Nes/iStock/Getty Images The Wall Street Journal goes inside a New Mexico nursing home where residents and the providers who care for them struggle with the effects of the virus. House Democrats will forgo recess to
close a deal with Republicans on a new coronavirus aid bill, reports Reuters. These are among today’s must reads from around the commercial real estate industry.
- Inside a Nursing Home Devoted to Treating Those With Covid-19“In a New Mexico long-term care facility, residents rely on care providers for medical care and moments of connection.” (The New York Times)
- 'Problem Solvers' Meet their Match in U.S. Congress Coronavirus Aid Fight“U.S. House of Representatives Speaker Nancy Pelosi on Tuesday said Democrats were open to delaying an October recess to get a deal with Republicans on a new coronavirus aid bill, as a $1.5 trillion proposal unveiled by moderates was attacked by conservatives and liberals.” (Reuters)
- Apparel Retailer Francesca’s Issues ‘Going Concern’ Warning as Sales Tumble “Apparel retailer Francesca’s said Tuesday its ability to continue is in doubt after it reported a quarterly sales decline of 29%, citing major supply-chain constraints.” (CNBC)
- Facebook Buys REI’s New HQ for $367M, Expanding Seattle-Area Footprint Beyond 3M Square Feet “Facebook is yet again expanding in the Seattle region, its largest engineering hub outside of Silicon Valley.” (GeekWire)
- H&M’s Coronavirus Recovery Beats Expectations “Fashion retailer says well-received collections and cost cuts helped it return to profit.” (Wall Street Journal)
- Cushman, Industrious Form Alliance as Office Industry Rallies Behind Flex Space “Cushman & Wakefield has launched an alliance with Industrious, a startup co-working firm, to build market share in one of the few growing office-space businesses during the pandemic.” (Wall Street Journal)
- America's Wealthy Likely to Power Pandemic-Hit U.S. Holiday Sales: Deloitte “The wealthy in America are expected to splurge online for gifts and home decorations this holiday season, even as the COVID-19 pandemic erodes sales growth to the slowest in at least a decade, according to a forecast from Deloitte.” (Reuters)
- Hollywood’s Restart From COVID Brings Higher Rents, Intense Demand for Studio Space “CBRE anticipates production space supply to grow by at least 10 percent in the coming months.” (Commercial Observer)
- WeWork Looks at the Office Market’s Post-COVID Future “To learn more about how enterprise companies are adapting the way they use real estate, we spoke with Ronen Journo from WeWork.” (Commercial Observer)
- Stein Mart Leases Disposition Begins “A&G Real Estate Partners is marketing leases for 280 stores, along with distribution and office space, as part of the discount retail chain’s bankruptcy.” (Commercial Property Executive)
- Arch Street Capital Buys DC-Area Office Tower “As part of a partnership with VEREIT, formed on behalf of a Kuwait-based institutional client, the company acquired a majority interest in the fully leased property.” (Commercial Property Executive)
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