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Posts tagged as Brookfield

Real estate giants try to be more like WeWork, before it overtakes them

In the fight for the future of the real estate industry, legacy firms are trying to figure out how to contend with WeWork.
The beer-loving co-working startup that landlords once welcomed has grown into something much more complicated and powerful, in part through technology.
The company has developed both consumer facing tech, like an app for booking conference rooms and checking out events in its co-working spaces, as well as operational analytics that makes its offices and overall business more efficient.But at Dock 72, an innovative new building in Brooklyns Navy Yard where We Works custom co-working offices and Rise by We fitness studio will soon fill a third of the square footage, landlords are claiming a small victory.The building, co-owned by Boston Properties and Rudin Management, has its own tech. Rudins technology subsidiary, Prescriptive Data, has developed a mobile app to serve as tenants main portal for interacting with the building.For Dock 72, Rudin developed a mobile app to serve as tenants main portal for interacting with the building. [Image: courtesy of Boston Properties]For a long time, the real estate industry collectively slept on technology adoption, but the success of WeWork and Airbnb has been a blaring makeup call.
The recognition was, we needed to be more formal in our process to vet and review technology and innovation in this space, said Kent Tarrach, vice president of asset management at Brook field Property Partners, speaking at the Real Estate Capital Management Conference in January.To remain competitive in real estate, developers and landlords realized they had to pay more attention to innovation in the field.As technology has made aspects of daily life more convenient and as We Works ambitions and breakneck expansion have upended the real estate industry landlords and building managers have scrambled to figure out where they fit into a tech-enabled landscape.You think about Starbucks, says Georgia Collins,head of workplace experiences for U.S. Commercial Real Estate Services (CBRE), a research and industry service provider, It used to be that we all waited in line and waited for our name to be called.Now theres so many people who order ahead of time and just walk in and pick it up.Customers have come to expect that kind of service for everything from meals to dry cleaning and fitness.
Landlords know that in order to attract and keep tenantsand boost the value of their properties they need to be creating similar experiences inside their buildings. The result has meant an investment in cultural amenities and services, with a more thoughtful approach to retail, restaurants, and other programming.
Increasingly landlords and building managers are considering what kinds of events they should be hosting.Software can help pull all of these investments together.
As were building smarter buildings the idea of connecting the building technology to something that is user facing is much more real and appealing, says Collins. Still, she says, there are very few landlords who have come out with their own technology infrastructures.
To fill the gap, CBRE recently launched its own platform called host, a mobile app that businesses can license to connect employees with each other and to on-site amenities. Host also has a concierge service reminiscent of We Works community member service.
Brooklyns Dock 72 [Image: courtesy of Boston Properties]Some landlords are taking equity in new startups as a way to prepare for the future. Brookfield, for example, has invested in project management software for commercial real estate through Honest Buildings and flexible workspace through Convene.
Co-working companies are seen as an opportunity to introduce fledgling companies to a building brand they might eventually grow into on their own lease.Tishman Speyers Zo appAmong those that are innovating inside legacy brands is Tishman Speyer, which owns Rockefeller Center among other properties.
Last year, it launched an app called Zo, to connect tenants with amenities on site. With the app tenants can, for instance, bookfitness classes or order food.
The app also showcases events like wine tastings, talks, and book clubs.Rudin Management was one of a few early adopters.
Around 2009, amid the rise in smartphones, the New York firm began incubating its own technology. The thought was, okay, something this small or that small has an operating system.Why doesnt a building of this size or any size have something comparable? says Rudin.In 2016, the firm released what Michael Rudin refers to as a building operating system, called Nantum.
The software integrates with technology attached to a buildings various subsystems as well as existing building management systems. Its main purpose is to create insight into operations and offer up suggestions for better efficiency.With it, he says, building managers can address problems quicker and tenants can have more control over their heating and cooling. Using a network of beacons and other sensors, Nantum can also analyze office foot traffic to give tenants a sense of how they use their own space and how they can save on energy costs.In 2017,Rudin Management spun out its technology division into a company called Prescriptive Data. It now serves over 30 buildings in 12 separate real estate portfolios.

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Growing Milwaukee’s ‘Vibrant Performing Arts Scene’

We are fortunate to have such a varied and thriving performing arts scene in the greater Milwaukee area. Multiple professional theater companies, Multiple professional theater companies, full-size symphony orchestras, chamber ensembles, opera and stage musical performance companies and several professional dance organizations display their many talents and enrich our lives in many ways.
But imagine what our arts scene would be like if several million dollars were removed from their budgets. Thankfully, such a nightmare scenario won’t play out in reality as long as the United Performing Arts Fund (UPAF) has anything to say about it.UPAF has been setting the stage for its 14 member groups and numerous affiliates (29 all told) through investment in our region’s vibrant performing arts scene for more than half a century. Since its inception, it has raised more than $320 million, allowing arts organizations to continue their creative, inspiring and educational efforts at a high rate of professionalism.
UPAF is not funded by any level of government; all the money it raises comes from individual donors, companies and foundations. At UPAF’s fundraising campaign finale held in June 2018, it was announced that a record $12,065,857 had been raised for the year (a figure that had increased to $12,073,795 when UPAF closed its fiscal year last August)—money that came from nearly 20,000 donors.
“For more than half a century, UPAF has raised essential dollars to ensure that southeastern Wisconsin retains its depth and breadth of performing arts,” says Deanna Tillisch, UPAF president and CEO. “Due to the generous and ongoing support of our donors, sponsors and volunteers, we are able to provide our member groups with the resources required to deliver entertainment excellence and arts education enrichment.
“The performing arts are an inspiration for all of us in greater Milwaukee, and the United Performing Arts Fund is essential to the sustainability of these local assets,” she continues. “With each annual campaign, we rely on the generosity of individuals, companies and foundations to ensure we do not take our vibrant performing arts scene for granted.” She states that several factors contributed to the success of UPAF’s 2018 campaign, including workplace giving campaigns; Bright Minds—their arts education grants program; the “Adopt an Artist” program connecting Milwaukee-area firms with local talent; the “UPAF Connect” community outreach program and more.2019 Campaign Ready for LaunchOn Monday, March 4, at 5:30 p.m. in the Bradley Pavilion of the Marcus Center for the Performing Arts (929 N.Water St.), a new fundraising season officially launches.
It will be emceed by WISN Channel 12 news anchors Sheldon Dutes and Adrienne Pedersen. As for other notables at the kick off, UPAF’s public relations and social media coordinator Katie Korek says they are “still awaiting final confirmations for which of our member groups will be performing at the March 4 launch event,” but that they have confirmed a performance by “Danceworks, and our other performer will most likely be the Milwaukee Rep.” There will also be speeches by Tillisch as well as the three campaign co-chairs—James Barry (president of The Barry Company), Sandra Botcher (vice president of field experience at Northwestern Mutual) and Tim Stewart (attorney and partner at DeWitt LLP). Also in attendance will be Milwaukee Mayor Tom Barrett, Milwaukee County Executive Chris Abele and Waukesha County Executive Paul Farrow.Of special note is a special appearance by Emily Schoen, a Brookfield native who is now a New York City-based dancer, choreographer and one of DanceMagazine’s “Top 25 to Watch” artists. Schoen won Gibney Dance’s “boo-koo” grant for emerging artist in NYC, a Princess Grace Fellowship nomination by METdance and has served as the artist-in-residence for the Jamaica Center for the Arts and Learning.
As a dancer, she’s worked for Kyle Abraham, Nejla Yatkin, the Metropolitan Opera and Keigwin+Company. With these groups, she’s performed at the nation’s finest theaters and toured internationally.
As a dance educator, Emily has fulfilled commissions for Santa Barbara Dance Theater, METdance, Ormao and has worked with university programs across the U.S.Every Dollar CountsFrom major donors to those individuals who give $10, $20, $50 or $100, UPAF invests every dollar received into enhancing Milwaukee’s performing arts scene. “All donations to UPAF help to sustain our 14 member group organizations, providing them crucial operating funding.
This support allows the organizations to put their focus on what they do best: creating, performing, inspiring and educating,” Korek says. “UPAF’s promise to donors is to cost-effectively raise funds that will enhance the vibrancy of southeastern Wisconsin through a vital performing arts scene.UPAF’s sound fiscal management practices and commitment to accountability and transparency have earned the organization a four-star rating (the highest-possible level) from Charity Navigator, America’s largest independent charity watchdog.”By directly supporting groups like First Stage, the Florentine Opera, the Milwaukee Ballet, the Milwaukee Symphony Orchestra, the Bel Canto Chorus, Danceworks and others, UPAF’s work—made possible through generous community donations—has a ripple effect throughout the region.
“The performing arts generate nearly $80 million in event-related spending above the price of the ticket in the greater Milwaukee area, in addition to employing nearly 4,000 people,” Korek explains. “They drive tourism—with visitors staying longer and spending more—be it on dining, lodging, etc.”“A vibrant performing arts scene also attracts innovative companies and talented employees to our area. Overall, contributing to UPAF is a local investment—helping to nurture local talent and creativity as well as helping to boost our economy.”For more about UPAF and its 2019 campaign launch event, call 414-273-8723 or visit upaf.org.
TagsMayor Tom BarrettUnited Performing Arts FundKatie KorekMarcus Center for the Performing ArtsBradley PavilionEmily SchoenAdrienne PedersenSheldon DutesPaul FarrowDeanna TillischCharity NavigatorChris AbeleJohn JahnJohn Jahn is a graduate of UW-Milwaukee and resident of Riverwest. He writes and edits for the Shepherd Express and has edited several books.John was AE Editor for the Milwaukee-based LGBTQ weekly, The Wisconsin Light, throughout the 1990s.

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