Success in the commercial real estate world has always been about the ability to evolve. Investors are constantly looking for what’s “next,” while developers keep an eye on what the market is asking for. Retailers need to know the trends that their customers will want. And economic development organizations must be able to pivot when their community indicates a change is needed. In so many ways, the COVID-19 pandemic has tested the evolutional capacity of EDCs throughout Texas and a number of them are passing with flying colors, helping the investors, developers and companies that call their towns home weather an incredibly challenging time. At the Greater Houston Partnership (GHP), the team shifted to a strategy of remote working, online meetings and virtual events in March, according to Craig Rhodes, senior director of regional economic development. “The traditional trade shows, conferences and outbound recruitment missions have been replaced with virtual industry roadshows, site consultant outreach and targeted business outreach activities,” he said. An example of that: GHP hosted a virtual business recruitment mission with Houston Mayor Sylvester Turner in October 2020 to connect with companies in Silicon Valley. The event followed up a successful delegation trip in 2019 meeting with California tech companies about the opportunities for growth in Houston. Click to read more at www.rednews.com.

HOUSTON, Dec. 15, 2020 /PRNewswire/ — RedSwan CRE, the leading commercial real estate (CRE) tokenization platform, today announced their first tranche of Class A & B properties, $300M of a total of $2.5B (USD), are now being offered to major investors. Investments can be made through the company’s platform powered by advanced blockchain technology, allowing for a more secure investment in CRE. This is the first public offering of security token offerings (STOs) at this scale. “No other blockchain-based CRE company has created this much product of high-quality properties to the blockchain as digital securities,” said RedSwan CRE chief executive officer, Ed Nwokedi. “Adoption happens faster when the options for CRE investments are larger. By adding 25-50 properties in various locations and yields, the opportunities for investors to participate significantly increases.” Historically, smaller investors weren’t permitted or invited to participate in major $20M+ projects because the price of entry was too high, making it a challenge to access higher-quality investments. By Investing with RedSwan CRE’s platform, customers can invest alongside major institutional companies with similar or exact search terms. With the first tranche now available, investors will have freedom of liquidity. By using blockchain, the crowdfunding impact will allow investors to reduce the initial investment cost, allowing them to diversify their capital into multiple projects instead of one, without the historical requirement of holding them for 3-10 years before exiting. Based on SEC regulations of Reg D investors, only accredited investors can participate in RedSwan CRE’s STOs. Click to read more at www.prnewswire.com.

“Well, where are you going?” I asked my husband a couple of weeks ago as he rounded the corner in a suit. My visceral reaction got me thinking about how the pandemic has changed how we think about what we wear to work—not just where we work. As a designer, I understand the importance of aligning an organization’s culture, values, and policies with the aesthetic of the space. Lawyers, developers, and bankers in their formal business attire look appropriate in their wood and stone workplaces. Tech firms with concrete flooring and coffee bars are a better fit for the t-shirts and sneakers vibe. It makes sense. But now, whether you have been going to your office or not, I can safely say—we aren’t dressing the same. We aren’t dressing up. In a predominately virtual world, we are dressing for ourselves. We talk about the pandemic being an accelerator of remote work and collaborative technology. It may also accelerate heels and ties right out of our work attire forever. The evolution of the suit and business attire, like all fashion, has followed a trend pattern that mirrors major economic and cultural shifts in our country—a reflection of our values, lifestyles, and sentiment. For example, in the 1920s, embellishment dominated preferences as tie pins gained popularity and shirts became more colorful. Click to read more at www.dmagazine.com.

By Lydia Bennett, CCIM, Soozi Jones Walker, CCIM, SIOR | Fall 2020

By definition, a market disruption is a situation where a market stops functioning regularly, which usually results in a steep, significant decline. The global COVID-19 pandemic that will define 2020 is a disruption like none other. For commercial real estate professionals, one significant concern is the fundamental relationship between tenants and landlords. As economic instability reverberates across all sectors and in every geographic area, leases will be under strain. Every morning, you can see headlines that reflect a changing industry. E-commerce has been a bright spot in the national response to COVID-19, with major repercussions for real estate. Landlords across sectors are faced with difficult questions resulting from tenants under stress. Is forbearance a way to keep tenants in properties? Are rent deferrals a short-term solution to disruptions in retail, multifamily, hospitality, and other sectors? Pinterest offers one huge example of how quickly things can change in the office market. Back in March, literally hours before the coronavirus led to massive shutdowns across the U.S., the online giant signed a deal for 490,000 sf of office space in San Francisco, adding up to $440 million in total payments over the life of the lease. Flash forward to August, Pinterest decided to pay the landlord $89.5 million to cancel the contract. In this case, the tenant calculated the discounted value of the office space and decided to negotiate with the landlord/owner to reach an agreeable settlement – one that totaled 20 percent of the $440 million in payments.