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

Anbang Insurance Group Co.’s founder sentenced to 18 years in prison, the Wall Street Journal reports. Amid soaring rents, co-living has become more attractive, according to The Associated Press. These are among today’s must reads from around the commercial real estate industry.

  1. As Rents Soar, Co-Living Becomes a More Appealing Option “Big city apartment-dwelling can be a financial and emotional drain, but the growing trend of co-living can soften the blow. Co-living comes in many varieties, from shared houses to luxurious mini-apartments.” (The Associated Press)
  2. Anbang Insurance Founder’s Stunning Fall Ends With 18-Year Prison TermDisgraced Chinese insurance magnate Wu Xiaohui was sentenced to 18 years in prison on Thursday after being convicted of fraud and abuse of power connected with the meteoric rise of the company he founded, Anbang Insurance Group Co.” (Wall Street Journal, subscription required)
  3. Young and Cash-Strapped? Here Are the Best Cities for You to Live “Cash-strapped millennials should steer clear of expensive cities like New York or San Francisco, but where should they go instead? To the Midwest, most likely. Five out of 10 of the top cities to be young and broke are in this region, according to a recent report from personal-finance site MagnifyMoney, which ranked 107 U.S. cities.” (MarketWatch)
  4. Sears CEO Eddie Lampert: We Are Still ‘Fighting Like Hell’Sears Holdings CEO Eddie Lampert on Wednesday said the company is ahead of Walmart and Target in that the company has ‘tried to incubate our own capabilities’ instead of making major acquisitions.” (CNBC)
  5. Marriott Wants to Beat Home-Sharing Upstarts at Their Own Game “Home-sharing websites like Airbnb Inc. and HomeAway Inc. are often seen as stealing customers from traditional lodging businesses. Now the world’s largest hotel company thinks it can disrupt the disruptors.” (Bloomberg)
  6. These Real Estate Segments Could Benefit from the Good Jobs Numbers “Whether those bumps are around the next curve is anybody’s guess, but for now, let’s examine how the low unemployment could affect commercial real estate, especially two major property types: office and industrial.” (Forbes)
  7. Testing Retail Waters on Bleecker Street “After HBO’s Sex and the City shot a brief scene outside Magnolia Bakery for a July 2000 episode, the bakery’s Bleecker Street retail corridor exploded in popularity. ‘If I could have 20 stores on Bleecker Street, I would,’ an executive with clothier Marc Jacobs told The New York Times the following year.” (Crain’s New York Business, subscription required)
  8. AllianceBernstein Isn’t Fully leaving NYC. And It Has Its Eye on the Far West Side. “AllianceBernstein, which is moving 1,000 jobs to Nashville, Tennessee, plans to keep about 250,000 square feet here in New York City, sources told The Real Deal. And the global money manager is considering relocating its Midtown headquarters to new construction on the Far West Side.” (The Real Deal)
  9. The Amazon Effect May Not Be As Big As You Think “Large markets might see very little impact on rents, according to CoStar Group estimates.” (Multifamily Executive)
  10. 3 Reasons CRE Teams Should Be Managing Deals in the Cloud “Commercial real estate has grown into a multi-trillion-dollar industry, largely without the benefit of purpose-built software or other tools designed to address its specific pain points. Today, however, its major players are steadily converting to a new way of doing business.” (GlobeSt.com)
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