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DUBLIN, Aug. 25, 2020 /PRNewswire/ -- The "Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type; Annotation Type; End-user" report has been added to ResearchAndMarkets.com's offering.

The global data annotation tools market was valued at US$ 695.5 million in 2019 and is projected to reach US$ 6,450.0 million by 2027; it is expected to grow at a CAGR of 32.54% from 2020 to 2027.

The process of data annotation includes labeling of data which makes it usable for machine learning. Data annotation tools are important for data scientists as they make use of the labeled data with machine learning algorithms. Data can be in any form, such as images (from cars, phones, or medical instruments), text (in English, Spanish, Chinese, and among others), audio, and video. There are different types of annotation techniques like polygon annotation, semantic segmentation, bounding box annotation, landmark annotation, polylines annotation, and 3D point cloud annotation. In house teams can label the data if it is a small set, but this can be time consuming. When large amount of data is to be annotated, it is outsourced to companies like Precise BPO Solution, who can handle millions of annotations in a week and it significantly saves time. Further, the increasing investments by various market players in data annotation techniques in order to offer high quality labeled data are expected to play a significant role in the growth of the market.

The applications of data annotation are growing strongly across the globe. Face detection and recognition is one of the major applications of data annotation. Countries across the globe are implementing various facial technologies to create social status and award penalties for public menace to its citizens. For instance, China has installed 200 million surveillance cameras, one camera for every seven of its citizens. It plans to install about 400 million new cameras by 2021 in the country, for security and traffic control purposes.

The market for data annotation tools has been segmented into type, annotation type, end user, and geography. Based on type, the data annotation tools market has been segmented into text, image, and others. Based on annotation type, the data annotation tools market has been segmented into manual, semi-supervised, and automatic. Based on end user, the data annotation tools market has been segmented into automotive, government, healthcare, financial services, retail, IT & telecom, and others. Geographically, the data annotation tools market is segmented into five regions: North America, Europe, APAC, MEA, and South America.

Appen Limited, CloudFactory Limited, Cogito, Deep Systems, Google LLC, Labelbox, Inc, LIGHTTAG, Tagtog Sp. z o.o., PLAYMENT INC., and SCALE AI, INC. are some of the well-established market players present in the global data annotation tools market.

Reasons to Buy:

Key Topics Covered:

1. Introduction1.1 Study Scope1.2 Report Guidance1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology3.1 Coverage3.2 Secondary Research3.3 Primary Research

4. Data Annotation Tools Market Landscape4.1 Market Overview4.2 PEST Analysis4.2.1 North America PEST Analysis4.2.2 Europe PEST Analysis4.2.3 APAC PEST Analysis4.2.4 MEA PEST Analysis4.2.5 SAM PEST Analysis4.3 Ecosystem Analysis4.4 Expert Opinions

5. Data Annotation Tools Market - Key Industry Dynamics5.1 Drivers5.1.1 Growing Applications of Data Annotation5.1.2 Increasing Investments by Market Players5.2 Market Restraints5.2.1 Lack of Skilled Labor and Disadvantages Associated with Annotation Techniques5.3 Market Opportunities5.3.1 Trend of e-Education Across the world5.4 Future Trends5.4.1 Increasing Organic Development by Market Players5.5 Impact Analysis of Drivers and Restraints

6. Data Annotation Tools Market - Global Market Analysis6.1 Data Annotation Tools Market Overview6.2 Data Annotation Tools Market -Revenue, and Forecast to 2027 (US$ Million)6.3 Market Positioning - Global Key Players

7. Data Annotation Tools Market Analysis - By Type7.1 Overview7.2 Global Data Annotation Tools Market Breakdown, By Type, 2017 & 20277.3 Text7.3.1 Overview7.3.2 Text Market Revenue and Forecast to 2027 (US$ Mn)7.4 Image7.4.1 Overview7.4.2 Image Market Revenue and Forecast to 2027 (US$ Mn)7.5 Others7.5.1 Overview7.5.2 Others Market Revenue and Forecast to 2027 (US$ Mn)

8. Data Annotation Tools Market Analysis - By Annotation Type8.1 Overview8.2 Global Data Annotation Tools Market Breakdown, By Annotation Type, 2017 & 20278.3 Manual8.3.1 Overview8.3.2 Manual Market Revenue and Forecast to 2027 (US$ Mn)8.4 Semi-Supervised8.4.1 Overview8.4.2 Semi-Supervised Market Revenue and Forecast to 2027 (US$ Mn)8.5 Automatic8.5.1 Overview8.5.2 Automatic Market Revenue and Forecast to 2027 (US$ Mn)

9. Data Annotation Tools Market Analysis - By End User9.1 Overview9.2 Global Data Annotation Tools Market Breakdown, By End User, 2017 & 20279.3 Automotive9.3.1 Overview9.3.2 Automotive Market Revenue and Forecast to 2027 (US$ Mn)9.4 Healthcare9.4.1 Overview9.4.2 Healthcare Market Revenue and Forecast to 2027 (US$ Mn)9.5 Government9.5.1 Overview9.5.2 Government Market Revenue and Forecast to 2027 (US$ Mn)9.6 Financial Services9.6.1 Overview9.6.2 Financial Services Market Revenue and Forecast to 2027 (US$ Mn)9.7 Retail9.7.1 Overview9.7.2 Semi-Supervised Market Revenue and Forecast to 2027 (US$ Mn)9.8 IT and Telecom9.8.1 Overview9.8.2 IT and Telecom Market Revenue and Forecast to 2027 (US$ Mn)9.9 Others9.9.1 Overview9.9.2 Others Market Revenue and Forecast to 2027 (US$ Mn)

10. Data Annotation Tools Market - Geographic Analysis10.1 Overview10.2 North America: Data Annotation Tools Market10.3 Europe: Data Annotation Tools Market10.4 APAC: Data Annotation Tools Market10.5 MEA: Data Annotation Tools Market10.6 SAM: Data Annotation Tools Market

11. Industry Landscape11.1 Overview11.2 Growth Strategies Done By the Companies in the Market, (%)11.3 Organic Developments Done By The Companies In The Market11.4 Inorganic Developments Done By The Companies In The Market

12. COMPANY PROFILES12.1 Cogito12.1.1 Key Facts12.1.2 Business Description12.1.3 Products and Services12.1.4 Financial Overview12.1.5 SWOT Analysis12.1.6 Key Developments12.2 Google LLC12.2.1 Key Facts12.2.2 Business Description12.2.3 Products and Services12.2.4 Financial Overview12.2.5 SWOT Analysis12.2.6 Key Developments12.3 Deep Systems12.3.1 Key Facts12.3.2 Business Description12.3.3 Products and Services12.3.4 Financial Overview12.3.5 SWOT Analysis12.3.6 Key Developments12.4 Appen Limited12.4.1 Key Facts12.4.2 Business Description12.4.3 Products and Services12.4.4 Financial Overview12.4.5 SWOT Analysis12.4.6 Key Developments12.5 Labelbox, Inc12.5.1 Key Facts12.5.2 Business Description12.5.3 Products and Services12.5.4 Financial Overview12.5.5 SWOT Analysis12.5.6 Key Developments12.6 LightTag12.6.1 Key Facts12.6.2 Business Description12.6.3 Products and Services12.6.4 Financial Overview12.6.5 SWOT Analysis12.6.6 Key Developments12.7 PLAYMENT INC.12.7.1 Key Facts12.7.2 Business Description12.7.3 Products and Services12.7.4 Financial Overview12.7.5 SWOT Analysis12.7.6 Key Developments12.8 Scale AI, Inc.12.8.1 Key Facts12.8.2 Business Description12.8.3 Products and Services12.8.4 Financial Overview12.8.5 SWOT Analysis12.8.6 Key Developments12.9 Tagtog Sp. z o.o.12.9.1 Key Facts12.9.2 Business Description12.9.3 Products and Services12.9.4 Financial Overview12.9.5 SWOT Analysis12.9.6 Key Developments12.10 CloudFactory Limited12.10.1 Key Facts12.10.2 Business Description12.10.3 Products and Services12.10.4 Financial Overview12.10.5 SWOT Analysis12.10.6 Key Developments

13. Appendix13.1 About the Publisher13.2 Glossary of Terms

For more information about this report visit https://www.researchandmarkets.com/r/y7zg4z

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Worldwide Data Annotation Tools Industry to 2027 - Trends of e-Education Across the World Present Opportunities - PRNewswire

Dublin, Aug. 25, 2020 (GLOBE NEWSWIRE) -- The "Data Annotation Tools Market to 2027 - Global Analysis and Forecasts by Type; Annotation Type; End-user" report has been added to ResearchAndMarkets.com's offering.

The global data annotation tools market was valued at US$ 695.5 million in 2019 and is projected to reach US$ 6,450.0 million by 2027; it is expected to grow at a CAGR of 32.54% from 2020 to 2027.

The process of data annotation includes labeling of data which makes it usable for machine learning. Data annotation tools are important for data scientists as they make use of the labeled data with machine learning algorithms. Data can be in any form, such as images (from cars, phones, or medical instruments), text (in English, Spanish, Chinese, and among others), audio, and video. There are different types of annotation techniques like polygon annotation, semantic segmentation, bounding box annotation, landmark annotation, polylines annotation, and 3D point cloud annotation. In house teams can label the data if it is a small set, but this can be time consuming. When large amount of data is to be annotated, it is outsourced to companies like Precise BPO Solution, who can handle millions of annotations in a week and it significantly saves time. Further, the increasing investments by various market players in data annotation techniques in order to offer high quality labeled data are expected to play a significant role in the growth of the market.

The applications of data annotation are growing strongly across the globe. Face detection and recognition is one of the major applications of data annotation. Countries across the globe are implementing various facial technologies to create social status and award penalties for public menace to its citizens. For instance, China has installed 200 million surveillance cameras, one camera for every seven of its citizens. It plans to install about 400 million new cameras by 2021 in the country, for security and traffic control purposes.

The market for data annotation tools has been segmented into type, annotation type, end user, and geography. Based on type, the data annotation tools market has been segmented into text, image, and others. Based on annotation type, the data annotation tools market has been segmented into manual, semi-supervised, and automatic. Based on end user, the data annotation tools market has been segmented into automotive, government, healthcare, financial services, retail, IT & telecom, and others. Geographically, the data annotation tools market is segmented into five regions: North America, Europe, APAC, MEA, and South America.

Appen Limited, CloudFactory Limited, Cogito, Deep Systems, Google LLC, Labelbox, Inc, LIGHTTAG, Tagtog Sp. z o.o., PLAYMENT INC., and SCALE AI, INC. are some of the well-established market players present in the global data annotation tools market.

Reasons to Buy:

Key Topics Covered:

1. Introduction1.1 Study Scope1.2 Report Guidance1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology3.1 Coverage3.2 Secondary Research3.3 Primary Research

4. Data Annotation Tools Market Landscape4.1 Market Overview4.2 PEST Analysis4.2.1 North America PEST Analysis4.2.2 Europe PEST Analysis4.2.3 APAC PEST Analysis4.2.4 MEA PEST Analysis4.2.5 SAM PEST Analysis4.3 Ecosystem Analysis4.4 Expert Opinions

5. Data Annotation Tools Market - Key Industry Dynamics5.1 Drivers5.1.1 Growing Applications of Data Annotation5.1.2 Increasing Investments by Market Players5.2 Market Restraints5.2.1 Lack of Skilled Labor and Disadvantages Associated with Annotation Techniques5.3 Market Opportunities5.3.1 Trend of e-Education Across the world5.4 Future Trends5.4.1 Increasing Organic Development by Market Players5.5 Impact Analysis of Drivers and Restraints

6. Data Annotation Tools Market - Global Market Analysis6.1 Data Annotation Tools Market Overview6.2 Data Annotation Tools Market -Revenue, and Forecast to 2027 (US$ Million)6.3 Market Positioning - Global Key Players

7. Data Annotation Tools Market Analysis - By Type7.1 Overview7.2 Global Data Annotation Tools Market Breakdown, By Type, 2017 & 20277.3 Text7.3.1 Overview7.3.2 Text Market Revenue and Forecast to 2027 (US$ Mn)7.4 Image7.4.1 Overview7.4.2 Image Market Revenue and Forecast to 2027 (US$ Mn)7.5 Others7.5.1 Overview7.5.2 Others Market Revenue and Forecast to 2027 (US$ Mn)

8. Data Annotation Tools Market Analysis - By Annotation Type8.1 Overview8.2 Global Data Annotation Tools Market Breakdown, By Annotation Type, 2017 & 20278.3 Manual8.3.1 Overview8.3.2 Manual Market Revenue and Forecast to 2027 (US$ Mn)8.4 Semi-Supervised8.4.1 Overview8.4.2 Semi-Supervised Market Revenue and Forecast to 2027 (US$ Mn)8.5 Automatic8.5.1 Overview8.5.2 Automatic Market Revenue and Forecast to 2027 (US$ Mn)

9. Data Annotation Tools Market Analysis - By End User9.1 Overview9.2 Global Data Annotation Tools Market Breakdown, By End User, 2017 & 20279.3 Automotive9.3.1 Overview9.3.2 Automotive Market Revenue and Forecast to 2027 (US$ Mn)9.4 Healthcare9.4.1 Overview9.4.2 Healthcare Market Revenue and Forecast to 2027 (US$ Mn)9.5 Government9.5.1 Overview9.5.2 Government Market Revenue and Forecast to 2027 (US$ Mn)9.6 Financial Services9.6.1 Overview9.6.2 Financial Services Market Revenue and Forecast to 2027 (US$ Mn)9.7 Retail9.7.1 Overview9.7.2 Semi-Supervised Market Revenue and Forecast to 2027 (US$ Mn)9.8 IT and Telecom9.8.1 Overview9.8.2 IT and Telecom Market Revenue and Forecast to 2027 (US$ Mn)9.9 Others9.9.1 Overview9.9.2 Others Market Revenue and Forecast to 2027 (US$ Mn)

10. Data Annotation Tools Market - Geographic Analysis10.1 Overview10.2 North America: Data Annotation Tools Market10.3 Europe: Data Annotation Tools Market10.4 APAC: Data Annotation Tools Market10.5 MEA: Data Annotation Tools Market10.6 SAM: Data Annotation Tools Market

11. Industry Landscape11.1 Overview11.2 Growth Strategies Done By the Companies in the Market, (%)11.3 Organic Developments Done By The Companies In The Market11.4 Inorganic Developments Done By The Companies In The Market

12. COMPANY PROFILES12.1 Cogito12.1.1 Key Facts12.1.2 Business Description12.1.3 Products and Services12.1.4 Financial Overview12.1.5 SWOT Analysis12.1.6 Key Developments12.2 Google LLC12.2.1 Key Facts12.2.2 Business Description12.2.3 Products and Services12.2.4 Financial Overview12.2.5 SWOT Analysis12.2.6 Key Developments12.3 Deep Systems12.3.1 Key Facts12.3.2 Business Description12.3.3 Products and Services12.3.4 Financial Overview12.3.5 SWOT Analysis12.3.6 Key Developments12.4 Appen Limited12.4.1 Key Facts12.4.2 Business Description12.4.3 Products and Services12.4.4 Financial Overview12.4.5 SWOT Analysis12.4.6 Key Developments12.5 Labelbox, Inc12.5.1 Key Facts12.5.2 Business Description12.5.3 Products and Services12.5.4 Financial Overview12.5.5 SWOT Analysis12.5.6 Key Developments12.6 LightTag12.6.1 Key Facts12.6.2 Business Description12.6.3 Products and Services12.6.4 Financial Overview12.6.5 SWOT Analysis12.6.6 Key Developments12.7 PLAYMENT INC.12.7.1 Key Facts12.7.2 Business Description12.7.3 Products and Services12.7.4 Financial Overview12.7.5 SWOT Analysis12.7.6 Key Developments12.8 Scale AI, Inc.12.8.1 Key Facts12.8.2 Business Description12.8.3 Products and Services12.8.4 Financial Overview12.8.5 SWOT Analysis12.8.6 Key Developments12.9 Tagtog Sp. z o.o.12.9.1 Key Facts12.9.2 Business Description12.9.3 Products and Services12.9.4 Financial Overview12.9.5 SWOT Analysis12.9.6 Key Developments12.10 CloudFactory Limited12.10.1 Key Facts12.10.2 Business Description12.10.3 Products and Services12.10.4 Financial Overview12.10.5 SWOT Analysis12.10.6 Key Developments

13. Appendix13.1 About the Publisher13.2 Glossary of Terms

For more information about this report visit https://www.researchandmarkets.com/r/h9dmlb

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Excerpt from:
Outlook on the Data Annotation Tools Global Industry to 2027 - by Type, Annotation Type & End-user - GlobeNewswire

Rendering of the 180 Building, set for The Banks along Cincinnati's riverfront.(Photo: Provided)

Last year amid fighting between the city and county, county officials pledged an office tower would be built at 180 Walnut at The Banks on Cincinnati's riverfront.

There was no official announcement though. And then the coronavirus pandemic hit Ohio and there was little news related to the project -- other than more fighting between the county and city.

Officials on Tuesday unveiled renderings of the office tower at Tuesday's Board of Commissioners' regular work session.

The building, which will be developed by Lincoln Property Company, is a $92.5 million, 17-story office building, just east of the Freedom Center on the existing development podium next to Planet Fitness. At 361,285 square feet, the tower is twice the minimum build requirement on the site, according to a report on the project reviewed by The Enquirer.

Project employment is 1,400-1,600 employees, though no tenants will be revealed yet. County officials say there are pledged tenants for at least 50 percent of the space.

Renderings show a top floor lounge and outdoor roof terrace, along with an in-building gym.

Construction is set to begin in the spring or summer of 2021, with completion by winter 2021.

"It's very exciting to bring all those jobs down to the riverfront," said Board of Commissioners President Denise Driehaus.

Commissioners are expected to officially sign off on the construction at their meeting on Thursday. The deal then goes to the city, where the city manager is expected to sign off on the deal, said County Administrator Jeff Aluotto.

The deal does not need Cincinnati City Council approval, Aluotto said.

Rendering of the 180 Walnut Building lobby at The Banks.(Photo: Provided)

Read or Share this story: https://www.cincinnati.com/story/news/2020/08/25/the-banks-office-tower-renderings-unveiled/3428391001/

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The Banks: See new renderings of planned office tower at Cincinnati riverfront - The Cincinnati Enquirer

Nebraska banks saw their profit jump significantly in the second quarter compared with the first three months of the year, but earnings were down considerably compared with a year ago.

According to data released Tuesday by the Federal Deposit Insurance Corporation, the 161 banks headquartered in Nebraska earned a combined $246 million in the second quarter. That was up about 35% compared with the first quarter of the year, but it was a decline of more than 10% from the second quarter of 2019.

Though the number of banks reporting earnings gains during the quarter increased, the percentage reporting losses also was higher than a year ago. Performance on a number of financial metrics, including average yields, and return on assets and equity were lower in the second quarter than a year ago.

For the year so far, total profit for the Nebraska-based banks is $427 million, down $112 million from the first six months of 2019 and the lowest for that period since 2016.

Lincoln-based banks bucked the trend, however, with a strong increase in earnings. The nine banks with headquarters in the city earned a combined $46.6 million in the second quarter, up about 16% from the same period a year ago.

Nearly all banks in Nebraska fall into the FDIC's definition of a "Community Bank," and those banks did much better than large national banks.

Community banks as a whole saw their income grow 3.2% in the second quarter compared with a year ago, largely due to increased lending as part of the Paycheck Protection Program, the FDIC said in a news release.

As a whole, the nation's banks saw their profit fall 70% compared with a year ago.

FDIC Chairman Jelena McWilliams said in a news release that the main factors in the large drop in income were increased provisions for loan losses caused by lower business and consumer spending during the coronavirus pandemic as well as a decrease in net interest margins.

Photos: New construction in Lincoln

Workers construct a tower crane on the southeast corner of Ninth and O streets on March 30. The crane will be used to construct a 140-room Holiday Inn Express.

A new $23.9 million Veterans Affairs outpatient clinic being built on the VA campus south of 70th and O streets is the cornerstone of a larger redevelopment known as Victory Park.

A preliminary design shows plans for an apartment building proposed on the block west of Antelope Valley Parkway in the K and L streets corridor.

Construction is close to being finished on the new Mourning Hope Grief Center in February.

A nighttime rendering of the planned State of Nebraska office building at 17th and K streets.The four-story building would have two levels of parking and two floors of office space.

Work is going on to finish the interior of the Kinetic Sports Complex on West O Street so it can be open in March.

Campion Development has received approval for its student-oriented housing project at Ninth and M streets.

A Spectrum retail store will be the first tenant for a retail building under construction at the former Skate Zone site at 300 N. 48th St. Construction on a hotel at the site is likely to start in the next two to three months.

The Golds Building at 11th and O streets has been sold to a real estate investment company that plans a $15 million-$20 million redevelopment that will include a 110-room hotel.

Madonna Rehabilitation Hospitals plans to break ground this spring on a new $57 million, three-story patient wing on its Lincoln campus.

An architectural rendering shows the first phase of a renovation project at Nebraska Wesleyan University, which will replace seats in McDonald Theatre.

Workers put together the red, steel frame for Tommy's Express Car Wash north of 70th and O Streets in November. The site was formerly home to Texas T-Bone and Lone Star Steakhouse, among other restaurants.

A 300-foot mobile crane sits ready to erect a 280-foot tower crane at the site of the future Lied Place Residences in November.

Bryan Physician Network broke ground at 84th and Pioneers on a new building that will be home to Southeast Lincoln Family Medicine and a second Bryan Urgent Care location.

Nebraska's proposed new football facility ties in with the East Stadium Plaza and other buildings on the NU campus. "This is going to be an unbelievable move for athletics here at Nebraska and something thats going to change this place in a big way," said NU Associate Athletic Director for Football Matt Davison.

This rendering shows the new bar planned at Sun Valley Lanes.

Telegraph Lofts East rises in the foreground, followed by Telegraph Flats, while looking west toward downtown Lincoln in September.

Southeast Community College's Education Square downtown was renovated, with enhanced security.

An architectural rendering shows a six-story hotel proposed for 21st Street and Transformation Drive on Nebraska Innovation Campus.

There's a healthy use of granite and marble throughout the rooms and public spaces, including bathrooms at The Kindler Hotel.

Water hookups and electrical boxes line the new campground under construction at the Lancaster Event Center.

Construction on the Olsson building in the Haymarket in July.

This rendering shows what the Eastmont campus at 6315 O St. will look like after its planned $50 million expansion.

The new Wild Kingdom Theater is part of the expanded Lincoln Children's Zoo that opened in May.

The Stack at 1222 P St. includes27 market-rate apartments -- three two-bedroom units, 20 one-bedroom units and four studios, some with balcony access.

New renderings show a preliminary design for a hotel on the southeast corner of Ninth and O streets.

The new, 160-bed women's unit at the Community Corrections Center-Lincoln was built to be a therapeutic space. It features earth tones, natural lighting and wood throughout the building.

The Lincoln Parks Foundation is raising money to build a new Wilderness Nature Camp building at Pioneers Park Nature Center.

This rendering shows Great Plains Beef's planned new administration building at 84th Street and Havelock Avenue.

The city has chosen this proposal from Argent Group for a high-rise development at 14th and N streets. The rendering is looking southwest.

Part of the new parking garage at SouthPointe Pavilions is finally open, several months after originally planned.

White Lotus Group and HDR propose a mixed-use community hub for the site it calls Mural, which would combine affordable housing, retail, a wellness center and central library with murals throughout the block.

Link:
State bank profits down in 2nd quarter compared with last year - Norfolk Daily News

In this segment from BD+C's The Weekly show, Brad Hunter, Managing Director with RCLCO Real Estate Advisors, talks about the short- and long-term market forecast for several key commercial building sectors, including hospitality, industrial, office, retail, and rental housing.

The data and research presented in the video is from RCLCOs Mid-Year 2020 Sentiment Survey.

In this video, Hunter outlines the following sectors:

Retail construction sector- High street- Big box/power center- Outlet- Lifestyle- Class A regional malls- Class B regional mallsThe winner is...

Hospitalityconstruction sector- Home share/Airbnb/VRBO- Resort- Select service- Business/luxuryThe winner is...

Officeconstruction sector- Co-working- Life sciences- Creative office- Class A office- Class B officeThe winner is...

Rental housingconstruction sector- Co-living/micro units- Senior housing- Active adult rental- Manufactured housing- Class A, B, C apartmentsThe winner is...

Industrialconstruction sector- Self-storage- Data centers- Flex/light industrial/R&D- Cold storage- Last-mile distributionThe winner is...

Read more:
Video: 5 building sectors to watch amid COVID-19 - Building Design + Construction

Wilmington-based Thomas Construction Group has announced the addition of several new employees, according to a news release.

Kyle Brooks, Kramer Joyce and Jake Connor have joined the general contracting firm.

Brooks is a senior estimator with 10 years of experience estimating jobs ranging from $2 million to over $50 million in value, stated the release. He will play a vital role in the preconstruction department and has performed estimates on office buildings, warehouses, medical office buildings, mixed-use facilities and multi-family projects.

He earned a degree in construction management from Utah Valley University.

Joyce (right) is a superintendent with the firm, and will be responsible for assisting the on-site team with subcontractor management, meeting milestones, cost management, client communication and overall project safety.

He graduated from Pitt Community College with a degree in building construction technology.

Conner has joined Thomas Constructions accounting department as a project accountant, responsible for working with project managers and superintendents to maintain project costs.

Conner (left) earned an undergraduate and graduate degree from the University of North Carolina Wilmington.

While earning those degrees he interned with a Raleigh firm and pursued his CPA license.

Go here to read the rest:
New employees join Thomas Construction Group - Greater Wilmington Business Journal

Vacant land across from South Windsors Evergreen Walk shopping center will soon become home to a four-building complex with a mix of medical office and retail space.

Farmingtons Metro Realty Group is leading the project aiming to construct 50,400 square feet of medical office and 38,880 square feet of retail space on Buckland Road across the street from LA Fitness.

South Windsors planning and zoning commission recently granted key land-use approvals for the real estate developer, which acquired the vacant land for an undisclosed sum in Sept. 2019, and filed applications for the development months later.

Tenants have not yet been selected for the so-called Gateway Boulevard development, town records show. The mixed-use property is expected to join a new Chase Bank branch and Aldi grocery store as new additions to the corridor. Metro Realty is also leading those projects, officials say.

Its not clear when construction will begin on the development, or how much it will cost to build. Metro Realty declined multiple requests for comment.

Town Planner Michele R. Lipe said Metro Realty, one of Connecticuts largest medical office developers, still needs certain environmental approvals before it can break ground.

image | Contributed

Metro Realty Group plans to construct a four-building development across from South Windsors Evergreen Walk with a mix of medical office and retail space.

According to plans filed with the town, the complex will house two retail buildings near the well-traveled Buckland Road corridor. A combination of restaurants, with outdoor seating, and clothing retail tenants would be ideally suited for the buildings, officials say.

Another two medical-office buildings are to be constructed at the rear of the property. A total of 486 parking spaces and several electric car charging stations are planned for the development, plans show. There will be more than 600 parking spaces if the Aldi and Chase buildings are included.

A map of the development on Metro Realtys website shows the office buildings will comprise 25,700 square feet and 30,000 square feet. Forteen retail units in the other two buildings mostly range from 2,495 square feet to 4,050 square feet.

A second phase of development is currently being eyed on a small piece of land just north of the property also controlled by Metro Realty, town officials have said. Construction on the Chase branch has already begun, and work on the Aldi supermarket is expected to begin soon, town records show.

Metro Realty will also create a four-way intersection and crosswalks where Buckland Road, Cedar Avenue and the new Gateway Boulevard meet.

The office-retail development will compete with its neighbors across the street at The Promenade Shops at Evergreen Walk. The outdoor shopping center spans more than 374,979 square feet, and is home to many specialty retailers and restaurants including Anthropologie, Brooks Brothers, Banana Republic, Old Navy, Teds Montana Grill, Red Heat Tavern, Sakura Garden and Omaha Steaks, among other storefronts.

Headquartered at 6 Executive Dr. in Farmington, Metro Realty owns and operates more than 30 medical office, industrial and multifamily buildings around Connecticut, according to its website.

Last year, it sold a 29,000-square-foot medical office building on Middle Turnpike Road in Manchester for $11.3 million, and is looking to invest $2.4 million to construct a 16,200-square-foot, one-story medical building on Cromwell Avenue in Rocky Hill.

A Southington industrial building on Clark Street has sold for $840,000, brokers say.

New York-based 339 Clark LLC recently sold the 16,020-square-foot building to Marion-based Mantz Auto Sales and Repair Inc., according to broker Sentry Commercial, which was the sole broker in the deal.

Mantz Auto Sales and Repair is planning to relocate and expand at the facility by year-end, Sentry Commercial said.

Marlboroughs Two Brothers Auto LLC has acquired more than 2.3 acres in Bloomfield for $80,000, according to Sentry Commercial.

Alice Leshem was the previous owner of the property at 15 Highland Park Dr. Sentry Commercial said its not yet clear how the auto service business plans to use the property.

Joe Cooper is HBJs web editor and real estate writer. He pens The Real Deal column about commercial real estate.

More here:
Office, retail development coming to South Windsor's Evergreen Walk area - Hartford Business

At-home health testing service LetsGetChecked began 2020 growing at a fast clip and with plans to find a location for its next customer call center office. Then came Covid-19.

The New York City- and Dublin-based startup moved fast--it raised $71 million in the spring to develop an at-home Covid test and won FDA approval for it in May. As of July 2020, LetsGetChecked is seeing more than 800 percent year-over-year revenuegrowth. While the company has begun to rapidly expand its customer care team, the virushas kept staffremote. ButLetsGetChecked is continuing its search for office space, trying totake advantage of shifts in the commercial real estate market that have createdopportunities for businesses not available even six months ago.

In the second quarter of 2020, office vacancies nationwide hit 13 percent.Available subleases made up 2.7 percent of all available space on the market, reaching a level not seen since 2010,according to an analysis by commercial real estate firmCBRE. BetweenCovid's severe curtailing of economic activity and the increasing number of employeesworking from home, manycompanies are downsizingtheir offices.Uber, Square, and Dropbox have all listed portions of their San Francisco offices for subleasing in recent months. REI is looking to sell its never-been-used new 400,000 square-foot headquarters in Seattle.

Asking rent prices have yet to fall, which is typical in a down cycle as landlords try to hold out as long as possible, says CBRE chief economist Richard Barkham. At the same time, Barkham says, landlords are eager to fill space, so they're willing to offer a bevy of concessions to the right tenants, including rent-free periods, build-out expenses, and flexible lease terms.

"The more the balance of power has slipped between landlord and tenant, the greater the opportunity for a bargain," Barkhamsays.

That's precisely what LetsGetChecked is banking on. "There's so much uncertainty. We're hiring a large number of staff in Tampa, but we're not sure how big we'll get or how soon," says Ronan Ryan, the COO. "So we need the flexibility of, say, starting with 15,000 square feet with an option to add another 15,000 square feet in the same building in the future. Before [Covid], landlords weren't as ready or willing to give that."

Where to look

Not surprisingly, in the past quarter the biggest shifts in the commercial real estate market have occurred in tech hubs and metropolitan areas heavily dependent on mass transit. Austin saw the biggest decline in demand, with a net absorption rate of -2.3 percent, according to CBRE's Q2 office report. Net absorption measures the total new square footage leased minus the total square footage tenants no longer occupy, overa given time period. California, Texas, and New York markets have all seen the biggest drops, with previously hot metropolitan areas like San Francisco, Los Angeles, New York City, Boston, and Houston all ranking in the top 20 for negative net absorption (see the graphic below for more detail).

"I'd look for opportunities in downtown areas. Austin, San Francisco, L.A.--it's been very difficult to get space in those cities in the past 10 years," Barkham says. "This is a once-in-a-decade opportunity to acquire prime space in San Francisco."

Another way to consider opportunities is to look for areas with large inventories of new construction space about to hit the market. Currently, 134 million square feet of office space is under construction in the U.S., which makes up 2.5 percent of total office inventory, says David Smith, head of occupier research in the Americas at real estate firm Cushman & Wakefield. But certain markets that were in high demand pre-pandemic, like Seattle, Charlotte, and Nashville, have reached 5 percent. That's a lot of vacant space that's going to need to be filled.

Similarly, since the pandemic started, millions of square feet in subleased space have flooded the market, says Cushman&Wakefield executive managing director Nathan Piehl. From last December through June, available subleased space across the country is up 21 percent.

"For growth businesses still in the startup phase or even mature companies starting in new markets, sublease opportunities are economically advantageous," says Piehl, who specializes in tenant representation. "They require minimal capital, often they're furnished, and you're dealing with what's already been negotiated."

Prior to Covid, LetsGetChecked had zeroed in on Tampa as an ideal location for its next customer call center because of its labor force skills--the area boasts a large number of nurses. Post-Covid, Ryan says the increase in available subleaseshas been substantial. "Companies took these large amounts of office space thinking they'd grow into them, and now they're quite urgently putting them out to market as subleases," he says.

The company has not yet signed a lease, but Ryan says it aims to do so in the next 60 days. Needing to staff up remotely in Tampa before selecting a space has had its advantages. Whereas the company previously thought a downtown office would be fun and convenient for its staff, Ryan says they've learned through feedback from new employees that a more suburban location nearer to the city's nursing colleges would make more sense.

How to sweeten the deal

As LetsGetChecked considers its options, it's also trying to time a deal to take the fullest advantage of the moment. In addition to more flexible lease terms, Ryan says, the company is already seeing a willingness from landlords to offer rent-free periods and to cover some build-out costs.

"Landlords are going to try to hold face rates for as long as they can," Piehl says. "So you're going to see more rent abatement, tenant improvement allowance packages, moving allowances, furniture and equipment allowances--these are all things you can ask for now that you couldn't ask for six months ago." Plus, you can consider non-monetary concessions, such as the ability to revisit market rents in a year or two, he adds.

LetsGetChecked is going to need at least five to six months to do a build-out for its new Tampa space, which pushes its soonest move-in date to early 2021. The space will likely be configured with more than six feet of space between employees, larger meeting spaces, and plexiglass partitions for safety.

When the office is ready, the company is at a greater advantage than most as it plans for employees' reentry: Since LetsGetChecked makes Covid tests, the startup can do all of its testing in-house, and its on-staff clinical team can advise on how best to set up the space.

Q2 2020 negative net absorption by region

Below are the 20 U.S. markets that saw the biggest drop in demand in the second quarter of 2020 for office space as measured by their net absorption rate, or the total new square footage leased minus the total square footage tenants no longer occupy in a given time period.

Source: CBRE Research, Q2 2020

Read the rest here:
The Office Isn't Dead Yet. And Now's the Time to Get a Sweet Deal - Inc.

Free Rent, Tenant-Improvement Allowances On The Rise

The impact of these concessions is evident in the second quarter's 6.6 percent, year-over-year decline in net effective office rent in the 15 largest U.S. markets, according to CBRE. Net effective rent takes into account financial concessions (periods of time that a tenant does not have to pay rent, contributions toward the construction of a tenants space, etc.) that will be subtracted from a lease's contracted base rent. In comparison, base rent - before concessions - declined by only 1.1 percent in the second quarter from a year earlier.

Meanwhile, the average length of free-rent periods provided to induce a new lease signing or renewal in the second quarter amounted to 10 months. That's a 13.7 percent increase from the first-quarter average.

Another measure of concessions - tenant-improvement allowances - increased by 5.1 percent in the second quarter from the first to $75.57 per square foot. Landlords provide tenants these allowances to build out their new space to their individual needs. That percentage gain might have been greater if not for declines in construction pricing.

"Overall, U.S. office-leasing activity declined by roughly 43 percent in the second quarter from a year earlier, so it is to be expected that building owners would need to occasionally use some sweeteners to nail down a new lease in this tough environment," said Whitley Collins, CBRE Global President of Occupier Advisory & Transaction Services. "This means that office tenants can find some advantageous terms in many markets, at least until the U.S. economic recovery gains more momentum".

See more here:
COVID Forcing Office Landlords Nationwide to Grant More Concessions to Secure Tenants - World Property Journal

One of greater Portlands largest-scale apartment developments in recent memory will open the first of four buildings this fall.

PM Construction Co. of Saco is managing the large-scale construction of the Latitude at South Portland. The apartment complex will consist of four buildings each 68,500 square feet a total of 256 units, mainly one- or two-bedrooms. Each building includes a lounge, conference room and fitness center. There will also be two outdoor kitchen/grilling spaces on the property. Design is a collaboration with Archetype Architects of Portland. Northeast Firestopping Solutions was the firestop contractor at the Latitude.

Photo / Courtesy Firefly Aerial Solutions

An aerial view of the Latitude at South Portland apartment complex.

Elsewhere, PM Construction is managing construction of the Samuel L. Cohen Households at the Cedars, senior-housing housing in Portland, at 620-640 Ocean Ave. It also has some non-residential projects in the works:

Great Falls Construction of Gorham is finishing what it calls its 5 in 5 accomplishment, construction of five maintenance and public works facilities in five years. The most recent is Sacos Public Works Facility, which will be 30,000 square feet. It will be completed this fall.

The other four builds were in Windham, a vehicle maintenance facility of 27,000 square feet; MDOTs maintenance-and-operations facility at the International Marine Terminals Eimskip site; South Portlands municipal services facility, 82,000 square feet; and Westbrooks 33,500-square-foot facility for public services, school transportation and fleet maintenance.

Photo / Courtesy Great Falls Construction

Great Falls Construction built a maintenance-and-operations facility for MDOT in Portland.

Thats not all. Great Falls is also building fire stations for South Portland and Lewiston. In Casco, its doing a school addition and renovation. In Old Orchard Beach, its building an administrative facility for the wastewater treatment facility. Finally, its building the York Toll Plaza at mile 8.8 of the Maine Turnpike.

DeStefano & Associates Inc. and CWS Architects have completed the design and construction of the Main Beach Bathhouse, offering public facilities in Ogunquit. Its 2,500 square feet and includes 700 square feet dedicated for lifeguard use. DeStefano is based in Portsmouth, N.H. CWS is based in Scarborough.

Jewett Construction promoted Alain LeBlanc to director of field operations. He has 16 years of experience in construction. Hell oversee field ops and staff for all projects from Maine and New Hampshire offices. Jewett is based in Raymond, N.H., and has an office in Scarborough.

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Building Business: Clarks Pond apartment complex to open first units this fall - Mainebiz