These three cities also have some of the lowest office occupancy rates in the country: Less than 40% of the workforce was back in the office as of early December, according to Kastle Systems, which tracks how many people swipe into buildings.
office research at Jones Lang LaSalle Inc. In New York and San Francisco, more than 80% of all office space is more than 30 years old, and Chicago isn’t far behind, according to Phil Ryan, director of U.S. The new owner plans to demolish the office buildings and convert the Northbrook, Ill., site into more than 3 million square feet of e-commerce warehouses and other logistics facilities. The insurer reached a deal last month to sell most of the campus. Make a fortune by shorting office owners.Īllstate Corp.’s suburban campus outside Chicago, with its interconnected buildings, manicured grounds and acres of parking, represented a new vision for the U.S. The uncertainty has led to a flurry of bets by investors looking to The surging popularity of remote work have changed that. “I didn’t think I would ever live in a world where industrial land is worth more than office land.” For many years, investors saw office space as a safe and predictable place to put their money.
The new owner of Allstate's campus plans to demolish the office buildings and convert the site into 3 million square feet ofĮ-commerce warehouses and logistics facilities. Konrad Putzier, Chip Cutter and Peter Grant report in the Wall Street Journal: That uncertainty has created an arbitrage opportunity based on the value of competing types of commercial real estate.
Send us feedback.Given the confusion generated by Covid and its impact on hybrid versus full time versus remote work, no one is really sure how much demand there will be for office space in the near to long term future.īut there is relative predictability about the extraordinary growth in ecommerce delivery and its affect on logistics space demand. These example sentences are selected automatically from various online news sources to reflect current usage of the word 'entrepreneur.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. 2021 The fashion designer and entrepreneur discusses coming together with her daughters to work on Baby Phat. 2022 The Atlanta barber shop owned by activist, hip-hop star and entrepreneur Killer Mike was vandalized earlier this week with graffiti. 2022 The actor and entrepreneur was diagnosed with bone cancer at just 18 years old, during his freshman year of college.ĭan Heching,, 7 Jan. 2022 Situated in Beverly Hills, the 6.7-acre property was built for Norman Zada, a mathematician and entrepreneur who at one point dated comedian Joan Rivers. 2022 In November, the model and entrepreneur headed to Miami to celebrate her friend Lauren Perez's wedding. 2022 Nino Cerruti, the designer and entrepreneur credited with the first deconstructed jacket in the 1970s, died yesterday.įabiana Giacomotti, Vogue, 16 Jan. 2022 On Monday, the rapper, activist and entrepreneur brought his message of action to Birmingham.ĭennis Pillion | al, 17 Jan. Recent Examples on the Web In addition, Beck has made inroads as an actor, model and entrepreneur. During the 19th century, it was also used of a go-between or a person who undertakes any kind of activity (as opposed to just a business).īy the early 20th century entrepreneur appears to have taken on the connotation of go-getter when applied to an independent business owner, a quality that may also be found in the phrase entrepreneurial spirit, which began being used at about the same time.
if the country happens not to abound in forage, you must agree with some Entrepreneur for the quantity required.”). The answer, perhaps unsatisfyingly, is that it can go in either direction.Įntrepreneur has been used in English to refer to a kind of businessman since at least the middle of the 18th century, when it appeared in translation of the King of Prussia’s instructions for his generals (“. You might well wonder whether entrepreneur simply means “a person who starts a business and is willing to risk loss in order to make money” or whether it carries an additional connotation of far-sightedness and innovation.