10 Must Reads for the CRE Industry Today (September 3, 2015)

10 Must Reads for the CRE Industry Today (September 3, 2015)

 

  1. Lotte Group Closes Record $805M Purchase of New York Palace Hotel “South Korean-based luxury hotel operator Lotte Group has closed on the purchase of the 909-key New York Palace Hotel in Midtown for $805 million from Northwood Investors.” (Commercial Observer)
  2. Brett White’s War on CBRE “It didn’t take Brett White long. As soon as his non-compete clause expired last March, CBRE’s former CEO publicly took on his former employer about as aggressively as one could imagine.” (The Real Deal)
  3. Second-Tier Real Estate Has Its DaySlowly but surely, the second tier of commercial space is coming into its own as Southwest Florida’s economy recovers.” (News-Press)
  4. Top Tech Cities in U.S. Commanding Hefty Office Rent PremiumsIf you are a businesses looking for office space in the nation's hottest tech markets should expect to pay a premium - and a hefty one in many of the top tech cities across the U.S.” (World Property Journal)
  5. Beyond the Topless, Times Square’s Very Success Breeds Hassles “Times Square’s topless women may be the least of its difficulties. After New York tabloids made an issue of panhandling by the so-called desnudas and aggressive costumed cartoon characters, Mayor Bill de Blasio appointed a task force to propose laws to subdue the garish agora for tourists, street performers, vendors and vagrants.” (Bloomberg)
  6. The Federal Reserve Says Rent Is Flat in Manhattan “Rejoice! According to Federal Reserve, rent is flat in Manhattan.” (Business Insider)
  7. A Closer Look: The SoulCycle IPO “I first became aware of the SoulCycle phenomenon about a year ago thanks to a friend who constantly raved about it. I was intrigued with her enthusiasm and extreme fascination for the classes and wanted to learn more. When she told me she pays over $30 for one single class, yet, didn't mind one bit I became even more intrigued. When the company announced the IPO, the investor in me had to take a closer look.” (Seeking Alpha)
  8. Dramatic Rise in Crime Casts a Shadow on Downtown L.A.'s Gentrification “As Lauren Mishkind was walking along 7th Street this summer in downtown Los Angeles, a man pulled a handgun and pointed it at another person standing behind her. Terrified, she hid behind a car while the assailant tackled the victim.” (Los Angeles Times)
  9. Key Food Looks to Buy A&P Workers Out of Bankruptcy “Small grocer Key Food is shopping for a better deal from Big Labor. The Brooklyn-based chain, a cooperative of 180 stores that are individually owned, has been negotiating with United Food and Commercial Workers International officials over a new contract for workers at 17 A&P stores it wants to buy out of bankruptcy.” (New York Post)
  10. Former Top CBRE Broker Joins Smaller Rival to Expand Its Business Beyond Hotel Sales “An Atlanta-based brokerage is aiming to break into the rarefied ranks of firms that sell the city's largest office and residential buildings.” (Crain’s New York Business)
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