set to receive up to $6.4 billion in federal funds, complementing the more than $40 billion in private investment it plans for its semiconductor operations in Central Texas.
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Distressed #hospitality and #office deals account for their highest percentages since 2020, while the #multifamily percentage in the first quarter was more than double the average for last year.

Read more here: bit.ly/3Q5slEV

General Motors is preparing to pull out of its longtime spot along the Detroit waterfront with plans to relocate its headquarters back to downtown, the latest major U.S. company to shift its #office space.
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