Top News for Real Estate Pros

Large Banks Sound Warnings on Office Loans While Stressing Limited?Exposure

During the first quarter, 富国银行 ?increased?its loan-loss allowance?by $643 million, an estimate of how much it won’t recover from bad loans. The bank singled out commercial real estate, and especially office loans, in putting the money aside, a move analysts say could become more common as the year goes on.

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Here’s How Malls Across the Country Are Restricting Teen?Visitors

Garden State Plaza?in Paramus, New Jersey, is joining other large brick-and-mortar retail centers across the nation in setting new restrictions on teens' access to their premises. In this latest example, visitors under the age of 18 must be accompanied by a parent or supervising adult 21 or older on Friday and Saturday after 5 p.m. at Garden State Plaza, which is the second-largest mall in New Jersey.

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Molson Coors Joins National Office Upgrade Trend in Moving Headquarters Across the Chicago?River

If Molson Coors Beverage Company s' lease is completed, it would be the latest example of the so-called flight to quality across the country, with tenants moving into newer and higher-end spaces. Many such deals have involved significantly decreasing space as remote and hybrid work models persist more than three years into COVID-19.

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Memphis Tops Major Apartment Markets for High Vacancy As New York City Ranks?Lowest

The West Tennessee market’s vacancy has steadily risen from a low of 4.7% in the third quarter of 2021 to 13.3% on April 13, according to CoStar data. New York City’s region was at 2.4% last week, higher than a record low of 1.83% a year earlier. But that was lower than the pandemic peak of 3.6% in at the end of 2020’s third quarter during shutdowns when residents were leaving urban areas.

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Céline Dion’s Former Private Island May Still Get New Residents After Condo Proposal?Rejection

Fran?ois Duplantie has a dream of transforming the site by adding 660 condominium units and a 35-room hotel that can capture business from the stream of tourists. However, his plans hit a roadblock in the summer of 2020 after the rezoning change proposals met with objections from residents of the city of Laval, which has jurisdiction over the island. But Duplantie is persevering and still holds regular meetings with the heads of associations that opposed his plan and says he is willing to tinker with details of his project to win their approval.

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