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Xceligent is no more, Detroit breaks ground on $900 million skyscraper, and more in CRE

Xceligent is no more

Xceligent has filed for chapter 7 bankruptcy and is liquidating it’s assets according to Bisnow. We’ve featured Xceligent as our schlemeil of the week before so we knew the writing was on the wall.

Tax overhaul could be great for “pass-through” entities

The House and Senate have tentatively agreed to create a 20 percent deduction on pass-throughs according to Bloomsberg.  Pass-through entities are responsible for 61 percent of investment  in U.S. commercial real estate according to a report by Cushman & Wakefield.

JLL looks to tech to explain shoppers

JLL has partnered with a firm that tracks shopping habits of consumers by analyzing the locational pings sent by their mobile devices and apps according to the Wall Street Journal. Greg Maloney, chief executive of retail at JLL told the Wall Street Journal that the data gathered by the tech firm will be used “to figure out what we need to bring to our shopping centers in order to keep you there longer.”

Detroit breaks ground on $900 million skyscraper

Three years removed from the largest municipal bankruptcy in U.S. history, the revitalization of downtown Detroit has begun. The two-building project will include a 58-story residential tower and 12-floor building for retail and conference space according to the Chicago Tribune. It is one of four projects representing a $2.1 billion investment in downtown by Bedrock Detroit real estate.

Equity Office and Hines are looking to get a piece of the co-working space pie

Both Blackstone Group-owned Equity Office and Houston-based Hines are looking for partners to help them gain experience in the co-working business according to The Real Deal.  Equity Office is trying to figure out how to make tenants more interested in their Howard Hughes office complex in Los Angeles. The company expects responses to their RFP soon. With WeWork valued at $20 billion co working spaces are definitely a hot commodity.

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