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WeWork shutting down Ballard location in Seattle as it restructures real estate footprint

GeekWire

WeWork is closing its location in the Ballard neighborhood of Seattle less than two years after the space opened as the office-sharing company restructures its real estate footprint amid continued fallout from the COVID-19 pandemic. WeWork reported a net loss of $2.06 (WeWork Photo). WeWork Photo).

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Former AWS real estate managers, accused of taking millions in kickbacks, challenge Amazon’s motives amid FBI investigation

GeekWire

Eleven data center deals are now the subject of a suit by Amazon vs. two former AWS real estate managers and others. Two of the participants in the August 2017 meeting — Casey Kirschner, an AWS real estate manager, and Carl Nelson, Kirschner’s boss and mentor — were leading that physical expansion for Amazon.

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Death of the HQ? Pandemic hits commercial real estate, but long-term trends still open to debate

GeekWire

Commercial real estate firms, which have their own inherent biases on the topic, remain bullish about employees eventually returning to the office despite increasing vacancy rates over the past quarter. But it may be some time until the commercial real estate market returns to pre-pandemic levels, if at all.

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Seattle office market continues to struggle as vacancy rates rise for ninth consecutive quarter

GeekWire

It also marked the ninth straight quarter of negative net office absorption, which is calculated by the total amount of space leased minus the total space vacated in a given quarter. Companies are reducing real estate footprints with the adoption of hybrid work policies. In Seattle, vacancy rates increased from 16.6%

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JLL reinvents itself for the AI era

CIO Business Intelligence

City skyscrapers and office parks may remain scarcely occupied in the post-pandemic work era, but commercial real estate player JLL’s business is not slowing down, thanks to the company’s embrace of technology and high-growth opportunities to adapt and prosper. Of course, JLL has only just begun to use generative AI and LLMs.

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Zillow Group stock rises after beating Q4 expectations with $474M in revenue

GeekWire

This story originally appeared on Real Estate News. Zillow had a good news, bad news sort of quarter: The company posted a significant net loss in Q4, but managed to pull in better-than-expected revenue from its residential and rental divisions to beat investor expectations. Adjusted EBITDA for the full year was $391 million.

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Adaptive Biotech hires Goldman Sachs to explore ‘strategic alternatives’ for key business lines

GeekWire

GeekWire File Photo) With revenues declining and net losses increasing, Seattle-based Adaptive Biotechnologies on Thursday said it hired Goldman Sachs to help conduct a review of strategic alternatives for its Minimal Residual Disease (MRD) and Immune Medicine businesses. Adaptive’s net loss came in at $50.3 million, compared to $45.3