In the News—Week of September 14, 2020
Around the Nation
Amazon elects not to renew lease of eight floors in Seattle building
The city of Seattle has been talking about targeting e-commerce giant Amazon to pay for social programs for several years. And the company has been threatening to leave its home base. The city’s hopes of taxing Amazon for each of its employees in the Emerald City led to building alternative headquarters elsewhere. Now Amazon has chosen not to renew a 180,000-square-foot lease near the city South Lake Union, KTTH radio reports. The company isn’t saying why it is leaving the riot-torn city, and it still owns or rents close to 5 million square feet of office space in Seattle. But some are wondering if this part of slow withdrawal.
Energy & Environment
New Hampshire utilities propose to raise bills slightly for emission cuts
New Hampshire utility companies want to cut costs and carbon emissions, NHPR reports. But that might mean higher bills for consumers in the short run. The gas and electricity company told regulators their plan would involve selling 5% less electricity and 3% less gas from 2021 to 2023. The plan would likely raise ratepayer bills a few dollars each month. “We want to be very careful not to raise utility rates in a gratuitous or unnecessary way,” state utility consumer advocate Don Kreissays. “At the same time, I think ratepayer-funded energy efficiency has great potential to help drive the economic recovery in New Hampshire.”
Texas
Realty.com buys 20-story office tower in Houston’s Greenpoint area
Realty.com, a well-known residential real estate brokerage and portal based in Houston, has acquired a 20-story tower in the Greenspoint area of Houston, the Houston Chronicle reports. The purchase is part of the company’s plan to move into commercial real estate. “This is an exciting first of many moves we’ll be making into the commercial real estate world,” Realty.com’s CEO Lance Custen said in a statement. Realty.com plans to launch VIP Office Space, which will offer small executive suites.
Sherry Lane Place tower in north Dallas being marketed by Cushman & Wakefield
A 20-story office tower near the Dallas North Tollway is up for sale, The Dallas Morning News reports. The building is on Sherry Lane Place in the Preston Center, and its current tenants include the Bank of Texas and Raymond James and Associates. The tower was built in 1982 and has been owned by a New York real estate partnership since 2006. Cushman & Wakefield is representing the owners.
Arizona
Amazon signs sizable lease with 100 Mill Avenue in Tempe
Amazon signed a 95,000-square-foot lease at 100 Mill in downtown Tempe, AZ Big Media reports. Amazon will take up about a third of the 18-story tower currently under construction next to the former US Airways headquarters and near Tempe Town Lake. The move is part of the company’s $1.4 billion tech hub plan in six metro areas in the United States. The expansion is expected to bring about 500 jobs to the Phoenix area.
Mexico
Hyatt plans 150-room property in Nuevo Leon under Thompson brand
Hyatt Hotels plans to open a 150-room Thompson hotel in 2022 in the state of Nuevo Leon, Caribbean Journal reports. The Thompson Monterrey will be the brand’s first in the state and fourth in Mexico. The project will be in the San Pedro Garza Garcia business district. “Thompson Monterrey comes at a time of significant growth for the Thompson Hotels brand and will represent the brand’s entry into a key new market,” Hyatt executive Alfredo Reynoso says.
