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When Jessica Musick was 18, she had no idea she would end up being an architect in the San Francisco Bay Area. During her freshman year at Cal Poly, San Louis Obispo, she knew she wanted to do something creative and work in teams so she chose architecture as her major. 
No other class was quite like her introductory architecture class. She had to bring her tools of pens, markers and tracing paper. It was when she started to create physical and digital models that she started to feel her growing love of…
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Construction Underway At CIM Group Apartment Complex At Jack London Square
CIM Group has begun construction of a new apartment complex at Jack London Square in Oakland. The 333-unit complex expected to deliver in 2020 will be at 40 Harrison St. bounded by Embarcadero West and Alice and Harrison streets. The…
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Ex-Uber CEO To Invest $150M In Startup Focused On Distressed Real EstateAfter recently launching 10100, a real estate-focused investment fund, former Uber CEO Travis Kalanick has announced the fund will be investing $150M to take a controlling interest in a startup focused on redeveloping distressed real estate assets. 
Kalanick will also act as CEO for the Los Angeles-based company, called City Storage Systems, moving forward. City Storage Systems is composed of two business units, CloudKitchens and CloudRetail, and focuses on repurposing assets like vacant parking lots and abandoned industrial…
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CRE's Wage Gap Could Be Hurting Businesses' Bottom LinesWhen Savills Studley Executive Vice President Lisa Davidson started out in commercial real estate in 1985, the opportunities seemed endless. “In the beginning, I'd hear older women talk about the glass ceiling and I'd think, ‘What are you talking about? There's no glass ceiling!'” said Chicago-based Davidson, who was appointed to the Savills' board earlier this month. “But as you move up in an organization, and as you become more successful, you start to feel it.” Although the Equal Pay Act was signed into law 55 years ago, women in full-time work still earn less than men in almost every single industry across the United States. In commercial real estate, women pull in a median wage of $115K, compared to $150K for men, according to Commercial Real Estate Women Network's most recent benchmark study, released in 2015. That works out to be an average income gap of 23.3%. |
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On Edge: Commercial Real Estate Professionals Remain Cautious About Future Rate HikesAs the Federal Reserve's monthly two-day meeting nears its close, commercial real estate professionals are awaiting clues about future rate hikes, which can lead to higher borrowing costs and tighter construction financing. With this being new Fed Chairman Jerome Powell's first meeting, some say it could shed light on future plans for monetary tightening — when the Fed boosts interest rates to make it more expensive to borrow money. |
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