WHP Global, which revived the Toys R Us chain, announced it struck a deal to acquire the Vera Wang brand, aiming to expand the fashion designer's brick-and-mortar retail footprint.
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A federal judge approved Yellow’s $192.5 million sale of truck terminals as brokerage CBRE looks for buyers for the defunct trucking company’s remaining portfolio of about 100 terminals.
Yellow gets court approval for latest sale as CBRE markets remaining truck terminals
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Curious about the priciest sale 💰 in the Washington, D.C. area? Homes.com data reveals that seven properties 🏠 in the region have sold for over $10 million so far in 2024. Mark Lowham and Daniel M. Heider of TTR Sotheby’s International Realty, and Kathryn Harrell and HRL Partners (Robert Hryniewicki, Adam Rackliffe, Christopher Leary, and Micah Smith) of Washington Fine Properties were among the agents behind this year's top deals. Find more details on the sales here: https://bit.ly/4iNR2CO
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How will Amazon accommodate its workers returning to a full-time schedule if it doesn’t have enough #office space? Could #SanDiego become the next film and studio hub? And how might the Federal Reserve’s slower pace of rate cuts in 2025 impact the real estate market? Find out the latest #CRE news in this edition of our weekly newsletter.
Top news for real estate pros
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AT&T will require office employees to return to a full five-day workweek starting next year, joining other major employers rolling back remote work policies while investing in improved office experiences.
AT&T abandons hybrid work in push to get employees back for complete five-day week
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KFC will open its first Saucy location next week in Orlando, Florida, a restaurant dedicated to serving tenders and 11 sauces, catering to Gen Z and encouraging customers to "hang out."
KFC to dish out chicken tenders, taking on Raising Cane's and Layne's
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NVIDIA, one of the corporate cornerstones of the artificial intelligence industry, is set to lease an entire 100,225-square-foot building in San Jose, California, to support its expanding real estate needs amid a surge in sales and hiring.
Nvidia accelerates real estate expansion with Silicon Valley office lease
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Ever dreamed of living in a New York penthouse 🏙️ featured in films 🎞️ like "Spider-Man," "Scarface" and "The Godfather?" Listed for $3.75 million, this luxury home boasts features that include a wood-burning fireplace and a private terrace adorned with gothic statues of griffins and gargoyles. More about the property here: https://bit.ly/4gITPuV
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In New York, Convene nearly doubled its holiday party bookings this year compared to 2023, with inbound inquiries up almost 50%, as businesses downsizing office space due to higher interest rates and hybrid work shift year-end gatherings to external venues. "We're just seeing continued increasing demand of all shapes and sizes, from small meetings to medium size to large,” said Ryan Simonetti, co-founder and chief executive of event-hosting firm Convene. Discover more below.
Corporate holiday parties are back in vogue, but with new twists
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The U.S. Federal Reserve cut interest rates by a quarter-percentage point, falling within the range of 4.25% and 4.5%, but signaled a slowdown in cuts ahead in 2025 as inflation lingers, adding to long-term uncertainty for the real estate industry and the broader economy.
Fed cuts interest rates again but signals slowdown on reductions in 2025
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