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February 3, 2023

This Week's D.C. Deal Sheet

Rappaport President Henry Foneville Gives Suburban Retail Update March 23
The city of Manassas moved to acquire a key property in its historic downtown on Wednesday, with hopes that it will fuel broader goals for mixed-use, walkable development.

This Week's D.C. Deal Sheet

The Manassas Economic Development Authority voted in favor of acquiring the Olde Towne Inn in the city's historic downtown for $5.75M, following a period of due diligence. Built in the 1960s, the inn is located in the “geographic center” of downtown, the authority noted in a press release.“One of our…

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Top Stories on Bisnow.com

Brookfield Resort In South Florida Changes Hands In Record-Breaking Joint Venture Deal Brookfield Resort In South Florida Changes Hands In Record-Breaking Joint Venture Deal
Google To Incur $500M In Costs Related To Office Space Downsizing Google To Incur $500M In Costs Related To Office Space Downsizing
House Passes Bill Requiring Federal Workers To Return To Their Offices House Passes Bill Requiring Federal Workers To Return To Their Offices
Regus Must Pay $90M To Vornado, Trump For Space It Never Occupied, Judge Rules Regus Must Pay $90M To Vornado, Trump For Space It Never Occupied, Judge Rules
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House Passes Bill Requiring Federal Workers To Return To Their Offices

House Passes Bill Requiring Federal Workers To Return To Their Offices

The U.S. House of Representatives has passed a bill requiring federal government employees return to in-person work, in a vote led almost entirely by Republican officials.If the bill passes the Senate and goes onto become law, federal agencies would have 30 days to reinstate the telework guidelines that were in place prior…

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EXCLUSIVE: Microsoft Stops Work On 90-Acre Atlanta Campus

EXCLUSIVE: Microsoft Stops Work On 90-Acre Atlanta Campus   Microsoft has halted plans to develop a sprawling campus on a large piece of land it bought on the west side of Atlanta.The technology giant “has decided to pause the planning process” on the 90 acres it acquired in the Grove Park neighborhood in 2021, a Microsoft spokesperson told Bisnow Thursday evening. Microsoft started holding community meetings last summer to gather input from locals around where it acquired the land next to Westside Park at Bellwood…

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Inside The Lab Where The Federal Government Is Figuring Out The Future Of Its Office Footprint Inside The Lab Where The Federal Government Is Figuring Out The Future Of Its Office Footprint
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D.C. Moves To Boost EV Charging By 2,900%, Taking Aim At Commercial Buildings D.C. Moves To Boost EV Charging By 2,900%, Taking Aim At Commercial Buildings
Feds Look To Sell Vacant Office Building On 10-Acre Site In D.C. Suburbs Feds Look To Sell Vacant Office Building On 10-Acre Site In D.C. Suburbs
D.C. Staring Down Big Apartment Pipeline As Population Flatlines, Leasing Slows D.C. Staring Down Big Apartment Pipeline As Population Flatlines, Leasing Slows
 
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'Astonishing': Economists React To Monster January Jobs Report On Twitter

'Astonishing': Economists React To Monster January Jobs Report On Twitter   Nonfarm payroll employment rose by 517,000 jobs in January, significantly topping expectations, the U.S. Bureau of Labor Statistics reported Friday.  The unemployment rate fell to 3.4%. It has remained at or below 3.7% since the end of the first quarter of 2022.There were notable job gains in the leisure and hospitality sector, which added 128,000 jobs in January, including 99,000 jobs at food services and drinking places. The entire sector grew on average by 89,000 jobs per month in 2022. The construction sector added 25,000 jobs in January after averaging 22,000…

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Debt Is The New Darling For CRE Investors Looking For Alternative Deals

Debt Is The New Darling For CRE Investors Looking For Alternative Deals   Under a cloud of economic gloom, investors across the U.S. CRE landscape are faced with a tough year for placing capital, and are looking for alternatives to the typical avenues as they search for returns. As a result, commercial real estate investors are turning toward the relative certainty of real estate debt in its various forms as the top favored alternative investment class, according to a recent survey by CBRE. Though the economy is wobbly, debt associated with real estate – especially in-demand property types such as multifamily and industrial – can offer the certainty of higher returns.“In a market of heightened uncertainty, debt becomes more attractive as an alternative investment,” CBRE U.S. President of Debt & Structured Finance Rachel Vinson told Bisnow. “That's due to the combination of need for short-term capital and a higher interest…

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