10 Must Reads for the CRE Industry Today (April 7, 2015)

10 Must Reads for the CRE Industry Today (April 7, 2015)

 

  1. Beyond Shopping Malls, Africa Needs Real Estate Developments “African countries are being investigated by an increasingly diverse range of international real estate investors and developers, according to a report in East African BusinessWeek.” (AFK Insider)
  2. Marcus & Millichap to Double NYC Office Space with 260 Madison Lease “Investment sales brokerage Marcus & Millichap inked a 10-year deal for its new headquarters in New York City, at the Sapir Organization’s 260 Madison Avenue, The Real Deal has learned.” (The Real Deal)
  3. Cuba's Next Revolution: Real Estate “In Cuba, 220 miles south of Miami, real estate is considered hotter than any other commodity on the world market today. But most Americans and foreigners so far are mostly shut out of this potentially lucrative product.” (World Property Journal)
  4. Conference Centers Offer Companies Meeting Space Without Strings “Daniel Zumbrunnen needed space for training 70 employees at NBCUniversal in 2013. “I was looking for flexibility,” he said, “a large room to hold all the participants, but also rooms for smaller sessions.” (New York Times)
  5. Commercial Lending Recovery Continues in U.S. “Based on the latest research from CBRE, commercial real estate lending in the U.S. increased for the fifth consecutive year, as a strong fourth quarter capped expansion across lenders and property types.” (World Property Journal)
  6. REIT ETFs in Focus as Simon Withdraws Macerich Bid “Last week was eventful for the U.S. largest mall operator Simon Property. The company swiftly withdrew its hostile takeover bid for Macerich after the latter rejected its sweetened offer of $23.2 billion (including $6.4 billion in debt), citing it as too low. The combination would have created one of the largest shopping operators in the U.S., giving Simon Property supremacy over the nation’s best shopping malls.” (Zacks)
  7. Hudson’s Bay Profit Triples on Strong Saks Sales “Hudson’s Bay Co. on Tuesday posted fourth-quarter sales growth of more than 9%, helped in part by a big jump in digital sales and stronger same-store sales across its banners.” (Wall Street Journal)
  8. In Search of the Retail Location Unicorn “In 1999, advertising fundamentally changed. It was the first time advertisers stopped targeting their potential customers either by the location (website) or by their basic demographics (Women, married, household income >$100,000) and started targeting them by their behavior and intent.” (Huffington Post)
  9. Brookfield to Up 245 Park Avenue Loan to $1B “Brookfield Property Partners is looking to increase the proceeds of a 2010 Bank of China loan on its block-long office tower at 245 Park Avenue, Commercial Observer has learned. The loan amount will grow to $1 billion from $800 million. (Commercial Observer)
  10. In a Twist, Developer Envisions Offices—Not Apartments—for Williamsburg "Williamsburg already has become arguably the world’s hippest bedroom community. Now, a developer is betting that she can accelerate the Brooklyn neighborhood’s transformation into a high-rent office destination for technology and creative firms." (Wall Street Journal)
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