Top News for Real Estate Pros
WeWork’s Global Lease Renegotiation Plan Seems ‘Sort of a Stretch,’ Real Estate Pros Say
Even if landlords are open to renegotiating leases, the question centers on whether New York-based WeWork can work out new terms in a way that would turn money-losing locations with low occupancy rates profitable, so “it seems like sort of a stretch,” said Kent Reynolds , a director at credit-ratings firm Fitch Ratings .
Six Flags Ups Ante With Biggest Park Investment in a Decade To Woo Back Visitors
By not previously focusing on adding new rides and upgrading existing coasters, important in the amusement park industry to lure visitors, Six Flags has been missing out on revenue, said dennis speigel , founder and CEO of International Theme Park Services, Inc. in Cincinnati.
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Furniture Maker Mitchell Gold + Bob Williams Shuts Factories, Stores As Industry Struggles
Upscale furniture maker and retailer Mitchell Gold + Bob Williams abruptly ended its operations, the latest shutdown in a sector struggling as the U.S. furniture industry, which had a surge in demand at the onset of the pandemic, has seen sales drop off more recently.
Landmark Tower in Chicago, Long Tied to Al Capone Rumors, Seeks First New Owner in Over 40 Years
Property sales throughout the country have slowed since interest rates began increasing more than a year ago, and it has been over a year since the last office tower sold in downtown Chicago. But Newmark , the property’s receiver, is hopeful that the property’s unique traits, and $118 million in upgrades over the past two-plus decades to modernize the tower, will help it stand out.