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Commercial Real Estate News for Friday, December 2

Before you check out for Friday, check out these three articles on commercial real estate.

City’s Hospitals Spend Billions Amid Construction Surge

Hospitals in New York City are expected to spend $8 billion on renovations between now and 2018. The construction is expected to add around 2 million square feet of hospital space.

Home-Flipping Startup Opendoor Said to Be Valued at $1 Billion

Opendoor Labs Inc, a Silicon Valley tech start-up, is estimated to be worth $1 billion after the latest round of funding. The young company will use the cash to expand operations into 10 new cities next year.

Why Wells Fargo Should Close More Branches

Wells Fargo could boost earning by up to 25% if it shuttered enough of its door to closely match Bank of America’s branch numbers. Wells Fargo has nearly 1,500 more branches than BofA.