| | Projects Around Stadiums Have Security Blanket Through Pandemic Uncertainty | | | | | Even in the absence of fans at live sporting events, the past year has underscored the all-around benefits of using arenas and stadiums as centers of mixed-use development districts. 
While teams across the major professional U.S. sports leagues lost billions of dollars in the past year due to the lack of ticket sales, ownership entities with stakes in commercial developments surrounding their stadiums have managed to insulate themselves slightly from the worst of…  Read the full story here. | | |
Top Stories on Bisnow.com | | | | |
Franklin Street Properties Sells 3 Atlanta Office Towers | | | | |
The Residential Group To Build Another Downtown Duluth Apartment Project |  | | The developers of a downtown Duluth apartment project are preparing a new multifamily community down the street. The Residential Group, in a partnership with PointOne Holdings, plans to break ground on a 256-unit, luxury garden-style apartment project at 3256 Buford Highway, next door to the City of Duluth Public Safety Center.… Read Full Story |
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SURVEY: Bisnow Wants Your Take On The Return To The Office |  | | One year ago, the World Health Organization declared the coronavirus a pandemic, and office workers across the United States and United Kingdom went exiled to home offices. Now, as vaccines get distributed and cases begin to decline, three states — Texas, Mississippi and Wyoming — are fully reopening and dropping mask mandates. It is… Read Full Story |
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Digital Twins Could Help CRE Reduce Emissions In A Big Way – But First, The Technology Needs To Become More Accessible | The push for greener, more sustainable buildings and cities has been around for years, but that enthusiasm does not appear to have made a dent in global carbon emissions. Energy agencies agree that residential and commercial real estate account for about 40% of global energy consumption and emissions. Advocates of digital twin technology say that by increasing the efficiency of the built environment through real-time, comprehensive monitoring, that number could come down. New flagship office towers and corporate HQs are more likely to take advantage of the efficiencies that could be achieved using a digital twin. But the greater challenge is posed by the sheer volume of aging building stock, which requires significant and costly repositioning to be able to achieve the same efficiencies. “If you're doing it with an older building, this could be a far more costly undertaking," Massachusetts Institute of Technology Real Estate Innovation Lab Lead Researcher James Scott told Bisnow. “That's why the rollout of this isn't going to happen as quickly as people would hope for.” Read the full story here. | |  | | |
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Origin Stories: NorthMarq Executive Chair Eduardo Padilla |  | | This series delves into the myriad ways people enter the commercial real estate industry and what contributes to their success. Eduardo Padilla is an immigrant success story, but with a twist. He came from Cuba with his family when he was 6 years old in the 1960s, as so many others did at the time. In the following years, Padilla's family made a new life for themselves a bit farther from Cuba than many of their fellow immigrants: St. Paul, Minnesota. Padilla said his father was very much an inspiration to him as he grew up in a St. Paul garden apartment. "My father, who had been a lawyer in Cuba, basically went through different jobs as he learned to speak English, dishwasher and all kinds of stuff," Padilla said. "He ultimately got a job at 3M helping translate legal documents, and did well enough in English to pass the bar exam in Minnesota. He ended up in the legal department of 3M." The younger Padilla pursued his education all the way through law school and eventually found himself on a career track in commercial real estate. In 2000, he became CEO of NorthMarq Cos., the Pohlad Cos.' commercial real estate services holding company, a position he held until last year. He is still executive chair of the company. Read the full story here. | | |
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