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August 27, 2024

Influx Of Tourists To D.C. Provides Much-Needed Boost To Hotel Market, Tax Revenues

Tourism to the nation's capital hit new records in 2023 and continues to grow this year, leading the city's hotel market to emerge as a national leader in the recovery from the pandemic. 

Influx Of Tourists To D.C. Provides Much-Needed Boost To Hotel Market, Tax Revenues

The hospitality recovery came to the city later than most of the big U.S. hotel markets. But the fast-growing D.C. hotel market is now providing a bright spot for the city's economy that is sorely needed as the city faces hundreds of millions in lost tax revenue from the deteriorating office market. The…

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Former Cushman & Wakefield Baltimore Market Leader Dies At 74

Former Cushman & Wakefield Baltimore Market Leader Dies At 74

David Gillece, who served as an economic development leader in Baltimore before becoming a top real estate executive in the region, has died at 74. Gillece died of Parkinson's disease at the University of Maryland Shore Medical Center in Easton, Maryland, on Aug. 17, The Baltimore Sun first reported Sunday. After joining the commercial real…

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The Ghost Of Office Past, Present And Future: How Landlords Are Managing After WeWork's Bankruptcy

The Ghost Of Office Past, Present And Future: How Landlords Are Managing After WeWork's Bankruptcy  

As the dust settles on WeWork’s bankruptcy, landlords in New York City and across the country are attempting to reanimate now-vacated space and find ways to fend off circling lenders. 

In 2019, the coworking giant was valued at $47B, with landlords of 850 locations across the world locked into leases with WeWork. CMBS debt exposure to the tenant exceeded $204M across 10 deals alone, according to data provided to Bisnow by Moody’s CMBS. Three months after a judge…

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Retailers Fight For Space As Sector’s Strong Performance Bucks Doomsday Forecasts

Retailers Fight For Space As Sector’s Strong Performance Bucks Doomsday Forecasts  

With leasing activity at a five-year high, scant amounts of available new space coming to the nationwide retail market and consumers ready to spend, the so-called retail apocalypse of the 2010s is fading into a distant memory.

Closures are still happening, with giants like Walgreens and Family Dollar shuttering space to the tune of 22M SF this year. But planned expansions and updated takes on what brick-and-mortar stores should be mean those spaces won’t stay on the market for long. “Because there isn't…

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