Gray TV CEO Says Assembly Film Campus With NBCUniversal Will Be Georgia 'Icon'

Atlanta developer Pope & Land Real Estate is launching its latest office building at Northwinds Summit with a tenant in tow. Pope & Land, in a partnership with Sumitomo Corporation of Americas, is scheduled to break ground on 2000 Summit Place, a 60K SF office building that will deliver by…

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FedEx delivered a package of poor financial figures to investors this month, the latest warning sign that the e-commerce boom that drove the industrial market during the pandemic is disappearing.

The company now plans to close over 100 facilities and evaluate more potential cuts as it aims to right the ship. Coming as industry leader Amazon also pulls back from its rapid warehouse expansion, FedEx's struggles could further weaken demand in an industrial market that continues to build at a record pace. 

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For the leaders of some of the biggest investment vehicles in commercial real estate, the matter of whether the U.S. is on the verge of a recession is no longer a question of if, but when.

Less than 24 hours after the Federal Reserve lifted interest rates by 0.75 percentage points, fund managers and other finance executives gathered at Bisnow's National Finance Summit at 780 Third Ave. in Manhattan. KKR Head of Real Estate America Chris Lee said that his firm is now predicting some form of mild recession in 2023.

“It's gonna be an interesting time on the optimistic side, but also a time where values will continue to deflate in the short term,” Lee said. “I think there will be some people forced to, maybe not trade assets, but will need some sort of structured capital.”

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Morgan Malone was named managing director of Farpoint Development in December and is overseeing the $3.8B Bronzeville Lakefront megadevelopment in Chicago. At 28 years old, she is one of the city’s youngest managing directors in the commercial real estate industry, and she brought with her a background in labor organizing and a passion for developing communities to create a more equitable society.

Malone said investors are too quick to write off some neighborhoods as poor investments.

“We should be willing to be bold and reimagine the markers for success as central business districts become increasingly crowded and expansion into adjacent communities continues,” she said.

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