Power Reads: 5 Interesting Articles That Will Help You This Week
/Each week, I select a few articles that rise above the fray and hopefully help you on your journey in leadership and the CRE world. They pull from one of four "corners": corporate real estate, technology, management science and anything positive. Each day we can become a better version of ourselves.
1. CREi Movement List of Influential Women
I'm very excited to announce a new list from #CREiMovement - (Commercial Real Estate Influencers). This list is special as it identifies 51 amazing women who are leading and changing our industry. Bravo to these women and thanks for all you are doing to make commercial real estate better!
2. S.F.’s Transamerica Pyramid is getting a $250 million redesign, the biggest in its 50-year history
The Transamerica Pyramid is getting the biggest makeover in its 50-year history. Owner Michael Shvo and his partners have hired world-renowned architect Norman Foster to redesign the iconic tower’s interiors and plan to invest $250 million to renovate the 1972 building and expand its Redwood Park. The owners also plan to roughly double the size of neighboring 545 Sansome St. and add a new facade to create a modern office building at the cost of around $150 million.
“The plans amount to not only the largest investment in downtown San Francisco since the pandemic began, but one of the largest building redesigns in the city’s history — and to one of the city’s most recognizable landmarks.”
“We want to make this place a focal center of downtown, and make sure people come here not only to work,” said Shvo. “It will not only transform the interior of the building but the landscape and the exterior and bring life to the entire site.”
3. FBI To Relaunch Search for New Headquarters in D.C. Suburbs
The FBI's search for a headquarters outside of D.C. is back on. President Joe Biden's administration made it clear that the federal government would be consolidating the FBI's headquarters outside of D.C. in the General Services Administration's fiscal year 2023 budget request.
“The move will consolidate the federal agency’s footprint in the D.C. area to accommodate 7,500 personnel, down from the 11,000 employees the GSA first proposed in a plan released in 2016.”
The GSA said it is actively seeking a new site, and "will also begin initial steps to acquire, if necessary, the site for the new suburban headquarters location."
4. Should you take a dog to a co-working space? I found out.
Some trips feel friendlier for pets than others. Visiting national parks or staying at your parents’ place? Go ahead and pack the kibble. Traveling for remote work? That can get complicated.
“More people than ever are working outside of a traditional office environment, and we know demand for travel with pets is growing. Last fall, Airbnb CEO Brian Chesky told The Washington Post that the company saw a significant increase in guests wanting to travel with pets during the pandemic. “Pets allowed” is now among the top search terms for amenities on the platform.”
For travelers who desire a professional work setup, co-working spaces can be a helpful solution when a coffee shop just won’t do. And given increased demand from pet owners, some spaces allow you to bring your pooch along.
5. Location over age: 1986-era Midtown Plaza nabs deluge of lease renewals
Image courtesy of Atlanta Business Chronicle
The two towers in Midtown Plaza are straddled between the past and the present.
“The office complex at the intersection of Peachtree and 17th streets was completed in 1986, an era of rapid growth and revitalization for the district. The Midtown and Arts Center MARTA stations opened four years beforehand, and over 2 million square feet of office space went live in 1987.”
The towers have remained in place as project upon project has sprouted around them over the past three decades, from offices to condos to apartments. Yet Midtown Plaza has seen steady leasing and rent increases over the last decade.
Your success blesses others. I wish you a great and hugely impactful week!
