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June 21, 2021

Travel Is Taking Off Again, But Airport Retail Still Struggles With Staffing And Debt

[In-Person] CIM Group VP Nick Garzia unpacks $5B master plan for downtown Atlanta’s Gulch June 29

Airport foot traffic has been ticking up across the U.S. since the beginning of the year, reflecting a growing number of fully vaccinated travelers and public confidence in the decline of Covid-19 cases and deaths across the country.

It’s a welcome change for airport retail and restaurant operators, who took a major hit from the coronavirus pandemic in 2020. But even as sales continue to ramp up, concessionaires are struggling to find enough staff to open all their stores, let alone keep them staffed for the long hours traditionally required by airports.

“Just the callbacks, and staffing at a rapid pace that's quick enough to ramp up to the airports' recent increase in traffic, has been the biggest challenge,” Crews Hospitality President and CEO Nick Crews said.

Travel Is Taking Off Again, But Airport Retail Still Struggles With Staffing And Debt

Passenger volumes through U.S. airports have been rising since the beginning of the year, but received a noticeable bump around mid-March, when people opted to travel for spring break. That upward trend has continued into summer, which is typically the busiest period for travel.The U.S. Transportation Security Administration screened…

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AT&T Buys CNN Center From State To Pave Way For Impending Sale

A telecommunications giant, in the process of spinning off WarnerMedia, has purchased the ground beneath its feet at CNN Center.

AT&T Buys CNN Center From State To Pave Way For Impending Sale

AT&T, which owns Turner Broadcasting Systems through its 2018 purchase of WarnerMedia, acquired the land and air rights from the state of Georgia for $18.8M. WarnerMedia subsidiary CNN Center Ventures acquired the land, which it leased from the state in April 1973 in order to develop the iconic Downtown Atlanta property, according to deed…

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Upper Westside Video Production Company Buys Own Facility

Upper Westside Video Production Company Buys Own Facility  

The rampant growth of a marketing and video company targeting law firms has prompted its CEO to buy its own office building in Atlanta's Westside. Crisp Video Group purchased 1874 Defoor Ave., a 50K SF former brick warehouse building in the Upper Westside, 2.5 miles…

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Here’s What Could Have Happened If The Pandemic Struck In 1990

Here’s What Could Have Happened If The Pandemic Struck In 1990  

It’s something you hear people muse on often. Wow, as bad as the coronavirus pandemic has been for lives and livelihoods, imagine if it had hit 30 years ago, or even 10. At least we have the technology that means some people can work from home, saving lives and keeping parts of the economy going that could otherwise have failed. 

One set of academics took this beyond idle speculation. They created a model that used data to estimate how prevalent working from home would have been if the pandemic had hit in 1990, the impact on workforce productivity, how this might have affected commercial real estate rents and the wider impact on society. 

The counterfactual was part of a wider paper produced by Rutgers Business School professor Morris Davis, University of North Carolina-Chapel Hill associate professor Andra Ghent and University of Wisconsin-Madison associate professor Jesse Gregory that looked at…

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