10 Must Reads for the CRE Industry Today (August 25, 2015)

10 Must Reads for the CRE Industry Today (August 25, 2015)

 

  1. Firm Pays $200 Million for Majority Stake in St. John's Terminal, Eyes Big Redevelopment “A sprawling building, ripe for development and seen as a savior to the decaying Pier 40, now has a single controlling owner for the first time in years.” (Crain’s New York Business)
  2. In Demand: Top Cities for Multi-Family Rentals “The demand for rental housing is increasing nationwide, with more and more people turning to renting in America’s largest cities. A combination of factors – including limited inventory levels, declining vacancy rates and continued job growth – have pushed rental prices up by 6.5 percent over the past year, to reach a record high of $1,155 in July 2015.” (Commercial Property Executive)
  3. Belk Agrees to Be Bought by Sycamore for About $2.7 BillionBelk Inc., the 127-year-old department-store chain concentrated in the southern U.S., agreed to be acquired by Sycamore Partners for about $2.7 billion in cash.” (Bloomberg)
  4. Barclays: Fed Unlikely to Hike Before March 2016 “The Federal Reserve's first rate hike will likely occur in March of next year amid financial volatility and uncertainty surrounding growth in emerging markets, according to Barclays.” (CNBC)
  5. Northeast Ohio's Retail Gluttony: Old Malls Rot While New Shopping Centers Sprawl “Even as vacancy climbs at Northeast Ohio shopping centers, ambitious developers are culling new land in far-out suburbs to build more shopping space.” (Cleveland.com)
  6. Chinese-Americans Spent $105.1 Billion on U.S. Real Estate in 2014  “According to a new report by Juwai.com, Chinese-Americans outspent offshore (mainland Chinese) buyers of US real estate by nearly 5 to 1 in 2014. Chinese-Americans invested $105.5 billion in US real estate, compared to the $22 billion invested by Mainland Chinese.” (World Property Journal)
  7. The Sidewalk Shed, a Ubiquitous New York Eyesore, Gets a Makeover “Zaha Hadid has designed some of the most remarkable buildings of this generation. Whether a striking factory for BMW, daring Olympic venues or museums in Rome, Glasgow and Cincinnati, the work of the Iraqi-born, London-based Ms. Hadid has brought her global renown and a Pritzker Prize, considered architecture’s Nobel Prize.” (New York Times)
  8. 3 Retail Stocks That Are Great Bargains Now “What goes down often comes back up, at least when it comes to the right kinds of companies and stocks.” (The Street)
  9. Green Bonds Grow Up “‘Impact’ investors, those interested in environmental, social or governance issues, are finding increasingly fertile ground in green bonds.” (Wealth Management)
  10. C&W Makes History in Tampa Industrial Market “High Street Realty has acquired the Tampa Distribution Center, a 955,000-square-foot industrial campus in Tampa, from MetLife Real Estate Investors.” (Commercial Property Executive)
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