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December 3, 2024

Transwestern Taking Over Residential Conversion Of Former MCI Headquarters

A new developer has taken the reins of a planned downtown office conversion.

The former MCI Communications Corp. building at 1133 19th St. NW is under contract to sell to Transwestern Development Co., according to zoning filings that show it is planning a residential conversion. Foulger Pratt had previously been under contract to buy the building and had planned its own conversion.

Transwestern Taking Over Residential Conversion Of Former MCI Headquarters

TDC, an affiliate of Transwestern, revealed it is taking over the project in a request to the Board of Zoning Adjustment for a two-year extension on the board's approval order, which allowed a penthouse eating and drinking establishment at the property.TDC Mid-Atlantic Regional Partner Toby Millman told Bisnow the project has received…

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The CRE Job Market Is Improving, But The 'Explosion' Won't Come Until 2026

It has been a hard year to work in commercial real estate. Things are looking up, with two rate cuts and more seemingly on the horizon bringing an expected market turnaround. Uncertainties around macro events like the election have been settled, allowing decision-makers to act with more confidence.

Hiring in the CRE industry has accelerated as the year comes to a close, showing improvement over last year and the earlier months of 2024. But despite the uptick in activity, a wholesale shift in the hiring picture, including changes to compensation, is many months off. 

The CRE Job Market Is Improving, But The 'Explosion' Won't Come Until 2026

“2026 will be where the real explosion happens,” CRE Recruiting CEO Allison Weiss said. “The pendulum has kind of swung back from being a candidate's market to an employer's market, and I think because of that, there's some downward pressure on compensation. I do see some stagnation as it relates…

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Grading 2024 Predictions: How Clear Was The Crystal Ball?

Grading 2024 Predictions: How Clear Was The Crystal Ball?

Even the top real estate players knew 2024 would be a bit painful. This year was transitional, with many executives attempting to buy time. With enough of it, the hope was that interest rates would fall, companies would beckon employees back to their offices and capital would come flowing back…

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AWS Reveals New AI Data Center Designs

AWS Reveals New AI Data Center Designs  

As the data center industry adapts to the rapidly evolving computing needs of artificial intelligence, cloud giant Amazon Web Services has unveiled significant redesigns of many of the components and systems in its facilities. 

The design changes are meant to ensure that AWS’ data centers can handle the skyrocketing electricity needs of AI while simultaneously becoming more energy-efficient, the company said in a release Monday.  The largest data center user in the world, AWS has made significant changes to cooling and power systems, as well…

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