NNN Lease Market News
The lights went out during the National Association
of Real Estate Investment Trusts annual REIT Week conference at the Hilton hotel in Midtown Manhattan. New York City police said that a transformer in the
basement of the hotel experienced problems Wednesday afternoon, leading to
partial power loss at the building. An electrician suffered a minor burn to his
finger, police said.
Although there wasn’t an evacuation, many guests and
workers crowded in the lobby and in front of the hotel where fire trucks and
police vehicles were parked. But these real-estate executives and experts
didn’t let a building problem disrupt their discussions about, well, how to
make buildings more profitable.
The afternoon presentations continued on the second
floor with auxiliary lighting. The outage even provided fodder for some of the
speakers. “This is a memorable moment,” joked Harvard economist Kenneth Rogoff
who was giving the keynote speech at the conference’s luncheon in the Grand
Ballroom when the outage occurred.
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