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Blackstone’s Head of Real Estate Talks Tech

Blackstone’s Head of Real Estate Talks Tech

In a recent interview, Jon Gray, the head of real estate for private equity giant Blackstone, spoke about the role technology is playing in the commercial real estate world. Gray stated that despite expectations, technology actually plays a major role in how capital is deployed. One major shift Gray identified was the rise in online retail. More online retail means less brick-and-mortar stores and more warehouse space. For this reason, Blackstone, the world’s largest real estate investor, has purchased over 400 million square feet of warehouse space in North America, Europe, Asia, and Brazil over the course of the last seven years.

 

Image Credit: Secom Bahia (CC by 2.0)

 

Gray also discussed the rise of cities and regions that successfully appeal to millennials, citing Seattle, Northern California, West Los Angeles, Austin, Manhattan and Boston-Cambridge in North America as well as Stockholm, London, Dublin, Amsterdam and Berlin in Europe. Gray pointed out that the cultural opportunities in these cities, such as food, music and art, attract millennials, and thus become fertile ground for low-cost tech companies and job creation. Commercial real estate firms can then make investments based on this trend.

 

 

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RT @SeattlesBanker: OCC seeks to raise appraisal thresholds for commercial real estate loans https://t.co/4MCDfFvzyD

RT @seattlepi: Commercial real estate sellers are trying some new angles in selling properties for development in Seattle. https://t.co/7dO…

RT @EW: ICYMI: Netflix says more #ArrestedDevelopment is in the works: http://t.co/ZbHdbixpKF http://t.co/Lqg5jBp69i

Address of Real Bluth Model Home REVEALED #ArrestedDevelopment: http://t.co/1qNT2TPwz0 http://t.co/gjcWN8U7HL

Art Stable, by Olson Kundig Architects, Seattle, Wash. The live/work loft project includes a seven-s http://t.co/6Oi9pWs1BS

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RT @bohamrick: 7 Apps Every Commercial Real Estate Broker Needs https://t.co/6OdRC3Fubg
RT @richdadedu: What Are The 3 Key Metrics For Commercial Real Estate? https://t.co/aciBdlr9FJ - Attend our next online training: https://…
RT @NAR_Research: Trends, opportunities, and potential speed bumps to look out for in commercial real estate #CRE: https://t.co/oaytzsvIbu…
RT @REoptimizer: 4 Myths About Commercial Real Estate...Debunked #CRE https://t.co/1UhWY0xkD1 https://t.co/kWJbGXhSMa
RT @SeattlesBanker: OCC seeks to raise appraisal thresholds for commercial real estate loans https://t.co/4MCDfFvzyD
RT @seattlepi: Commercial real estate sellers are trying some new angles in selling properties for development in Seattle. https://t.co/7dO…
RT @EW: ICYMI: Netflix says more #ArrestedDevelopment is in the works: http://t.co/ZbHdbixpKF http://t.co/Lqg5jBp69i
Address of Real Bluth Model Home REVEALED #ArrestedDevelopment: http://t.co/1qNT2TPwz0 http://t.co/gjcWN8U7HL
Art Stable, by Olson Kundig Architects, Seattle, Wash. The live/work loft project includes a seven-s http://t.co/6Oi9pWs1BS
Aros: Federal Center South Building 1202, Seattle, Washington. Commercial Real Estate #commercialre http://t.co/lRX2VhtOZ5