ByteDance inks massive data-center deals in US

ByteDance, the parent company of social video platform TikTok, has leased an enormous amount of data-center space in a Virginia corridor known as “Data Center Alley.” ByteDance was behind three data center transactions in northern Virginia in the first half of 2020, Business Insider reported, citing a person with knowledge of the transactions. The company’s new 53 megawatts of data center capacity — which is likely to take up hundreds of thousands of square feet

source https://therealdeal.com/2020/11/02/bytedance-inks-massive-data-center-deals-in-us/

JLL says hasn’t seen “anything worth spending our…money on” after reportedly passing on Cushman

JLL CEO Christian Ulbrich didn’t exactly say Cushman & Wakefield wasn’t worth a page out of its checkbook. But the executive did throw shade on a pipeline of M&A deals rumored to include JLL’s smaller rival. “The opportunities are increasing quite significantly at the moment,” Ulbrich said during the brokerage’s third-quarter earnings call Monday morning.” At the time we haven’t seen anything we think would be worth spending our shareholder’s money on.” The statement came

source https://therealdeal.com/2020/11/02/jll-says-hasnt-seen-anything-worth-spending-ourmoney-on-after-reportedly-passing-on-cushman/

Friendly’s files for bankruptcy, enters sales agreement

The Covid-19 pandemic hasn’t been friendly to Friendly’s. The restaurant chain announced Sunday that it has filed for Chapter 11 bankruptcy, according to a press release. The company has already entered into a sales agreement with Amici Partners Group, which invests in and runs eateries. The sale price is less than $2 million, Restaurant Business reported. The filing isn’t expected to dramatically affect the chain’s more than 130 locations, nearly all of which should remain

source https://therealdeal.com/2020/11/02/friendlys-files-for-bankruptcy-enters-sales-agreement/

Retailers prepare for possible Election Day unrest

Retailers are preparing for the possibility of unrest following Tuesday’s presidential election by boarding up their storefronts. The number of work orders for plywood and enhanced security measures has increased, according to ServiceChannel CEO Tom Buiocchi, whose company connects national retail chains with local contractors, Business Insider reported. Precautionary measures are being taken based on retailers’ experiences over the summer following the killings of George Floyd and Breonna Taylor. In June, as protests and looting

source https://therealdeal.com/2020/11/02/retailers-prepare-for-possible-election-day-unrest/

Manhattan records biggest luxury deal since Covid hit

UPDATED, NOV. 2, 2020, 11:15 a.m: It’s a red-brick building being used as a garage, but close your eyes and you can see it transformed into a huge mansion with an enviable rooftop terrace. At least that’s the vision brokers have been pushing since the property at 332 West 11th Street hit the market in January 2019 with an asking price of almost $50 million. And last week, with the asking price lowered to $45

source https://therealdeal.com/2020/11/02/manhattan-records-biggest-luxury-deal-since-covid-hit/

Home Depot signs lease for Bed Bath & Beyond’s UES store

It’s official: Home Depot is moving to the Upper East Side. The home improvement chain has signed a lease to take over a 120,000-square-foot location at 410 East 61st Street, which is currently leased to Bed Bath & Beyond, CNBC reported. Rumors of the move have been swirling in recent months. Home Depot currently operates two locations in Manhattan: One at Vornado Realty Trust’s 731 Lexington Avenue in Midtown, and the other at 40 West

source https://therealdeal.com/2020/11/02/home-depot-signs-lease-for-bed-bath-beyonds-ues-store/

Housing prices soar in mountain towns thanks to tech transplants

Housing prices are rising fast in Western mountain communities where newly liberated tech workers are moving in. Major tech firms, including Facebook, Twitter and Stripe, have implemented flexible work-from-home policies for their employees — some permanent — since the onset of the pandemic. And some of their employees who were previously tied to the Bay Area are flocking to towns around the Rockies, such as Boise, Idaho, and Park City, Utah, the Wall Street Journal

source https://therealdeal.com/2020/11/02/housing-prices-soar-in-mountain-towns-thanks-to-tech-transplants/