$152 million worth of industrial real estate traded last week (Credit: Google Maps) L.A.’s industrial market had a hot streak last week: within just three days, four properties traded hands for a combined total of $152 million. Three of the transactions were for properties in the Gateway Cities area, along the Interstate 5 corridor in […]
Could McDonald’s franchise model help IWG beat WeWork?
(Credit: iStock) IWG, the world’s largest flexible-office provider, is now turning to McDonald’s for inspiration on how to ward off competition from WeWork. The Swiss firm, which has about 555,000 workstations globally, is planning to roll out the franchise model pioneered by McDonald’s back in the 1950s in a bid to accelerate its growth, according […]
French billionaires Arnault and Pinault pledge 300M euros to rebuild Notre-Dame
Bernard Arnault and François-Henri Pinault and the Notre-Dame Cathedral (Credit: Getty Images) A pair of French billionaires are among those who are pledging hundreds of millions of euros to rebuild the fire-ravaged Notre-Dame Cathedral in Paris. Bernard Arnault, chairman and chief executive of LVMH Moët Hennessy Louis Vuitton SE – a major investor in Miami’s […]
How some execs are making money off assets they don’t even own
Vornado Realty Trust chairman Steven Roth (Credit: Getty Images) Vornado Realty Trust’s Steven Roth is not just one of New York’s top commercial landlords. He is also one of its top collectors of dividends from shares he does not own. Vornado made $463,000 worth of such payments to Roth last year, which equals almost half […]
Compass Commercial has done just “a handful of deals” since its launch
Adelaide Polsinelli and Robin Abrams of Compass with the Compass Global Headquarters at 90 Fifth Avenue (Credit: Google Maps) Nine months after launch, Compass’ commercial division is yet to make its mark on the New York commercial market. Instead, the brokerage says it is spending 2019 “listening to” its commercial agents before charting out the […]
US retailers have closed more stores this year than all of 2018
A rendering of the Empire Outlets shopping center in Staten Island Retailers sent out 2018 on an optimistic note, with strong consumer spending and an unexpected comeback of brick-and-mortar stores. But 5,994 stores have closed in the U.S. so far this year, more than last year’s total of 5,864, the Wall Street Journal reported, citing […]