Houston Industrial Rents Reach Record Highs As Port Traffic Soars And Supply Chain Woes Linger

Mall giant Unibail-Rodamco-Westfield SE has decided to sell its U.S. retail assets, which might fetch considerably less than the company paid for them, especially the $14B Unibail-Rodamco paid for Westfield and its American mall portfolio four years ago. 

URW CEO Jean-Marie Tritant told investors that the company wants to divest most of its U.S. properties by the end of next year, The Wall Street Journal reports. The company has been planning the exit for more than a year. Paris-based URW values its U.S. mall holdings at…

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The long-awaited return of federal government employees to their offices is now underway, a rollout that is expected to have major implications for Washington, D.C.’s economy, boosting downtown businesses and potentially spurring more private sector office use along with it.

After President Joe Biden said during his March 1 State of the Union address that the “vast majority” of federal workers would be returning to offices “soon,” the government is now giving more clarity on just how soon that will occur. In fact, the vast majority of federal workers are expected to return to their offices at least part time by the end of this month, a spokesperson for the Office of Management and Budget told Bisnow.

The administration has tasked agencies with implementing their own return-to-work timelines, and many of their plans have begun to come to light. According to various media reports compiled by JLL, 15 federal agencies have released return-to-office plans with return dates ranging from Feb. 28 to…

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