Heading into 2024, the mantra for many in commercial real estate was “survive till ‘25.”CRE companies of all stripes were prepared to hang on for the year, hoping interest rate relief and general market improvement would come in time to allow them to recover in 2025.
While that strategy worked for countless companies and projects in the space, some weren’t so fortunate.
Elevated interest rates, high construction costs and crippling uncertainty — along with plain old change of heart — brought some businesses and projects to an end.
From REITs liquidating to professional sports teams calling off their relocation plans, here are 20 things that, well, didn’t survive till ‘25...
...New SEC Headquarters
In one of the biggest blows to D.C.’s beleaguered office market since the pandemic, a plan for a new headquarters for the Securities and Exchange Commission fell apart. Developer Cayre Jemal’s Nick LLC, a joint venture between Douglas Development Corp. and Midtown Equities, was to develop 1.2M SF in the NoMa neighborhood for the SEC, but the General Services Administration in October terminated the lease. The GSA blamed the developer’s inability to secure financing and walked away from one of the largest federal contracts in recent history, valued at $1.4B....RSK: Great little fun article on the 25 things that didn`t make it to 2025....some you knew from day 1 were destined to fail.
ken Notes: I picked one but you really need to look at the rest in the article. Very Interesting.
Share this article on you social outlets
Our Sponsors
- - Volume: 24 - WEEK: 52 Date: 12/26/2024 11:46:34 AM -