Weekly Radar #292: Painting Small Offices Green, $57M Added to Settlement Sum, REW Strikes First

Weekly Radar #292: Painting Small Offices Green, $57M Added to Settlement Sum, REW Strikes First
Image generator: DALL-E Prompt: $57.5 million in settlement, showing a legal contract and houses in the background

What's covered in this week's GEM Crystal Weekly Radar:

  • Logan dives into the increasing demand for sustainable office space and how inventory appears to be falling short.
  • Compass "agreed to settle in its commission lawsuits" for $57.5 million.
  • Drew covers the first buy side compensation announcement by a website or IDX Vendor.

Geek Estate Blog Recap:

Meet the Real Estate Tech Founder: Shannon Bloemker from Energy Raven
In our latest real estate tech entrepreneur interview, we’re speaking with Shannon Bloemker from Energy Raven. Without further ado... Who are you and what do you do? Shannon Bloemker, Founder & CEO of Energy Raven. What problem does your product/service solve? Homebuying is a stressful…
Get 20% off CREtech London May 8th and 9th
[Editor’s Note: Geek Estate Offers are special offers from members of the GEM Diamond] Taking place May 8th and 9th, CREtech London brings together leaders in the commercial, residential, PropTech, and climate tech industries for two days of speaking engagements, networking opportunities, and industry insights…
reapi’s 2024 Tech in Real Estate Hackathon Registration is Open
reapi, an integrated API system providing property data and machine learning to proptech companies, is hosting its 2024 Tech in Real Estate Hackathon. Participants will have the opportunity to showcase their work to a panel of industry leaders, network with peers and real estate experts,…
An Integrated Platform for Better Lead Data
[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: Curb Hero] A digital Open House sign-in app and listing marketing tool for real estate agents and mortgage professionals, Curb Hero’s products capture client information through sign-ins through…
2024 REACH Commercial Applications Now Open
REACH operates a variety of accelerator programs around the globe, created and operated by Second Century Ventures and backed by NAR. The program offers education, mentorship and exposure for technology companies working to scale their businesses across the U.S. residential and commercial real estate markets…

Transmission Recap:

Last week, Drew covered how innovation in lumber is underappreciated. Before that, Drew delved into the long and short of Zillbnb - what Zillow's announcement means for the future of short and long-term rentals.


By: Logan Nagel

Description: Exterior shot of a small, seedy office building. Gorgeous large offices are in the background

Recent data from JLL shows that global demand for sustainable office space, driven by occupier sustainability commitments, is on track to vastly outpace inventory. From 2024 to 2030, JLL estimates 15.7 million square feet of demand against 4.6 million square feet of supply, a shortfall of around 70 percent. 

JLL further identifies three main occupier demands: lower energy intensity per square foot, electrified buildings, and clean energy sources. While companies like Lunar Energy and BrainBox AI are beginning to carve out niches in these categories, it remains to be seen what playbooks or “metas” may emerge to actually develop or renovate 11.1 million square feet of sustainable office space. This is particularly true for smaller spaces facing economic obsoletion, where the cost of upgrading HVAC components, windows, and energy systems are not worth the squeeze. These properties, if unable to secure incentive funding for capital intensive physical improvements, will be forced to rely more heavily on software, sensors, AI, and hardware deployments with low installation costs. Their performance will still trail buildings undergoing renovations, though, another blow to a property class already on the ropes.