10 Must Reads for the CRE Industry Today (October 15, 2014)

10 Must Reads for the CRE Industry Today (October 15, 2014)

 

  1. Hilton Readies a Boutique Reboot “After a false start that set back its plans at least two years, Hilton Worldwide Holdings Inc. is launching a boutique, or ‘lifestyle,’ hotel chain that aims for a wider audience and lower room rates than some direct competitors. Canopy by Hilton will feature nascent technologies like the ability to use a mobile phone for check-in and as a room key. The hotels will emphasize neighborhood products and personalities, from locally crafted beers at the restaurant to paintings made by area artists hanging in the lobby.” (The Wall Street Journal)
  2. How Much Longer Can the Traditional Store Remain Shoppers' Fave? “Thanks to digital devices, mobile in particular, the path to purchase starts long before consumers step foot in-store. Still, brick-and-mortar isn’t dead, as evidenced by a June 2014 study by ORC International for Capgemini. Among digital shoppers worldwide, 72% said the traditional store experience was important when making a purchase—the highest percentage out of locations and channels studied. The internet landed second, at 67%.” (eMarketer.com)
  3. Macy’s Says Black Friday Will Actually Start on Thanksgiving Day at 6PM “Black Friday is starting early this holiday shopping season. Macy’s fired the first shots of the Thanksgiving shopping wars Tuesday, announcing that its doors will open at 6 p.m. on Thanksgiving Day, a Thursday. That’s two hours earlier than last year, NBC reports, when Macy’s opened at 8 p.m. Thursday. Back in 2012, it opened at midnight on Black Friday.” (Time)
  4. 4 Ways To Get Your Office Space Ready For 2020 “It seems like everybody’s talking about what the workplace will be like in 2020. What technologies will be popular in 2020 and so on. But what about now until 2020? How do we get from here to there and how do we design a workspace now to set us up for success in the future?” (Forbes)
  5. Retailers, beware hopping on outlet bandwagon: Pro “If all of your friends jumped off a bridge, would you? It's that sort of bandwagon mentality that has Andy Graiser, co-president of A&G Realty Partners, skeptical about retailers' rush toward outlet centers. ‘I'm a little concerned that a lot of these full-priced retailers are jumping into these outlets … too fast and taking too many locations,’ he said.” (CNBC)
  6. Crumbs' Grand Reopening Doesn't Address Two Of Its Biggest Problems “Crumbs Bake Shop kicked off its grand reopening Tuesday, three months after the company suddenly shut down all 48 of its stores because it was running out of money.  Aside from a couple new freezers and a new paint job, the first store to reopen – located on Broadway and 37th street in Manhattan — doesn't look much different than it did several months ago.” (Business Insider)
  7. German, NYC Investors Buy Fifth Ave. Retail Condo “Germany-based investment firm Deka Immobilien GmbH and New York City-based joint venture partner Ashkenazy Acquisition Corp. have acquired a retail condominium at 522 Fifth Avenue for $170 million. The Deka-Ashkenazy partnership acquired the property from Morgan Stanley. The deal marks Deka Immobilien GMbH’s first joint venture acquisition in the United States, according to Savills Studley.” (GlobeSt.com)
  8. Nordstrom Seeking Space for Second Manhattan Store “Nordstrom Inc., the retailer planning to open its first New York City store on Midtown’s West 57th Street, is seeking space in lower Manhattan for a second location, brokers from CBRE Group Inc. said. Executives of the Seattle-based department store chain have approached landlords of South Street Seaport and 1 Wall St. “and maybe one or two others,” Richard Hodos, an executive vice president at CBRE, said today at a briefing for reporters on New York’s commercial real estate market.” (Bloomberg)
  9. One Thing the City of San Diego Can’t Manufacture: More Space “San Diego doesn’t have a whole lot of room for the very sectors it says it’s determined to grow – namely manufacturing, which tends to offer middle-class jobs. A citywide economic development strategy approved in June zeroed in on one big roadblock: ‘San Diego is at a disadvantage in the manufacturing and innovation sectors in particular because the city is running out of raw land.’ San Diego County doesn’t have much land that can be quickly developed for industrial users. It’s boxed in by the Pacific Ocean, the Mexican border, Camp Pendleton and its unique topography.” (PublicCEO.com)
  10. Home sweet shipping container: Real estate's hot new play “Every day, 21,000 of them sail into U.S. ports, carrying everything from tea to T-shirts, but just a fraction ever go back. Shipping containers. Strong, durable and eminently recyclable. An estimated 700,000 are sitting near the nation's waterfronts, unused, wasting shipyard space and littering landfills. It all presents an incredible opportunity for developers of environmentally friendly, sustainable real estate.” (CNBC)
TAGS: Hotel Retail
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