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10 Must Reads for the CRE Industry Today (December 15, 2017)

Xceligent Inc. filed for chapter 7 liquidation after a year-long legal battle with CoStar Group Inc., the Wall Street Journal reports. According to a new report from Harvard’s Joint Center for Housing Studies, about half of renter households were considered cost-burdened last year, according to CNN Money. These are among today’s must reads from around the commercial real estate industry.

  1. Property Data Firm Xceligent Files for Chapter 7 Protection “The board of Xceligent Inc., one of the largest commercial real-estate data firms in the U.S., has filed for chapter 7 liquidation following a year-long legal battle with rival CoStar Group over alleged data theft, according to a statement by Xceligent’s parent company, the PLC.” (Wall Street Journal, subscription required)
  2. For Many, the Rent Is Still Too Damn High “Millions of Americans can’t afford their rent. Nearly half of all renter households — almost 21 million — were considered cost-burdened in 2016, according to a new report from Harvard’s Joint Center for Housing Studies.” (CNN Money)
  3. The Best and Worst Cities for Retirement “We have looked at the best and worst states for retirement, but what about specific cities?” (The New York Times)
  4. Amazon Prime Growth Is Slowing Down in the U.S., Says Morgan Stanley “Amazon Prime growth is plateauing in the US, showing first signs of a slowdown in its oldest market, Morgan Stanley wrote in a note published this week.” (CNBC)
  5. No Sequel to ‘Massacre at the Shopping Mall’ This Year “This year, Amazon.com didn’t steal retailers’ The Commerce Department reported November retail sales figures on Thursday, and they were very good.” (Wall Street Journal, subscription required)
  6. Internet Sellers, U.S. Retail Sales Get Big Boost in November from Black Friday “Led by online sellers, sales at U.S. retailers climbed 0.8% in November, the start of the holiday shopping season. The increase was twice as large as the MarketWatch forecast.” (MarketWatch)
  7. com CEO Aims to Sell Or Reorganize E-Commerce Biz So He Can Focus on Blockchain “Overstock.com CEO Patrick Byrne says the company is looking at three options for its home goods e-commerce business and says his ‘goal’ is to have a deal within 60 to 90 days. One of the options includes taking Overstock private, as Byrne focuses on applying blockchain technology to global property records, financial markets and even the retail business.” (CNBC)
  8. Why Steph Curry, Randi Zuckerberg, and Jessica Seinfeld Invested in This Generic Grocery Store “Who knew toothpaste and Dijon mustard could be so hot. Brandless, the buzzy online retailer of generic consumer products, has had a star-studded second close of its $35 million Series B round.” (Fortune)
  9. Budget Before Shopping for a Commercial Building “We all love to window shop, but in the commercial real estate world, it’s best to budget before you daydream about buying a commercial property. The No. 1 mistake that small business owners make when considering a commercial real estate deal is shopping for a building without a thorough understanding of the financial transaction that it takes to make it happen.” (Huffington Post)
  10. Manhattan Rents Rise, Thanks to a Luxury Market That’s Softer Than It Appears “The rental market in Manhattan has flat lined at an uneasy equilibrium, with rents largely unchanged year over year and concessions remaining at or near record heights.” (The Real Deal)
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