Recent weeks have seen significant developments in corporate real estate news across New Zealand and internationally. This update highlights key trends, transactions, and announcements that impact the industry.

New Zealand corporate real estate news has been dominated by Microsoft's Work Trend Index findings, which revealed that 71% of NZ employees want remote working to continue, but 65% feel they need more in-person time. This highlights the ongoing debate about the future of workspaces and the need for flexibility.

Internationally, key transactions include Facebook's decision to allow employees to work remotely with manager approval, and Google's lease of space in Adelaide's $2B Lot Fourteen tech hub. These moves demonstrate the increasing trend towards flexible work arrangements and the demand for innovative workspaces.

Key Takeaways:

• Microsoft's Work Trend Index found that 71% of NZ employees want remote working to continue, but 65% feel they need more in-person time.
• Facebook has joined Twitter and Microsoft in allowing employees to work remotely with approval from their manager.
• Google has leased space in Adelaide's $2B Lot Fourteen tech hub, following Amazon's announcement of similar plans.
• DBS Group Holdings plans to surrender 7,000 sqm of floor space in the Marina Bay Financial Centre in Singapore.
• McLaren has sold its headquarters in Woking, England to New York investment firm Global Net Lease for £170M.
• Alsco has opened its new $10M premises in Richmond, Nelson, combining its Nelson and Motueka operations.
• Kmart has opened its 52nd K Hub store in Australia, targeting underperforming Target stores.
• BrainBox AI and Skyfii have partnered with AMP Capital's Macquarie Centre shopping centre in Sydney to measure real-time occupancy and drive energy efficiencies.
• Under Armour plans to redevelop its waterfront site in Baltimore as a global headquarters by 2025.
• A New York landlord is suing WeWork for US$37M after allegedly failing to pay their rent.

Statistics:

• 71% of NZ employees want remote working to continue (Microsoft Work Trend Index)
• 65% of NZ employees feel they need more in-person time (Microsoft Work Trend Index)
• 7,000 sqm of floor space to be surrendered by DBS Group Holdings in Marina Bay Financial Centre (Singapore)
• £170M sold by McLaren for its headquarters in Woking, England
• $10M invested in new premises by Alsco in Richmond, Nelson
• 52 K Hub stores opened by Kmart in Australia
• US$37M sued by New York landlord from WeWork
• 20-year term for sale and leaseback of McLaren's UK headquarters
• 1,700 employees to be relocated to Under Armour's new global headquarters in Baltimore by 2025

Sources:

• Microsoft Work Trend Index: "Work Trend Index for NZ Businesses"
• Facebook press release: "Facebook to allow employees to work remotely with manager approval"
• Google press release: "Google leases space in Adelaide's $2B Lot Fourteen tech hub"
• DBS Group Holdings press release: "DBS Group Holdings to surrender floor space in Marina Bay Financial Centre"
• McLaren press release: "McLaren sells headquarters in Woking, England for £170M"
• Alsco press release: "Alsco opens new $10M premises in Richmond, Nelson"
• Kmart press release: "Kmart opens 52nd K Hub store in Australia"
• BrainBox AI press release: "BrainBox AI and Skyfii partner with AMP Capital's Macquarie Centre in Sydney"
• Under Armour press release: "Under Armour plans to redevelop waterfront site in Baltimore as global headquarters"
• WeWork press release: "WeWork sued for US$37M by New York landlord"