Real Estate Latest News

A quick glance to the latest news on commercial real estate. Everything you need to know to be ahead of the game.

Is WeWork launching its first retail store?

WeWork makes retail debut with its first store located in 205 Hudson in Lower Manhattan. The shop offers unique items including snacks, office accessories, WeWork-branded apparel, and products created by some of their members.

“WeWork will help our members to reach new audiences and customers,” WeWork Brand Officer Julie Rice said in a statement. “As brick-and-mortar retail is disappearing, our WeMrkts will offer our members an entirely unique channel of distribution.”

Projects to expand to other locations nation wide are currently being planned.

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“Green” is the trend in office buildings

Metropolitan office markets all around the globe are increasingly adopting green building certification programs. In fact, 18.6% of space in 10 markets across Australia, Canada, and Europe are now certified “green” versus only 6.4% in 2007.

Nevertheless, Canada is setting the standard, with 51.6% of the space in Vancouver certified as “green”, and 51% in Toronto. This is due to the various projects being held at the moment, like upgrades on existing class A buildings to earn green certifications. Great news to highlight, given the fact that Vancouver is planning to become the greenest city in the world by 2020.

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A new story for Pacific Union International

Pacific Union International, a San Francisco firm that focuses on luxury residential properties, launched Pacific Union Commercial in Los Angeles. This new commercial property will focus on different aspects like retail, hospitality, multifamily and office properties.

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WeWork’s new ally: One Central Plaza

WeWork will be the new anchor tenant in One Central Plaza in 2019. The coworking space will be operating on eight floors and is aiming to create a dynamic streetscape towards College Green, Fownes Street, and Cope Street, to establish a link between the key retail and tourist destinations.

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Real Estate Latest News
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