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10 Must Reads for the CRE Industry Today (October 13, 2017)

CBL has announced that its malls will be closed on Thanksgiving Day this year, according to Fortune. Because of a growing tech industry and strong job market, Denver has seen a boom in apartment building, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

  1. A Mile-High Building Boom in Denver “A booming tech industry and strong job market have fueled an apartment-building frenzy in the midsize, mile-high city of Denver. Neighborhoods once filled with rundown 19th-century warehouses, modest apartment complexes and vacant lots have transformed into landscapes of glass, brick and steel, as new structures continue to climb.” (Wall Street Journal, subscription required)
  2. 62 More Malls Won’t Be Open on Thanksgiving “Bargain hunters looking to blow off Thanksgiving for pre-Black Friday deals are going to have a harder time this year. CBL Properties has announced none of its 62 malls around the country will be open on Turkey Day 2017. The announcement follows similar decisions by many retailers.” (Fortune)
  3. Jared Kushner Hid One of His Companies on a Disclosure Form—Then Profited “Jared Kushner ‘enriched himself’ by not revealing his ownership of a real estate tech business that raised millions of dollars while he served in the government, said a member of the House Judiciary Committee, calling it part of a pattern of unethical behavior that he believes should cause the White House Senior Adviser to be stripped of his security clearance.” (Newsweek)
  4. The Big, New Thing in Building? Wood “One of the newest materials in mid-rise residential and office construction comes from an old source: trees. With the emergence of cross-laminated timber, or CLT, and nail-laminated timber (think plywood, but much thicker and stronger), architects are able to design buildings of 10-to-12 stories or more with timber cores and panels.” (Wall Street Journal, subscription required)
  5. Uniqlo’s Four Secrets for Building a Global Brand “When you work in marketing, it’s hard to fight the temptation to regurgitate promotional spiel in an interview. So it was refreshing to connect with John Jay, president of global creative at Tokyo-listed Fast Retailing, the parent company of Japanese casual wear retail chain, Uniqlo. In an interview with Fortune, Jay, who is essentially the company’s marketing guru, was candid and occasionally critical about Uniqlo’s performance, positioning and plans for world domination in the fast-fashion clothing and apparel industry.” (Fortune)
  6. The Best Cities for Amazon’s New HQ: Moody’s “In a new analysis published Thursday, Moody’s economists Mark Zandi and Adam Ozimek found that Austin, Texas and Philadelphia meets the Amazon’s desires for its new HQ best, with Atlanta, Pittsburgh, and Rochester, New York not far behind.” (Yahoo! Finance)
  7. Walmart and Jet.com Are Dividing America to Conquer It “Walmart brass feels its brand may not be the best when it comes to selling to urban customers. The discount giant will have its youngish Jet.com e-commerce unit focus on shoppers in New York, Chicago, Boston and other large cities, while the 55-year-old discounter’s online store will focus on the rest of the country, The Post has learned.” (New York Post)
  8. Third-Quarter Reports Bring Good News for NYC “One of the biggest takeaways of the third quarter is falling vacancies in Manhattan, as the vacancy rate dropped 20 basis points to 9 percent—the lowest rate since August 2016. After reaching a high of 9.5 percent in April this year, the vacancy rate steadily declined due to strong leasing activity, up 14.4 percent year-over-year. New leasing activity registered more than 8.1 million square feet in the third quarter, which brought the total as of the end of September to nearly 23.5 million square feet.” (Commercial Observer)
  9. Popup Shops Going Global “The effects of e-commerce on brick-and-mortar are on the rise and players from both sides of the line are increasingly turning to popup space. CPE talked to Patrick Burkert, co-founder & CMO of Go—Pop-up, about the niche’s relationship with classic real estate and about the future of the field.” (Commercial Property Executive)
  10. New Data Shows Just How Male-Dominated the CRE Industry Is “Women who want to become CEO of a real estate fund manager may have a better shot across the ocean. A mere 10 percent of senior executives at U.S. private real estate fund managers are female, according to a survey by research firm Preqin.” (The Real Deal)
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