10 Must Reads for the CRE Industry Today (May 14, 2015)

10 Must Reads for the CRE Industry Today (May 14, 2015)

 

  1. Macy's Ponders Its Biggest Sale Yet—Its Pricey Real EstateFollowing a stretch of sluggish growth, Macy’s may be feeling as if investors aren’t showing it enough love.” (The Street)
  2. Move Over, Whole Foods—Wegmans Is Coming to New York City “Wegmans Food Markets Inc., the supermarket chain that's ranked No. 1 by Consumer Reports, is opening its first location in New York City with a store in Brooklyn.” (Crain’s New York Business)
  3. Survey: More Millennials Renting, But Just As Many Want To Own “More millennials are renting now than were five years ago, but most of them still aspire to live in single-family, detached homes in the near future.” (Wall Street Journal)
  4. Bank of America Shifting Real Estate Employees to Outside Firms “The majority of Bank of America’s corporate real estate employees will be offered jobs at two outside firms, as part of a shift in how the bank manages its office space, the Charlotte bank said Wednesday.” (Charlotte Observer)
  5. 27-Property Texas Industrial Portfolio Changes Hands “A private fund advised by Dallas-based Crow Holdings Capital – Real Estate has purchased a 27-building, 2.35 million-square-foot industrial portfolio spread between the Dallas-Fort Worth and Houston areas for an undisclosed amount.” (Commercial Property Executive)
  6. Excel Trust Shareholders Ready to Vote on Blackstone MergerExcel Trust shareholders are preparing to vote on the proposed $2B merger with Blackstone. The board has recommended that stockholders vote in favor of the deal. A release from Excel last month reported that Blackstone will pay $15.85 per share for all of Excel’s outstanding shares of common stock. The investment will be made through Blackstone Property Partners, Blackstone’s Core+ real estate investment unit. The deal is contingent upon customary closing conditions and is expected to be close in the second half of this year.” (Bisnow)
  7. New NRDC Study Highlights Huge Potential for Energy Efficiency in Affordable Multifamily Housing The potential for cost-effective energy savings in the rental apartments where millions of low-income Americans live is substantial—as much as 32 percent for electricity and 24 percent for natural gas. That's the good news out today in a new analysis NRDC has released with our partners in the Energy Efficiency for All project. In fact, in the states we studied—Georgia, Illinois, Maryland, Michigan, Missouri, New York, Pennsylvania and Virginia—renters, landlords, utilities and regulators who take advantage of opportunities to save energy can create benefits worth $2.90 to $3.50 for every dollar invested. That's a giant bang for the buck.” (Blue Green Alliance)
  8. Chicago City Panel Approves Fulton-Randolph Landmark District “A city panel today signed off on a proposed landmark district in the Fulton-Randolph area of the West Loop, a proposal that has drawn strong opposition from many property owners in the neighborhood.” (Crain’s Chicago Business)
  9. B-Schools Add Real Estate Programs To Portfolios As Recruitment Builds “Georgetown’s McDonough School of Business in Washington became the latest top management school to build up its real estate portfolio — a new property centre will compete with those in the US including at Columbia, Wharton, Rutgers and Mays.” (Business Because)
  10. Why H&M North America Is Growing and Hiring “H&M North America President Daniel Kulle discusses the company's recruiting campaign and growth. He speaks on ‘Market Makers.’” (Bloomberg)
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