“The HQ2 failure in New York should prompt soul searching at Amazon, and it serves as a warning to all powerful technology companies: No longer will they be welcomed with unquestioned open arms in any city, state or country where they want to do business,” writes Shira Ovide for Bloomberg Opinion. “There will be no hero’s welcome for technology giants no matter where they go. This is the new reality for big tech. Welcome to the techlash.”
But not everyone is shunning Amazon.
Some cities rejected in Amazon’s original search for a second headquarters location are dusting off their old proposals, with those reportedly still open to hosting HQ2 including Chicago and Newark, NJ.
Biotech and medical technology are ramping up R&D, and that’s driving demand for incubator space in innovation clusters around the world.
“With more than $66 billion in venture capital invested in bioscience companies from 2014-2017, commercial real estate is expected to benefit, as life sciences requires significant square footage for laboratories, office workers, R&D and device manufacturing,” CrediFi CEO Ely Razin writes in Forbes.
Panels at the MBA CREF/Multifamily Housing Convention & Expo in San Diego this week discussed topics including senior housing, lending competition and the future of GSEs.
Among other things, panelists said they are seeing increased competition among lenders, with banks and life insurance companies competing with CMBS lenders for the same loans rather than relying on traditional market segmentation.
New supply and slowing economic growth are expected to cool a booming hotel industry, the Wall Street Journal reported.
Citing data from hotel data firm STR, the Journal reported that record U.S. hotel occupancy of around 66% in 2018 will be flat this year for the first time since 2009, while in 2020 occupancies are expected to drop 0.2%.