When Mothers and Children Shape the Workplace

• Adulting at work: New spaces challenge traditional office norms by supporting mothers, children, and the realities of parenting.

• Corner pocket: National Retail Properties says its convenience store portfolio anchored by major operators has delivered stable income and occupancy.

• Greenlight Hutto: An Austin suburb is betting faster permitting can attract jobs without tax breaks.

• Multifamily outlook 2026: Demand will be steady in 2026, but margins are thinner and execution matters more than ever. Sign up for the webinar

Perspectives

When Mothers and Children Shape the Workplace

Workplace design is undergoing a broader shift as employers and designers reconsider who offices are actually built for. As hybrid work evolves, spaces are increasingly expected to support flexibility, inclusion, and the realities of daily life rather than asking people to separate personal needs from professional ones.

A proposed headquarters for the All Moms nonprofit in Richardson, Texas offers a compelling case study. Designed by Perkins&Will, the project treats mothers and children as primary users, blending coworking, wellness, play, and community programming into a single, cohesive environment shaped by direct community input.

While not intended as a corporate model, the project highlights design principles that translate across workplaces. By collapsing the divide between caregiving and productivity and prioritizing belonging, the All Moms space points toward a more human-centered future for office design.

Overheard

National Retail Properties “Very Happy” with its Convenience Store Portfolio

National Retail Properties, the retail-focused REIT known for its triple net lease portfolio spread across the United States, continues to point to its concentration in convenience store properties as a source of stability and resilience. The company owns thousands of single-tenant retail assets leased long-term to tenants including major convenience operators as well as automotive, restaurant and essential service brands. Approximately 17 percent of annual base rent comes from convenience store tenants, reflecting a business mix that tends to trade on location, daily customer visits and necessity rather than discretionary spending.

That portfolio strategy, with nearly 3,700 properties leased to about 400 tenants across 37 different lines of trade, has supported occupancy rates near historical highs and a predictable income stream even while broader retail sectors face pressure from e-commerce competition and changing consumer patterns. Triple net leases, where tenants pay most property expenses and the owner collects rent with minimal operating obligations, have helped the REIT maintain occupancy above 97 percent, a figure that appeals to income-oriented investors seeking consistency.

This emphasis on convenience stores and other essential retail tenants underscores a recurring theme in retail net lease strategy. Assets that serve everyday needs tend to show steady foot traffic and resilience against economic cycles, which can translate into lower volatility in cash flow and support dividend sustainability. That matters at a time when broader retail segments such as malls and department store anchored centers are still recalibrating after years of structural change. For REITs and capital allocators focused on long-term leases, a portfolio tilted toward convenience and other necessity-based tenants remains a compelling play, blending steady occupancy with the simplicity and predictability of net lease arrangements.

Austin Suburb Cuts Commercial Permit Reviews to 10 Days

Slate Property Group and supportive housing nonprofit Breaking Ground have acquired the Stewart Hotel at 371 Seventh Ave. near Penn Station, with plans to convert the former Midtown hotel into 575 permanently affordable apartments. Rents for low-income units are expected to range from roughly $1,385 to $1,731 per month. The partners paid $255 million for the property, and total development costs are estimated at $500 million. Slate will lead development and construction, while Breaking Ground will operate the building once complete.

The hotel, which closed in 2022 and later operated as a migrant shelter, is slated to begin construction in late 2027, with a roughly two-year buildout. The conversion will be supported by New York State’s Housing Our Neighbors With Dignity Act and the city’s NYC 15/15 Supportive Housing Initiative. Wells Fargo and JPMorgan Chase provided acquisition financing. The project replaces a previously proposed 625-unit market-oriented conversion and instead locks the building into long-term affordability under nonprofit stewardship.

For the commercial real estate industry, the deal underscores how distressed hotels and obsolete hospitality assets in high-density urban cores are increasingly being repositioned through public-private partnerships rather than pure market-rate redevelopment. In a city facing record-low residential vacancy and persistent affordability pressure, this project highlights the growing role of mission-driven capital, government subsidies, and nonprofit operators in absorbing transitional assets. For owners, lenders, and developers, it signals that in certain markets, the most viable exit or reuse strategy may hinge less on rent maximization and more on aligning with housing policy, public funding, and long-term operational stability.

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Propmodo Daily is written and edited by Franco Faraudo with contributions from readers like you and the Propmodo team.

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