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November 25, 2020

After Sweeping WFH Pronouncement, Synchrony Puts 200K SF Atlanta Office Up For Sublease
[In-Person Event] Join Bisnow's State Of Atlanta CRE In Colony Square Mall & Discuss The Future Of Atlanta Commercial Real Estate With All-Star Speakers Dec. 3

Last month, the CEO of Synchrony Financial announced that all of her firm's more than 16,000 employees would be allowed to work from home. The move would allow the consumer financial services company to reduce its global office footprint and save on real estate costs.

That decision's ripple effects have reached Atlanta.

After Sweeping WFH Pronouncement, Synchrony Puts 200K SF Atlanta Office Up For Sublease

Synchrony has placed its 203K SF office building in Alpharetta on the sublease market, Bisnow has learned. It is the largest block of sublease office space in Metro Atlanta, according to CoStar.The firm is offering all of 4125 Windward Plaza, a five-story office building in the…

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Cousins Files Permits Laying Groundwork For Expanded Parking Deck And Park At Capital City Plaza
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Cousins Properties is seeking to gussy up a trophy Buckhead office tower with more room for parking, extra retail space and a manicured park. The Atlanta-based REIT, one of the largest office landlords in the metro area, filed a permit with the city of Atlanta to add…

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Waiting For Conditions To Improve Could Compound Problems For CMBS Lenders In Struggling Sectors

The coronavirus pandemic has decimated retail and hospitality buildings’ cash flows and thus their owners’ ability to pay back their loans.

Commercial mortgage-backed securities backed by retail and hotel properties have gone delinquent and been sent to special servicing this year at a higher rate than ever before. Until the property owners either get some form of financial relief from the federal government or the economy returns to pre-pandemic conditions, the situation has little hope to improve.

Trying to wait out the market slowdown or fight through the difficulties for too long can actually worsen the problem. In some cases, CMBS bondholders will never recoup the losses they are incurring right now, and the pain in the market could affect the investment landscape for years. 

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Origin Stories: Amanda Clack’s Journey Has Taken Her From Classical Pianist To CBRE Via 10 Downing St.
 

This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success.

CBRE Executive Director and Head of Strategic Consulting Amanda Clack has had a passion for real estate since childhood — but for a while, a career in music rivalled one in real estate. 

The concert hall’s loss has been property’s gain in an advisory and businesses transformation specialist who now sits on the agency giant’s UK board, and who during her career has been a key adviser to the office of the UK prime minister and was only the second global president in the 135-year history of the Royal Institution of Chartered Surveyors.  

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