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OCTOBER 22, 2019

Top Story

Office

Does Negative Absorption in One of the Nation’s Largest Lab Space Markets Signal an Oncoming Downturn?

By Patricia Kirk, Contributing Writer

For the first time since the Great Recession, occupancy levels for both office space and lab space in the Boston-Cambridge metro markets declined at the same time in the third quarter, according to Aaron Jodka, Boston director of research with real estate services firm Colliers International. Historically, when Boston, Cambridge and surrounding suburban submarkets have experienced negative absorption at the same time, a recession followed, Jodka notes. However, negative absorption in each of the above markets totaled only about 150,000 sq. ft. each in the third quarter, he adds.

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Analysis

Multifamily

The Market Is Still Not Seeing Enough Affordable and Workforce Housing

By Bendix Anderson, Contributing Writer

Developers are likely to finish work on more than 100,000 new or renovated apartments affordable to low-income families in 2019. It will not be enough to satisfy existing market demand. According to Michael Gaber, president of the Affordable Housing Tax Credit Coalition (AHTCC), based in Washington, D.C., more than 10 million households nationwide pay more than half of their income on rent. 

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Sponsored Content

Foreign Investment in Certain U.S. Real Estate May Require Government Approval

Sponsored by Bryan Cave Leighton Paisner

Although foreign investment has been robust over the last few years, investors should consider the potential review of a transaction by Committee on Foreign Investment in the United States (CFIUS).

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NREI Wire

SoftBank Takes Control of WeWork as Part of Bailout, Adam Neumann to Leave Board

Bloomberg

SoftBank plans to buy as much of $3 billion in stock from WeWork’s existing shareholders.

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Nordstrom Preps for Debut in World’s Tallest Residential Skyscraper

Bloomberg

The department store chain will open its first full-price store in New York—in a 320,000-sq.-ft., seven-story space.

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10 Must Reads for the CRE Industry Today

By NREI Staff

Independent hotels struggle as big chains continue to grow, reports The New York Times. Opportunity Zone funds fall short of expectations, according to the Wall Street Journal. These are among today’s must reads from around the commercial estate industry.

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