In the News—Week of January 25 2021
Around the Nation
Chain of senior living facilities offers vaccine with a lease
As the COVID-19 pandemic has gone on, the occupancy rates in senior living facilities have fallen to a record low, dropping to 80.7% in the last quarter of 2021. Atria Senior Living, which operates 150 centers, is trying to reduce vacancies and induce seniors to sign leases with months of free rent, lower move-in fees, and by marketing access to vaccine shots. The company’s website lists more than 60 vaccine clinics scheduled at its properties for January and February. Seniors are at high risk, and there is fear that some may not be able to get the shots.
Energy & Environment
Japanese company uses pools in closed down schools to cool solar panels
Japan is the Land of the Rising Sun and the land of the declining population. Because of its low birth rate, schools across the country have closed. The site of decaying swimming pools at schools is a common one. Now, Japan Times reports, a company is turning those pools into an asset. ELM Inc. is using the pools to cool solar panels. “Pools in abandoned schools have no use, so I want them to play the role of a power plant for the region,” ELM’s CEO Takakazu Miyahara says.
Cadence Bank signs lease at Park Towers for 82,000 square feet
Cadence Bank will lease three-and-a-half floors at the Parkside Towers in Houston, Commercial Property Executive reports. This is the second major tenant the property’s owner, Regent Properties, has landed during the pandemic. Ryan LLC, a tax preparation firm, signed a lease for 66,800 square feet. “The Cadence Bank lease shows that there are still tenants in the market that are confident about their future and recognize the value of offering their employees a newly designed, collaborative space with an abundance of amenities,” Transwestern Real Estate Services’ Kelli Gault says. Transwestern represented Regent Properties in the deal.
Apartment building made of shipping containers slated for 2021
Southeast Dallas will soon be the site of an apartment complex made from repurposed shipping containers, D Magazine reports. Merriman Anderson/Architects and CitySquare Housing designed the Lomax Container Housing Project at Malcolm X Boulevard and Louise Avenue. There will be 19, one-bedroom apartments with 300 square feet each. The units will rent for $906 a month, including utilities. Construction is expected to start early this year.
Sunbelt Holdings will lead development of expansion at Wild Horse Pass
Scottsdale-based Sunbelt Holdings has been named the lead developer on the first phase of a 10-million-square-foot expansion of Wild Horse Pass in the Gila River Indian Community, AZ Big Media reports. The plans, which have been approved by the community, include more hotels, parks, sports facilities and office space. “The new development plan will create exceptional entertainment and lifestyle experiences, new jobs for community members, and will evolve our culture and legacy,” the general manager for Wild Horse Pass Development Authority David White says.
Dutch company expects to open 25 retail outlets in Mexico in 2021
Hema, a Dutch company that makes sustainable products, is breaking into the Mexico market and plans to have 25 stores by the end of 2021, Mexico Business reports. The company, which sees itself as a competitor to the Japanese-Chinese store Miniso, has plans of 200 stores by 2025. Hema had planned to open a store in Mexico City last summer, but the COVID-19 pandemic forced a change. Instead, the company had to go with a website. It has opened stores at Terminal 1 of the Mexico City International Airport and at the Artz Pedregal mall.