On Wednesday, Apple won approval from the Reno City Council to build a warehouse in downtown Reno allowing the company to, “Take advantage of millions of dollars in sales tax abatements as it works to double the size of its massive data center east of Reno.” Apple will be adding on to their existing $1 billion data center east of Reno, which received $89 million in tax abatements when it was built in 2012.
Since Tesla announced their solar roof project in October, most people have had the same question, “How much will it cost?” This week the company started taking pre-orders and tried to answer that question. Tesla built an energy savings calculator, and with a little creativity you can plug your commercial properties in to get an estimate for installing a Solar Roof. Currently, buildings are one of the largest consumers of energy. Hopefully, innovations like Tesla’s solar roof will help buildings use less energy, and eventually switch from being energy consumers, to energy generators.
Since 1968 corn production has increased by 47 percent. According to data released by the Department of Agriculture in 2016, corn was 68 percent of the grain harvested in the U.S. This growth is seen even as 2016 prices are half of what they were five years ago. “This locks farmers, as well as machinery-makers including Deere & Co., to the rises and falls of one crop.” In the last year, corn’s footprint, 87 million acres in America, four million more than soybeans and 43 million more acres than wheat. With these cash crops dominating rural land, will it be left to urban farmers and Elon Musk’s brother, Kimbal Musk, to save artisan grains?
The fed is again signaling shake ups in the commercial real estate sector. This time, caused by efforts to overhaul Fannie Mae and Freddie. Historically the companies, which were members of the bail out, have greatly influenced the single-family market, but recently have had a growing footprint in multifamily. Fannie and Freddie hold or guarantee 44 percent of multifamily loans. Federal Reserve Bank of Boston President Eric Rosengren said, “Potential and significant shock to this sector of the commercial real-estate market could occur if proposals require the GSEs to reduce their holdings of multifamily loans.”
According to Bisnow, 2017 will see over 20 billion Internet of Things connected devices, and that number is expected increase 270 percent by 2025. IoT technology has been advancing how buildings are managed, workflows at construction sites and how deals are financed. But every connected device added to commercial real estate poses another weak link in security. Geoff Kasselman, NGKF executive managing director and 2017 SIOR national president, has a very realist view of cyber security saying, “There are two types of businesses: the ones that have been hacked and those that will be.” How are you protecting your company and your customers?