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10 Must Reads for the CRE Industry Today (September 25, 2017)

Mayors across the country are pulling out all the stops to woo Amazon to build their second headquarters in their cities, according to The New York Times. Department stores in malls still have a strong influence over how a property can be developed, reports Bloomberg. These are among today’s must reads for the commercial real estate industry.

  1. Nothing Is Too Strange for Cities Wooing Amazon to Build There “Amazon, on the hunt for a place to build a second headquarters where it plans to invest $5 billion and create 50,000 jobs, has begun an enormous competition among cities across North America. With a loose set of requirements like proximity to an airport and walkability, the e-commerce behemoth has set officials on a journey to sell their towns, with the aim of getting in on what some are calling one of the largest economic development deals of the century.” (The New York Times)
  2. Department Stores Cling to Power over Landlords on Mall Upgrades “The owners of the Sunrise Mall in Northern California have a vision for updating the 45-year-old center. Tenants there are making it difficult to get it done.” (Bloomberg)
  3. Here Are the Retailers That Have Filed for Bankruptcy Protection in 2017 “In 2016, retailers that filed for bankruptcy include Aeropostale, Pacific Sunwear, Sports Authority and American Apparel.” (CNBC)
  4. S. Economic Expansion Is Unevenly Spread, Study Says “The U.S. economic expansion is lifting a handful of vibrant communities to new heights but also leaving broad tracts of the country stagnant or sinking, according to a new report.” (The Wall Street Journal)
  5. NY Lawmaker: LLCs Should Be Required to Disclose Owners “A New York state senator is proposing new disclosure rules for limited liability companies to give the public more information about who is influencing state politics and cashing in on big real estate deals.” (The Associated Press)
  6. Dudley Sees Fed Rate Hikes; Inflation Weakness ‘Fading’ “The Federal Reserve is on track to gradually raise interest rates given the recent inflation weakness is fading and the U.S. economy’s fundamentals are sound, an influential Fed policymaker said on Monday, reinforcing the central bank’s confident tone.” (Reuters)
  7. Activist Funds Seek Ouster of Tuesday Morning CEO “Two investment funds are calling for new leadership at discounted housewares retailer Tuesday Morning Corp., the latest in a series of activist campaigns targeting chief executives.” (The Wall Street Journal)
  8. Teen Apparel Retailer Emerges from Chapter 11 “Rue21 is looking towards the future. The retailer announced Friday that it has completed its financial restructuring and has emerged from bankruptcy.” (Chain Store Age)
  9. CRE Tech Startup Falkon Sets Sights High With New Off-Market Listings Platform “Having launched last year as a database of on-market commercial property listings across New York City, Falkon officially announced its new off-market listings platform this week—a tool that the platform’s founder, Ashkán Zandieh, hopes will bring greater efficiency and transparency to the city’s property investment sales market.” (Commercial Observer)
  10. Small Apartment Buildings Make a Big Difference to Affordable Housing “Though they may not be large, small apartment buildings are a big piece of the affordable housing puzzle. But they can also face some big challenges.” (Multifamily Executive)
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