CAPRE’s Commercial Real Estate Weekly Round-Up & Summary: Life Sciences Sector Thriving in COVID-19 Era, CoStar to Acquire Ten-X for $190 Million, WeWork, Prologis & More

JLL: Life Sciences Sector Thriving in COVID-19 Era: A new report by CRE mainstay JLL reports that the life sciences sector is faring better than other major industries, despite the challenges presented by the COVID-19 pandemic, according to early reports. However, JLL also cautioned that the biotech industry hasn’t fully escaped the consequences of the coronavirus crisis, since the overwhelming focus enveloping both hospitals and the FDA to cure, treat, or prevent the novel Coronavirus will likely cause delays in the lifeblood of the sector -- clinical trials. Meanwhile, capital has continued to flow into the life sciences sector thanks to half a dozen biotech-focused venture capital firms, including Deerfield Management. CoStar to acquire Ten-X for $190 Million USD: CoStar Group will acquire Ten-X for $190 Million USD in cash, reports REW Online. Ten-X, launched in 2009, provides a digital transaction platform for effectively liquidating the large volume of distressed commercial real estate assets that came on the market during the Great Recession, and has executed close to $24 Billion USD in sales. Ten-X originally focused on distressed assets, but non-distressed sellers and brokerage firms have increasingly come to rely on Ten-X to facilitate faster execution to transact properties. CoStar Group operates the most heavily trafficked online marketplace for commercial properties and land for lease and sale in North America and Europe with 10 million monthly visitors in April 2020 to its websites. Tax disaster claims offer pandemic relief for…