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

Sam Zell apologized for using a vulgarity to describe women during a real estate conference, Bloomberg reports. Grocery chains are facing pressure on all fronts, according to the Wall Street Journal. These are among today’s top must reads from around the commercial real estate industry.

  1. Grocery Chains Are Being Squeezed From All Sides “Pressure from rapidly changing consumer tastes, European discounters and Whole Foods will hurt smaller grocery chains most but the big players like Kroger will struggle to grow.” (Wall Street Journal, subscription required)
  2. Sam Zell Apologizes for Using Vulgarity in Describing Women “Billionaire real estate investor Sam Zell apologized for using a vulgarity to describe women during a discussion on gender diversity last week.” (Bloomberg)
  3. E-Commerce Might Help Solve the Mystery of Low Inflation “Unemployment is sinking and businesses are churning out more goods and services. Yet even with the economy standing on tippy toes, prices and wages are climbing a lot more slowly than anyone has expected. Now a growing body of research is putting the blame more pointedly on e-commerce.” (The New York Times)
  4. About Those Millennial Homebuyers: They’re Getting Younger and Younger “By now, the old saw that ‘millennials aren’t buying homes’ has been debunked quite a bit, including by this publication. (Also, see here: they’re not just buying, they’re buying in the suburbs.)” (MarketWatch)
  5. Will the Fed Set Off a Recession Alarm? “The chairman of the Federal Reserve, just four months into his term, could be in the uncomfortable situation this week of signaling that a recession is coming.” (Wall Street Journal, subscription required)
  6. 7 Benefits of a Federal Reserve Interest Rate Hike “Interest rates are going up. The Federal Reserve hiked rates once already this year in March. And at its meeting this Tuesday and Wednesday, the Fed is likely to raise the federal funds rate again. Many experts predict there will be a third rate hike before the end of the year.” (CNBC)
  7. Brookfield Buys 15 Cliff as Part of $1.9B Portfolio DealBrookfield Property Partners acquired a 30-story Financial District rental tower as part of a $1.9 billion, multi-state portfolio purchase from Carmel Partners, sources told The Real Deal.” (The Real Deal)
  8. On-Demand Workspace Provider Breather Raises $45M in Latest Funding RoundBreather, a provider of flexible and private workspace, has raised $45 million in additional financing from seven investors led by Menlo Ventures, Caisse de dépôt et placement du Québec (“la Caisse”), Ascendas-Singbridge and Temasek, Commercial Observer has learned.” (Commercial Observer)
  9. CON 2018 Special Report: Experts Unveil Industrial’s Big Disruptors “The sector is expanding at an unprecedented pace, deeply impacting supply chains and changing the investment landscape. What’s next for real estate’s most sought-after asset class?” (Commercial Property Executive)
  10. LVCVA to Buy Real Estate Off the North Strip for Almost $50M “Las Vegas’ tourism agency plans to buy and bulldoze a run-down retail center and a decades-old apartment complex off the north Strip.” (Las Vegas Review-Journal)
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