WeWork's NY deal sends waves through Vancouver commercial real estate sector

25 October, 2017, 01:04 | Author: Franklin Nunez
  • A full view of the complete royal crematorium at Sanam Laung following the removal of scaffolding. A final dress rehearsal will take place today for the funeral processions of the late King Bhumibol Adulyadej's cremation ceremony

The sale of the Lord & Taylor Fifth Avenue building by Canada-based Hudson's Bay to newly created WeWork Property Advisors entity, by itself, was valued at $850 million US.

Lord & Taylor will remain in the entire building until after the 2018 holiday season under the terms of the deal, Nasdaq reported. The 650,000-square-foot building will be downsized into office space for all but a remaining 150,000 square feet for the store by 2019.

Hudson's Bay estimated that the overall deal would result in $1.6 billion in cash on its balance sheet and reduced debt.

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So Now Sony addresses its users feedback and sending out update which fixes camera distortion effect. The latest update brings some interesting features, which are present in Xperia XZ1 smartphone.

The Lord & Taylor Fifth Avenue building is slated to continue operations in the entire building through the 2018 holiday season before it is redesigned to include WeWork's NY headquarters, WeWork office space and a smaller Lord & Taylor store. The company now anticipates minimal impact on the earnings from these locations.

Real estate activist investor Jonathan Litt has asked Hudson's Bay to consider going private and sell its vast real estate holdings and had previously threatened to launch a proxy fight if management did not act.

In particular, Litt had his eye on the Saks Fifth Avenue flagship in NY. (HBC.TO) said Tuesday that it has agreed to sell the Lord & Taylor Fifth Avenue building in NY to WeWork Property Advisors in a deal valued at $850 million, or C$1.075 billion.

Veggies Sold At Walmart, Trader Joe's Recalled For Possible Contamination
Short-term symptoms of listeria include high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea. Nine vegetable products at Walmart are being recalled including bags of broccoli, cauliflower and vegetable medleys.

As a co-working company, WeWork leases relatively small work spaces to freelancers, start-ups and other individuals and firms for shorter periods of time than traditional commercial landlords.

As the retail industry tries to cope with falling foot traffic and the e-commerce surge, retailers are attempting to reimagine their physical spaces through redevelopments that shrink their footprints as Kohl's is doing, selling floors in key locations as Macy's has done and redesigning customer traffic flow to accommodate in-store and online shoppers better, as Target is in the midst of. "The trend of urbanization is something we must all recognize and understand", he said.

4 lightly injured in Munich knife attack
German police said Saturday they've arrested a suspect after four people were lightly wounded in Munich by a man with a knife. The incident happened at Rosenheimer Platz near the city centre and none of the victims' injuries were life-threatening.


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    No. 2 Nittany Lions 42, MI  13 (Beaver Stadium)

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Bossie: Sessions Must Appoint Special Counsel to Investigate Uranium One Deal
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Governor Cuomo signs law banning e-cigarettes in public places
E-cigarettes often contain toxic chemicals in addition to nicotine, something bystanders should not be forced to breathe. As of this week, vaping wherever standard smoking is prohibited will also be banned in NY state.

ESPN dumps Barstool Sports talk show after just one episode
The two host a highly popular sports podcast, " Pardon My Take ", and ESPN hired them to try to appeal to that audience. The one-and-done " Barstool Van Talk " didn't exactly light up the Nielsen dials - in its Tuesday 1 a.m.

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But last week electoral commission chairman Wafula Chebukati said "it's hard to guarantee a free, fair and credible election".

See all the highlights from Lonzo Ball's stellar second game
Ingram was aggressive, he was making the right decisions and his shot was falling. In that game , Ball scored three points and grabbed nine rebounds.

South Africa Whitewash Bangladesh in ODI Series
Dane Paterson was the pick of South Africa's bowlers with three for 44, while Markram completed a memorable debut with two for 18. There is no rush for du Plessis to return to action with South Africa's worldwide calendar blank until Boxing Day.

Katy Perry Gets Stuck in the Air During Her Concert
She then crowd-surfed off the planet to rapturous applause from the crowd and was escorted back onto the stage. This is what you get for trying to bring out all of space to Nashville.

Egypt: 14 policemen killed in shootout
Interior Ministry said that a number of policemen were killed and injured, and some terrorists also died in the ensuing crossfire. He also called on officials to exert all possible efforts to capture the terrorist elements involved in the shootout.

Linking Aadhaar card number to bank accounts mandatory in applicable cases: RBI
Click on the above link and you will be navigated to another page that would ask you for your Aadhaar number. This is made under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017.

Solange Knowles Covers The Evening Standard in an Epic Braid Crown
The magazine article featured the singer talking about spending time at her mother's salon as a child. What do you think of the media taking the liberty to Photoshop hairstyles?