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WeWork shutting down Ballard location in Seattle as it restructures real estate footprint

GeekWire

WeWork is closing its location in the Ballard neighborhood of Seattle less than two years after the space opened as the office-sharing company restructures its real estate footprint amid continued fallout from the COVID-19 pandemic. Co-founder and CEO Adam Neumann was forced out and the company went on to lay off thousands.

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Former AWS real estate managers, accused of taking millions in kickbacks, challenge Amazon’s motives amid FBI investigation

GeekWire

Eleven data center deals are now the subject of a suit by Amazon vs. two former AWS real estate managers and others. Two of the participants in the August 2017 meeting — Casey Kirschner, an AWS real estate manager, and Carl Nelson, Kirschner’s boss and mentor — were leading that physical expansion for Amazon.

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Seattle office market continues to struggle as vacancy rates rise for ninth consecutive quarter

GeekWire

It also marked the ninth straight quarter of negative net office absorption, which is calculated by the total amount of space leased minus the total space vacated in a given quarter. Companies are reducing real estate footprints with the adoption of hybrid work policies. In Seattle, vacancy rates increased from 16.6%

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Death of the HQ? Pandemic hits commercial real estate, but long-term trends still open to debate

GeekWire

After speaking with about 1,000 companies over the past six months, he estimates that many will be cutting their office space by as much as 40% to 60%. Boosting access to talent, reducing costs, and quality of life were among the benefits of remote work cited by companies in Herd’s informal survey. “Bet on cities.

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JLL reinvents itself for the AI era

CIO Business Intelligence

City skyscrapers and office parks may remain scarcely occupied in the post-pandemic work era, but commercial real estate player JLL’s business is not slowing down, thanks to the company’s embrace of technology and high-growth opportunities to adapt and prosper.

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Zillow Group stock rises after beating Q4 expectations with $474M in revenue

GeekWire

This story originally appeared on Real Estate News. Zillow had a good news, bad news sort of quarter: The company posted a significant net loss in Q4, but managed to pull in better-than-expected revenue from its residential and rental divisions to beat investor expectations.

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Pacific Northwest companies merge and raise cash to build energy efficient, modular construction tech

GeekWire

Aaron Fairchild, left, and Bec Chapin will be co-CEOs of the newly merged company Green Canopy NODE. With the merger, Bunnell has left day-to-day operations and is serving on the company’s board of directors. The merged business will incorporate the structural panels that NODE has developed into Green Canopy projects.