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February 1, 2023

New Map Tracing Cook County's Racist Housing Past Could Illuminate Present Day

Deadline Approaching: Nominate A Woman Leading Real Estate In Chicago By Feb. 6
The Chicago Covenants project has released an interactive map of racist restrictions put on Cook County properties in the past century, the first part of a long-term project documenting patterns of housing segregation still visible today.

New Map Tracing Cook County's Racist Housing Past Could Illuminate Present Day

The map, which launched online Tuesday, highlights about 25,000 properties where owners agreed never to sell or rent to Black people during the 20th century, representing about 20% of Chicago. Featuring an interactive timeline spanning 1928 to 1969, the first iteration of the project shows 300 of 1,000 covenants and restricted plats across 100,000 parcels in the…

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Office Occupancy Hits New Milestone As Employers Regain Leverage

A softening labor market and more enforcement of return-to-office policies have brought urban workers back to their offices at the highest level since before the pandemic, offering a glimmer of good news to landlords and downtowns nationwide. For the first time, the occupancy of offices in the 10 biggest U.S. cities eclipsed 50% of their pre-pandemic average, according to data collected for the week ending Jan. 25 by building access technology firm Kastle Systems.

Office Occupancy Hits New Milestone As Employers Regain Leverage

“It was a big milestone, but it was expected from our perspective,” Kastle Systems Chair Mark Ein said in a phone interview. “Since the pandemic receded enough for people to return to normal activities, when it came to return-to-office, the tension was between employers and business leaders who generally want…

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BXP CEO Owen Thomas: Commercial Real Estate Is 'Currently In A Recession'

BXP CEO Owen Thomas: Commercial Real Estate Is 'Currently In A Recession'   While macroeconomic indicators have shown mixed signals about whether the U.S. is entering a recession, the head of the country's largest publicly traded office landlord said the state of the commercial real estate industry is clearer.  "Notwithstanding the running debate on whether the U.S. economy will experience a hard or soft landing, commercial real estate markets are currently in a recession," BXP CEO Owen Thomas said Wednesday morning on the REIT's fourth-quarter earnings call. The Boston-based REIT, which owns 54M SF of commercial real estate across 194 properties in six of the largest U.S. markets, is already feeling the impacts of that recession. Several of the company's largest tenants — including Salesforce, Google, Microsoft and

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EXCLUSIVE: Blackstone Seeks Loan Extension As Market Instability Thwarts £450M Portfolio Sale

EXCLUSIVE: Blackstone Seeks Loan Extension As Market Instability Thwarts £450M Portfolio Sale   Private equity giant Blackstone has asked lenders to extend the maturity of a loan secured against a €513M (£450M) portfolio of secondary offices and shops, Bisnow can reveal, after instability in the market meant the firm could not sell them before the loan expired. A…

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