- Here’s a first. Oregon just became the first state to issue statewide rent control. Annual rent increases will be capped at 7% plus inflation statewide. New construction is exempt from the cap for 15 years after their completion. If a tenant leaves voluntary, there’s no cap.
- Greystone lends $58m for “Smart Home” multifamily project in San Antonio, Texas. The 310-unit property will include Amazon technology in every apartment. Nest, Alexa, and smart outlets.
- Amazon pulled out of there 700,000 sq. ft. lease in Seattle. The company will sublease the space as they continue building their 2 million sq. ft. space at the South Lake Union campus in Seattle. Amazon currently occupies a fifth of the city’s office space.
- According to a recent study by LinkUp, Salt Lake City supposedly has the best job market diversification in the U.S. Las Vegas ranked last.
- One retailer’s loss is another’s gain. TJ Maxx is seeing growth as a result of big box stores closing. Vendors are reaching out to the discount brand with unwanted inventory; in turn, enhancing TJ Maxx’s product selection.
- Investors are banking $9m on Showfields. In an attempt to fill empty spaces, Showfields is mixing it up with a model known as retail-as-a-service platform. It’s a great opportunity for online brands to showcase their product without a long term commitment.
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