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April 22, 2020

Gio Midtown Opens During Pandemic: 'Going Great, All Things Considered'

[Webinar] Protecting Your Retail Assets: How Landlords & Tenants Can Work Together To Make It Through These Tough Times April 23

The 39-story, 447-unit Gio Midtown was built to be one of Miami's trendiest new apartment buildings. There's a fifth-floor pool deck, a 4,500 SF gym, a basketball court and a Himalayan salt room.

After 31 months of construction, the building at 3101 Northeast First Ave. began leasing in January, with studios starting at $1,695 per month and three-bedrooms going up to $6,040. But Gio Midtown received its Temporary Certificate of Occupancy from Miami-Dade County just as the coronavirus was peaking, and welcomed its first residents April 15.

Gio Midtown Opens During Pandemic: 'Going Great, All Things Considered'

Gio Midtown General Manager Ashley Wade told Bisnow that so far, the property — which was developed by Chicago-based Magellan Development Group and J.P. Morgan Asset Management and managed by Bozzuto — has rented 38 units, about 8% of the building."It's definitely less than what we thought, but leasing is still going…

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Pressure Mounts To 'Commandeer' Hotels For Coronavirus

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Homelessness in the U.S. was already at crisis levels before the coronavirus hit. When it did, some cities began arranging for people experiencing homelessness to stay socially isolated in empty hotels.   Fort Lauderdale has been doing the opposite. In March, city commissioners voted to crack down on…

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KAR Properties CEO Shahab Karmely: Don't Be Too Cautious

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As we navigate through the coronavirus crisis, KAR Properties CEO Shahab Karmely cautions people about one thing: being too cautious. "Some of the great real estate fortunes of today were built right after the global financial crisis," he said on a Bisnow webinar Thursday. "I was like a deer in headlights in…

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Cannabis CRE Expects 'Extinction Event' And Market Corrections

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Down, But Not Out: Smaller Coworking Firms Grapple With The Coronavirus

HOUSTON — Houston’s first female-focused coworking space, Sesh Coworking, opened its doors in early February. Only seven weeks later, the company was forced to close the space temporarily, as the coronavirus pandemic shuttered businesses and schools across the city.

"It was going great, and then COVID killed our momentum a little bit,” Sesh Coworking co-founder and Chief Creative Officer Meredith Wheeler told Bisnow.

Every workplace is being forced to rethink how to bring people together safely. Coworking, which revolves around the shared use of space, is facing the particular challenge of how to provide a safe environment for many different users who don’t necessarily have a fixed desk.

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My New Normal: CBRE Manchester's Joe Rigby On Kids, Lego And Home-Working Dads

 

This series aims to capture a moment in time, talking to men and women in commercial real estate about how their lives and businesses are being transformed by the coronavirus pandemic.

We've heard of dad dancing, and dad clothes, but is there such a thing as dad home-working?

CBRE Manchester Director of Occupier Services Joe Rigby is, like most of the city’s property industry, working from home. 

But he's not alone because his wife and children are also working from home, which creates new problems and rewards for parents like himself.

Read the full story here.

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Measure For $10B-Plus Tax Hike May Gain Traction With Stressed Local Governments

 

LOS ANGELES —Dedeaux Properties Chief Operating Officer Alon Kraft is worried.

He and other commercial property owners in California are concerned that the current market turmoil could lead to the support of a state ballot measure that Kraft and others say hurts property owners, small-business owners and consumers.

Read the full story here.

 
 
       
 
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