Skip navigation
walmart

10 Must Reads for the CRE Industry Today (January 12, 2018)

Walmart abruptly decided to close 63 Sam’s Club stores around the country, according to Business Insider. Local and state governments will not disclose the tax breaks or financial incentives they have offered to lure Amazon to set up shop in their cities, reports The Associated Press. These are among today’s must reads from around the commercial real estate industry.

  1. Walmart Is Abruptly Closing 63 Sam’s Club Stores and Laying off Thousands of Workers “Walmart is closing 63 Sam’s Club stores across the US, the company told Business Insider on Thursday afternoon, after reports of abrupt store closings began to emerge.” (Business Insider)
  2. Local Governments Won’t Say What They’re Offering Amazon “State and local governments have been more than happy to play up the amenities they think make their locations the best choice for Amazon’s second headquarters. But many of them will not disclose the tax breaks or other financial incentives they are offering the online giant.” (The Associated Press)
  3. Downtown L.A.’s Development Boom Heads West with a Big New Housing and Retail Complex “A large-scale residential and hotel complex will be proposed for the former headquarters campus of the Metropolitan Water District on Sunset Boulevard as Los Angeles’ development boom expands into blocks just northwest of downtown.” (Los Angeles Times)
  4. Economists Think the U.S. Economy Is At or Near Full Employment “Full employment is finally here, or at least not far away. That’s according to the vast majority of economists surveyed this month by The Wall Street Journal. Asked if the U.S. economy has reached full employment, 42% said yes and an additional 48% said no, but that it’s close.” (Wall Street Journal, subscription required)
  5. Office Vacancies Tick Up Nationally, Drop in Many Local Markets “Q4’s slight vacancy rise stems from ‘an increase of supply and a slight loosening in the tightness of the market as we have closed in on the previous cyclical low,’ says Spencer Levy at CBRE.” (com)
  6. The REIT Way: Focus on Fundamentals and Ignore the Scoreboard “The big news in 2017 for REIT investors is how shares in the high-dividend paying stocks underperformed compared to the broad stock market.” (Forbes)
  7. Amazon Could Detonate a Gentrification ‘Prosperity Bomb’ in the City It Chooses for Its Second Headquarters “More than 200 cities, states, and regions across North America are vying to become the home of Amazon's second headquarters. The company said in late last yearthat it plans to invest $5 billion in the construction of a new campus, dubbed HQ2, which it hopes will eventually hold 50,000 Amazon employees.” (Business Insider)
  8. Investors Shift from Values to Income Stream “The road ahead could lead to robust economic growth or to a slowdown, each with broad implications for commercial real estate values. In either case, investors should not look to asset appreciation as a given when calibrating their near-term strategies, CBRE’s Chris Ludeman tells GlobeSt.com.” (com)
  9. Chicago Real Estate Investor Raises $500 Million Fund “Chicago real estate investor Seth Singerman has raised $500 million for this third and largest investment fund. Now comes the hard part: finding deals in a cresting market.” (Crain’s Chicago Business)
  10. La Central Developers Secure $335 Million Financing Deal “Developers of the nearly 1,000-unit La Central project in the South Bronx announced Thursday they have secured $335 million in financing for two buildings in the affordable-housing project—despite federal tax reform punching a $20 million hole in the budget.” (Crain’s New York Business)
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish