Amazon has introduced a smart shopping cart that will track purchases as shoppers add them, then calculate the total for digital checkout so customers can avoid lines. The Dash Cart, equipped with cameras and sensors and designed for small to mid-size loads, builds on the company's "Just Walk Out" technology and will debut later this year at Amazon's new store in Los Angeles' Woodland Hills neighborhood.
Indoor operations will cease for many businesses and organizations across California this week in an attempt to reverse a surge in coronavirus cases. The restrictions will apply to shopping centers, hair salons, worship services and fitness centers, among other businesses.
A former two-story Sears store at the Chapel Hills mall in Colorado Springs, Colo., is expected to be demolished to make room for a gated apartment complex. The propsed project includes three-story and two-story buildings with a total of 300 units.
New York & Co. parent RTW Retailwinds filed for chapter 11 bankruptcy protection Monday, with plans to shutter all of its stores and potentially sell its intellectual property and e-commerce arm. The company, which operates 387 retail stores in 32 states under the New York & Co., Fashion to Figure and Happy x Nature brands, suffered from store closures and supply chain issues brought on by the pandemic.
Retailers are looking to provide quality, contactless shopping experiences as consumers return to stores amid the pandemic. Multi-brand retailer Showfields developed an app that allows shoppers to avoid touching things while browsing, MySizeID has seen use of its contactless body measurement technology increase by 800% amid the pandemic and Brookfield Properties is teaming with Fit:Match to offer digital sizing tools at three shopping centers.
The Philippines Securities and Exchange Commission has granted permission for an initial public offering of a REIT with Ayala Land as the sponsor. The offering would be the first of its kind for the country, and shares would list on the Philippine Stock Exchange on Aug. 7.
Simon Property Group and Authentic Brands Group won a bid to supply Brooks Brothers with a zero-interest $80 million loan that will carry the retailer through bankruptcy. Brooks Brothers' branding and trademarks are required as collateral for the loan.
Many companies are rethinking their space needs after having realized that remote work is a viable strategy. Office rent collection has held up relatively well during the pandemic, but Victor Calanog of Moody's Analytics predicts that the office vacancy rate could reach 19.4% by December.
Commercial construction costs fell for the first time since 2010 in the second quarter, a Turner Construction index shows. Turner's Attilio Rivetti noted that competition among trade contractors has intensified, and he said that the third quarter could "more clearly define the fluctuation of escalation of cost in the construction industry."
In this interview, Boston Properties CEO Owen Thomas explains how the company assembled a task force to aid the creation of a health security strategic plan. Looking forward, expect the office market to have an increased focus on spacing and healthy building policies related to light and air, he said.
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