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Brett Widness

Brett Widness is the managing editor of Urban Land. Previously, he worked in online editorial at the Washington Post, AARP, and AOL, now part of Yahoo!

A native of Los Angeles, Wayne Ratkovich, a ULI Life Trustee and Americas Executive Committee in addition to being founder and CEO of The Ratkovich Company, talks about the importance of ULI in his career.
National rents have barely moved through the entire peak rental season and into September, according to data from Yardi Matrix, marking the longest period of stagnation in recent history—four consecutive months. Coming in at $1,354 for the month of September, the average rent is only 2.2 percent higher than this time last year.
According to a new report from CBRE, investment in the U.S. data center sector reached record levels in the first half of 2017. First half of 2017 investment totaled $18.2 billion, more than double that for all of 2016 (inclusive of all single asset, portfolio and entity-level/M&A transactions). At this pace, investment in the data center sector is on track to surpass the total for the three previous years combined.
Longtime ULI leader Nina J. Gruen, who pioneered the use of behavioral research to predict market demand for commercial and residential real estate, passed away on September 15, 2017. She was 83. Gruen and her husband, Claude Gruen, joined ULI in 1971, not long after founding Gruen Gruen + Associates, a renowned San Francisco–based firm that continues to provide research-based consulting and implementation services to the real estate industry and public land use and planning policy makers. Gruen, who remained active in ULI throughout her career, was elected as the Institute’s first female trustee in 1982, and was named an honorary member in 1996.
A new report from CBRE highlights that the two categories occupying the most space in U.S. malls—department stores at 48.7 percent of gross leasable area, and apparel, accessories, and shoes at 29.4 percent—also posted relatively tepid retail-sales growth from 2011 to 2016. In contrast, categories with stronger retail-sales growth, such as health care, still account for relatively little occupancy of U.S. malls
Sales per square foot at all but a few public retailers have declined to an average of $325 ($3,498 per sq m), down from nearly $375 ($4,036 per sq m) in the early 2000s, according to research by CoStar. But while e-commerce has been disruptive to traditional retailers, several companies, including Apple, Tiffany, and lululemon, have managed to increase sales.
Respondents to RCLCO’s latest Market Sentiment Survey are feeling less optimistic than they were six months ago, but most still see continued stability in market conditions for the near to medium term. Nearly two-thirds (65 percent) of respondents believe the next U.S. real estate market downturn will not begin until at least 2019.
The National Building Museum’s latest Summer Block Party installation – “Hive” – in Washington, D.C., is now open to the public. Designed by Studio Gang, an American architecture and urban design practice with offices in Chicago and New York, Hive is built entirely of more than 2,700 wound paper tubes featuring a reflective silver exterior and a vivid magenta interior, and reaches a height of 60 feet.
JLL’s latest report analyzes markets with a high concentration of in-demand, affordable tech talent and available real estate, much of which is located near research universities that can be tapped for new employees.
Central Hong Kong and London’s West End topped the latest list of prime office occupancy costs, according to CBRE Research’s latest annual Global Prime Office Occupancy Costsreport. “The global top ten list reflects the ongoing strength of global gateway cities in attracting and maintaining a successful occupier base,” said Richard Barkham, global chief economist at CBRE.
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