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10 Must Reads for the CRE Industry Today (November 17, 2017)

Walmart’s online sales are soaring, according to USA Today. CNBC reports that a new study found that homeownership does not help you make money. These are among today’s top must reads from around the commercial real estate industry.

  1. Walmart’s Online Sales Soar “Unseating Amazon as the biggest player in e-commerce is a tall --maybe even impossible task. But Walmart is giving the online titan a run for the money.” (USA Today)
  2. Homeownership Doesn’t Build Wealth, Study Finds “Owning a home may help you save money, but it won't help you make money. Households are better off taking control of their finances than relying on fluctuating home values. That is the finding of a new study conducted by Florida Atlantic University, Florida International University and the University of Wyoming.” (CNBC)
  3. Airbnb Is Buying a Startup That Offered Similar Home Rental Services for Disabled Travelers “Airbnb said on Thursday it acquired London startup Accomable to expand home-renting opportunities for people with disabilities, the latest expansion as Airbnb grows its global travel business.” (Fortune)
  4. S. Housing Starts Rose in October “U.S. housing starts rose last month to the highest level in a year, a sign home builders are getting back on track after hurricane activity weighed on residential construction in September.” (Wall Street Journal, subscription required)
  5. Barnes & Noble Shares Surge as Activist Urges Deal to take It PrivateBarnes & Noble shares jumped as much as 16 percent Thursday afternoon after The Wall Street Journal reported an activist investor has proposed a deal to take the bookseller private. The stock was halted briefly on the news, and again while awaiting Barnes & Noble's response.” (CNBC)
  6. Stephen Ross on Amazon HQ2: “I don’t think New York has a chance” “After Amazon announced its plans for a second headquarters, Related Companies approached the online retail giant with a simple pitch: “Wherever you go, we want to be your developer,” the company’s CEO Jeff Blau recalled at NYU Schack Institute’s annual conference on capital markets in real estate Thursday.” (The Real Deal)
  7. SL Green Strikes $305M Deal to Sell 600 Lex to Insurance Company “SL Green Realty Corp. has entered into contract to sell the 36-story office tower at 600 Lexington Avenue for $305 million, Commercial Observer has learned.” (Commercial Observer)
  8. The Beginner’s Guide To CRE Tech: What Does PropTech Really Mean? 7 Industry Experts Explain “It is difficult to pinpoint when the term PropTech, which stands for property technology, rose to prominence in U.S. commercial real estate. With the increased use of the term, the challenge is determining what it actually means. Is it synonymous with CRE Tech, which refers to all tech solutions in the entire CRE landscape? Or does PropTech refer to technology that supports real properties — both residential and commercial?” (BisNow)
  9. City Plans to Use Swanky Midtown Hotel as Homeless Shelter “Mayor de Blasio is pledging to open 90 new shelters across the city over five years. NY1 Has learned that one of them will be in a stately Manhattan building that until now has been a luxury hotel.” (NY1)
  10. Bon-Ton to Close at Least 40 Stores “The Bon-Ton Stores is slashing its store base as its losses continue to mount. The struggling department store retailer plans to close at least 40 stores through 2018. (Chain Store Age)
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