10 Must Reads for the CRE Industry Today (May 12, 2015)

10 Must Reads for the CRE Industry Today (May 12, 2015)

 

  1. Video: Obamas Announce Library Coming to South SideSo why are the president and first lady coming home to Chicago—sort of? You can look for the answer in a video released this morning that finally and officially confirms the worst-kept secret in town: The Barack Obama Presidential Library and Museum will be built on the South Side.” (Crain’s Chicago Business)
  2. McDonald’s Wants to Speed Up With Smaller Drive-Through Menu “McDonald’s Corp. unveiled plans to simplify its drive-through menu and revamp its midprice offerings as it seeks to turn around its struggling U.S. operations.” (Wall Street Journal)
  3. American Apparel's Net Loss Widens in First QuarterAmerican Apparel Inc.’s losses widened as its new chief executive implemented a plan to turn around the company.” (Los Angeles Times)
  4. Liberty Property Trust Completes Spec Office Tower in Houston A little over a year after breaking ground at Legacy at Fallbrook in Houston, Liberty Property Trust has wrapped up development of the office complex’s first tower, a 206,800-square-foot spec building at 10720 W. Sam Houston Parkway N.” (Commercial Property Executive)
  5. Main Street Portfolios Are Investing in Unicorns “With Uber now reportedly valued at $50 billion, there are justifiable worries that some private start-up technology companies worth $1 billion or more—known as unicorns—are in bubble territory.” (New York Times)
  6. Will Shake Shack Follow The GoPro Pattern? “Since its IPO date on January 30th, Shake Shack has skyrocketed higher. The company's IPO was priced at $21, but it opened for trading on the secondary market at $47. After pulling back slightly over its first two weeks of trading, the stock began a surge that left it up 273% three months after its IPO date. Pretty remarkable.” (Seeking Alpha)
  7. 29 Brands That Will Make a Ton of Money from MillennialsMillennials are maturing into parents, which is great news for children's brands, grocery stores, and furniture retailers. The generation's spending is set to peak in the coming years, according to Morgan Stanley, and companies from Mattel to McDonald's are clamoring for their attention.” (Business Insider)
  8. KKR Looking to Invest at Related’s Hudson Yards “After nearly two decades at Sheldon Solow’s 9 West 57th Street, private equity giant Kohlberg Kravis Roberts is looking to make a move to an office condominium at Hudson Yards, Commercial Observer has learned.” (Commercial Observer)
  9. First Crowdfunded Real Estate Project Paying Off “When Ben Miller decided to use crowdfunding as a means to rehabilitate a beaten-down building in one of Washington, D.C.'s transitional neighborhoods, he didn't really know crowdfunding was a thing. That's because it wasn't, at least not in real estate, yet. (CNBC)
  10. EPIC Commercial’s Amir Aframian Striking Out on His Own “Amir Aframian, an investment sales broker whose roster of deals includes the sale of a $130 million Soho development site to Michael Shvo, is striking out on his own with a new venture, Eframi Properties.” (The Real Deal)
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