- Yellen says Fed May Have Been Wrong on Employment and Inflation, Which Would Mean Easier Policy Ahead “The Federal Reserve may have overstated the strength of the labor market and the rate of inflation, leading to monetary policy ahead that will be easier than previously thought, Fed Chair Janet Yellen said Tuesday.” (CNBC)
- E-Commerce Mania Spreads to Warehouse Market “E-commerce is setting off a scramble for industrial real estate near urban centers, giving landlords of once-unglamorous properties a chance to push up rents to record levels.” (The Wall Street Journal, subscription required).
- Disney Reimagines Its Stores to Be More Like a Vacation “Quietly, like a mouse on tiptoe, Disney overhauled its retail store at the Northridge Fashion Center mall in late July. Out went the twisty Pixie Path aisles, the ornate displays, the green walls and the color-changing fiberglass trees. In came a movie-theater-size screen, a simplified floor plan, white walls and more items for fashion-conscious adults. What was Disney up to?” (The New York Times)
- People Don’t Understand the Magnitude of Post-Harvey and Irma Rebuilding, Says Aecom CEO “Hurricanes Harvey and Irma caused billions of dollars in damage to homes, businesses and infrastructure, yet people are not fully understanding the magnitude of the issue right now, said Mike Burke, CEO of engineering company Aecom.” (CNBC)
- Home Builder Lures Millennials with Offer to Help Pay Their Student Loans “Student loan debt has been an obstacle for many potential home buyers. Now Lennar Corp. is trying to do something about it.” (The Wall Street Journal, subscription required)
- Toys ‘R’ Us Secures $3.1 Billion Financing “In an important vote of confidence in its brand from key lenders, Toys “R” Us closed on crucial financing just in time for the holiday crunch.” (Chain Store Age)
- Office Services Provider Managed by Q Acquires French Task Platform Hivy “Office management startup Managed by Q has continued its expansion by acquiring Hivy, a Paris-based tech platform that specializes in the same realm of workplace logistics.” (Commercial Observer)
- The Story of Fan Pier, a Catalyst for Boston’s Waterfront “In the last decade, Boston’s Seaport District transformed into a modern neighborhood, with glass towers and futuristic cultural and event venues. The new developments, some delivered at the height of the real estate crash, are the result of a collaboration between local and state authorities, private investors and developers, residents and cultural organizations.” (Commercial Property Executive)
- Kohl’s CEO to Retire in May; Successor Named “Kevin Mansell, chairman, CEO and president of Kohl's, will retire in May 2018 at the end of the company’s annual shareholders meeting. The 35-year Kohl's veteran has served as its chief executive for nearly 10 years.” (Chain Store Age)
- Will Trump’s Travel Ban on Venezuelans Affect Miami’s Real Estate Market? “President Trump extended his controversial travel ban to include Venezuela, causing momentary panic among Venezuelan investors of Miami real estate.” (The Real Deal)
10 Must Reads for the CRE Industry Today (September 27, 2017)
Federal Reserve chair Janet Yellen said the central bank may have overstated the strength of the labor market and the rate of inflation, according to CNBC. The rise of e-commerce is leading industrial real estate landlords to push up rents, reports The Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.