Vaccination Sites Providing Small Respite For Struggling Properties

A private equity firm is betting on an anticipated biomanufacturing boom, buying a Sanofi Genzyme distribution facility in Central Massachusetts. An affiliate of Wheelock Street Capital purchased 11 Forbes Road in Northborough last week from Chicago-based investment company Capri EGM for $33M, according to Worcester County land records. The 250K…

Read Full Story

Multifamily owners might have been spared the pandemic pain of their retail and hotel peers, but 11 months into the coronavirus pandemic, they have been beset by rising maintenance costs, rent concessions and tenant turnover, eating into their margins and stretching their budgets.

Read the full story here.

In Case You Missed It...

Although the widespread and sudden shift to remote work early last year was a shocking change, a pre-existing movement toward more flexible work options was already well underway, making some companies better positioned to weather the upheaval.

The short-term outlook for the future of workplaces, particularly offices, is marked by uncertainty as the recovery from the coronavirus pandemic continues. Recent data paints a dim picture of market strength with a national office vacancy rate at 14.2% in December 2020, according to a Yardi Matrix report. All cities tracked were above 10% vacancy, with Houston topping out at 22.1%. Bay Area office vacancy was 14.3%. With market turbulence expected to continue at least through midyear, questions swirl about what the future holds for office product.

A focus group of 32 office owners, occupiers and placemakers conducted by Cushman & Wakefield along with George Washington University’s Center for Real Estate and Urban Analysis, revealed that above all, flexible and adaptable work environments are the defining feature of future workplaces. In their report, Workplace Ecosystems of the Future, the authors found that though the focus group participants rated the work-from-home experience as “better than expected” with high productivity levels, many workers are missing the culture and collaboration that drives innovation in in-person environments.

Read the full story here.