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Nationwide overbuilding is causing rents in even the hottest markets to plummet, freeze


Nationwide overbuilding is causing rents in even the hottest markets to plummet, freeze Minuscule 0.5 percent gain in U.S. rents over July was the smallest increase since 2012 (Credit from left: Henk Monster, Wikimedia Foundation) Timing is everything. It’s a great time to be renting in America as a glut of new supply is causing rents across the country to take a nosedive. Meanwhile, the lag time between the planning and delivery of rental projects is hurting developers and landlords who are now feeling the crunch. But the signs were there for the past few years, as Zillow’s senior economist Aaron Terrazas explained to Bloomberg. “This is something that we first started to see two years ago in New York and D.C.,” he said. “A year ago, it was San Francisco and most recently, Seattle and Portland. It’s spreading through what once were the fastest growing rental markets.” Best case,...
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Madison Square Garden Co. accuses Inglewood mayor of “outrageous, fraudulent conduct”


Madison Square Garden Co. accuses Inglewood mayor of “outrageous, fraudulent conduct” The owner of The Forum is suing and holding the mayor personally liable for damages (Credit from left: Ritapepaj/Wikimedia Commons, Wikimedia Commons) The former home of the Lakers is taking issue with the Clippers trying to move in nearby. The owner of The Forum, Madison Square Garden Co., is accusing the city of Inglewood and mayor, James T. Butts Jr., of fraudulent behavior saying he convinced them to forgo buying a $6.9 million, 15-acre tract of land that executives later learned he was in talks to sell to the Clippers for a new stadium, according to the Daily Breeze. MSG said it didn’t pursue buying the land because company representatives believed the mayor was developing a technology park. The Forum’s termination agreement with the city specified that whatever development did go forward on the site, it would not be...
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Meet the developers building the country’s wildest spec homes



Meet the developers building the country’s wildest spec homes “It’s a crazy business; you don’t do it unless you’re a little nuts." The “Billionaire” spec house in Bel Air and Bruce Makowsky (Credit: Makowsky via LA Times, Getty) Are you prepared to bet tens of millions of dollars on building outrageously lavish spec homes that you hope to sell for nine-figure sums? If the answer is yes, you’re part of a small and extremely quirky club. Despite murmurs of a slowdown at the top of the luxury market, a handful of Los Angeles developers are creating playgrounds for the ultra-wealthy with price tags of high as $500 million. It’s an extremely risky proposition – these builders risk being stuck with gilded, one-off properties that they’ve sunk substantial money into. The personalities and stories of these spec builders tend to be as colorful as the homes themselves. “It’s a crazy business,”...
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This week in celeb real estate: An $88M home comes to market, a plot with Hollywood history is for sale.. & more


This week in celeb real estate: An $88M home comes to market, a plot with Hollywood history is for sale.. & more Michael Palumbo, Gary L. Wilson and the guest house of 320 Delfern Drive (Credit: iStock, Pixabay) Sell, sell, sell. At least that’s what celebrities in Los Angeles are hoping for this week. Four lavish homes came on the market, ranging from new construction specs to residences rich in Hollywood history. The most expensive listing this week can be spotted in Bel Air, where a luxury spec home is under construction. Elite Investment Management is building the 19,000-square-foot mansion , listed at $88 million. Once completed, it will include a 1,700-gallon fish tank, wine and cigar lounge, 18-seat movie theater and even a waterfall. Architect Michael Palumbo designed the three-story house. Another yet-to-be-completed property hit the market nearby. A parcel of land adjacent to one of Holmby Hills’ grand...
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‘House of Sin’ party pad lists for $8.5M





‘House of Sin’ party pad lists for $8.5M Photog Richard Franklin shot celebs and 600 models there “House of Sin” (Jerrod Jones) A Hollywood Hills home designed with a playboy bachelor’s dreams in mind hit the market this week for $8.5 million. Nicknamed the “House of Sin,” the eight-story home on Sunset Plaza Drive, near the Bird Streets , is known for its eclectic and alluring decor.   The owner, photographer Richard Franklin, frequently worked on photoshoots at the home with celebrity clientele, such as Kim Kardashian, and more than 600 models, according to a spokesperson for Franklin.     Designed to accommodate an over-the-top party lifestyle, it features a rooftop pool and hot tub, an indoor spa, a dancing studio, a casino, and a black-light disco nightclub. The 5,332 square-foot house has five bedrooms and six bathrooms. The home was built in 1990. Franklin purchased it five years later...
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City Council signs off on one-year pilot program for e-scooters


City Council signs off on one-year pilot program for e-scooters The decision follows new rules set by Santa Monica officials City Hall and Bird scooters (Credit: Wikimedia Commons) The Los Angeles City Council approved a pilot program for dockless scooters, further establishing the presence of startups like Bird and Lime in Southern California. The new set of regulations, which the council approved on Tuesday, will allow each company to launch 3,000 electric scooters and bikes, the Los Angeles Business Journal reported. They’ll also have the opportunity to launch another 2,500 in low-income neighborhoods, and up to 5,000 more in pockets of the San Fernando Valley. That amounts to a maximum of 10,500 vehicles per company, a drastic upgrade from when the City Council was considering a proposed citywide ban last month. While the final policies are being finalized, council members will have the flexibility to further regulate the companies. For...
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Mesirow Financial closes latest real estate fund at $567M


Mesirow Financial closes latest real estate fund at $567M The funding will help support investment for multifamily properties and student housing Mesirow Financial CEO Dominick Mondi and generic multifamily homes (Credit: Mesirow Financial and iStock) Mesirow Financial closed its Real Estate Value Fund III at $567 million, attracting commitments from institutional investors across the U.S., Europe and Australia. The fund is managed by Mesirow Financial’s Real Estate — Direct team, which focuses on the multifamily and student housing sectors in the United States, according to RE Journals. The closing follows two previous funding rounds that allowed the firm to acquire more than $1.6 billion in assets. The real estate investment team for Chicago-based Mesirow has raised $1.5 billion in equity over the past five years and has invested in nearly 13,000 multifamily units in 23 cities nationwide. Private real estate investment funds closed out the second quarter with the lowest...
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Video game publisher Nexon inks lease in El Segundo


Video game publisher Nexon inks lease in El Segundo Company is moving from Starwood's PCT to standalone creative office A rendering of the 621 Hawaii Street property (Source: Montana Avenue Capital Partners Video game publisher Nexon America is leaving Starwood’s PCT complex for a standalone office less than two miles away. The company signed a nine-year, 49,000-square-foot lease at 621 Hawaii Street, according to the Los Angeles Business Journal. The property includes a backyard, patios, video streaming rooms, video editing suites, and a 15,000-square-foot gaming area. The new office will be the company’s headquarters. It’s unclear how much square footage the company leased at PCT. The company laid off an undisclosed number of employees in February — up to a fifth of its workforce — according to sources cited by gamesindustry.biz. Nexon’s new landlord is Montana Avenue Capital Partners, a Santa Monica-based firm. Montana renovated the 53-year-old building as a...
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Tencent, Warburg Pincus are betting big on China’s housing market


Tencent, Warburg Pincus are betting big on China’s housing market The companies are investing $1.5B in a brokerage firm Tencent CEO Ma Huateng and the Beijing skyline (Credit: Getty Images and Francisco Anzola via Flickr) Chinese internet giant Tencent is betting $1 billion on one of the country’s largest brokerages. Beijing-based Lianjia is planning to raise about $2 billion from investors including Tencent and private equity firm Warburg Pincus, the Wall Street Journal reported. The fundraising round would value the company at roughly $13 billion. Warburg Pincus is investing $500 million, the report said. Sign up for China Watch for weekly emails on Chinese real estate investments. Lianjia, whose formal name is Homelink Real Estate Agency Co., has a website for sale and rental listings and also offers services including home decor and property management. It operates 8,000 retail outlets with brokerage services in 28 Chinese cities, and has close...
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A market grows for entitled LA properties


330 N. Patton Street and Keller Williams Realty agent Shawn Kormondy (Credit: iStock) Go on, take the money and run. That was the temptation facing Thomas Agius, owner of a development property in Echo Park, after a two-year ordeal entitling it for a 32-unit multifamily development. A few years earlier, the developer had high hopes for the 11,200-square-foot piece of land. He planned to develop the apartment building on the site at N. Patton Street, with a mix of units that would each have their own balcony. But the grueling process to entitle the property took its toll. Agius is one of a number of developers in Los Angeles who are struggling with a sort of post-entitlement hangover that leaves them with little appetite to break ground. Thanks to a strong market for entitled properties, they have a way out — sell their shovel-ready, recently entitled sites to builders at...
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The Resurgence of Legionnaires’ Disease

Facility Maintenance Decisions
Dan Dounsell Headshot
Editoral: Dan Hounsell Dan Hounsell, Editor-in-Chief, advises managers to watch out for the resurgence of Legionnaires’ disease. By Dan Hounsell, Editor-in-Chief    Plumbing & Restrooms    Article Use Policy New things get people’s attention. Whether the new thing is a technology advance, a building, or a law, people take notice. But for maintenance and engineering managers, their challenges go far beyond just keeping up with what’s new. A host of age-old problems keep them up at night. One such problem with potentially fatal results seems to be returning — Legionnaires’ disease. Since researchers identified the disease in 1976, it has re-emerged periodically, sickening and even killing building occupants and visitors through contaminated water droplets from HVAC systems. Lately, a string of reports of the illness has hit the news: • A cluster of 22 cases of Legionnaires’ disease were diagnosed in New York City in July, and one person died....
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Green Button Alliance Launches Green Button Connect My Data (CMD)

The Green Button Alliance (GBA), which fosters the development, compliance, and adoption of the industry-standard Green Button energy and water data-access and -sharing protocol, recently (9/5) announced the launch of its Green Button Connect My Data (CMD) Certification Program for data custodians. Utilities pro]]> Original link
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Carbon Engineering thanks partners and vendors for continued collaboration

With the recent publication of our Direct Air Capture (DAC) cost analysis paper behind us, we wanted to provide an update on some of the work that takes place behind the scenes at our pilot plant in Squamish, B.C. Although our DAC and AIR TO FUELS technologies have been successfully proven and demonstrated, our pilot plant continues to operate]]> Original link
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FEMME 2018 France


The Forum for Exchange of Mutual Multibeam Experiences (FEMME 2018) takes place in France from 11-14 September 2018. Original link
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WOW RO- Water On Water Reverse Osmosis

We are proud to announce the distribution of the new WOW RO. The WOW RO uses water on water technology that produces higher flow, reduces waste water, and has a tank life of over 10 years. With its patented technology, the WOW RO offers the following advantages over traditional air captive R.O. systems:Quick and Easy installationRequires Half the SpaceRefill Rates 4x Fast]]> Original link
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Sun cream sheds titanium dioxide in the sea, French study suggests

Swimmers` sun creams deposit titanium dioxide nanoparticles into the sea, where their protective coatings may be washed away, according to a French study. Last year, a team led by Dr Jérôme Labille from Aix-Marseille Université analysed titanium dioxide levels in the water off three French beaches. Their social scientist colleagues counted the number of beach users, asked them ab]]> Original link
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Alstom’s Taubaté site, in Brazil, receives new project and resumes industrial activities



Alstom announces the opening of a new production line at TaubatГ© site, focused on the manufacture of stainless steel carshells for the Santiago Metro, in Chile. The adaptation is part of the resumption of industrial activities in this unit, and also covers the hiring of new employees. The factory restarts industrial operations after the end of production of 32 Citadis tramways for Rio de Janeiro. The new project, named NS16, will deliver 35 new trains to the Santiago Metro. The carshells, after being manufactured in Brazil, are shipped to Alstom’s unit in Chile, which concludes the assembly for final delivery to the customer. The project started at the Alstom’s Lapa site, also in Brazil, and will be completed in the city of TaubatГ©, where the remaining 166 carshells will be produced. To meet this demand, by 2020 the factory will have approximately 120 employees in the administrative and operational areas....
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New England BioLabs: A case study

The EVAPCO New England BioLabs case study recently was published in  HVAC & Plumbing Product News . With the work that New England BioLabs performs, it was of great importance to find the right equipment to meet the company`s specific requirements. AHA Consulting Engineers, Inc.considered several fluid cooler option]]> Original link
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Problem Solvers - Morgan, man about Machines

I’ve been in my current role at Smiley Monroe for nearly a year now, having joined the Giants of Belting back in 2012, two years after leaving school. Growing up around construction equipment and heavy machinery in County Fermanagh, Northern Ireland, meant all things mechanical was in my blood from an early age! It was my mechanical background that led me to my first job as an appren]]> Original link
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Monitoring CO2 Concentrations in Pig and Poultry Processing

  Over recent years, there has been increasing concern for raising animal welfare standards in pig and poultry processing and the meat processing industry as a whole. This covers not just the animal’s environment and diet but also the procedures used in the slaughtering process. To ensure that an animal is insensitive to pain while being slaughtered, a European Union directive1requires that]]> Original link
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