federal-reserve

10 Must Reads for the CRE Industry Today (September 8, 2017)

The Federal Reserve paved the way for the merger of two hunting and fishing chains, according to the New York Post. MarketWatch analyzes the cities that could fit Amazon’s needs for its second headquarters. These are among today’s must reads from around the commercial real estate industry.

  1. Federal Reserve Clears the Way for Bass Pro, Cabela’s Merger “The Fed, which some feared wouldn’t complete a review of a key piece of the $5 billion Bass Pro Shops acquisition of Cabela’s, surprised Wall Street on Thursday by approving a crucial credit card sale — clearing the way for the merger of the two hunting and fishing chains.” (New York Post)
  2. Opinion: Here are the Cities That Meet the Criteria for Amazon’s Second Headquarters “Amazon on Thursday announced it was looking for another city to host what it calls its second headquarters. Given the company’s stated criteria, here’s how Amazon could narrow the list — using the data the company so eagerly devours.” (MarketWatch)
  3. To Fight Blight, Cut Business Taxes? “In the United States, only New York City and Florida tax businesses on the rent they pay to their landlords. Now, business leaders in New York are pushing for a rollback in the Commercial Rent Tax as a way to fight the growing number of vacant storefronts in popular neighborhoods like Soho.” (WNYC)
  4. Economy Watch: Tech Set to Disrupt Retail, Industrial Employment “Some 80 percent of jobs in transportation, warehousing and logistics, and 63 percent of jobs in sales are susceptible to automation in the not-so-distant future, according to the latest Citi Global Perspectives & Solutions report.” (Commercial Property Executive)
  5. Possible Google Site Spurs a Property Grab in Sunnyvale, Calif. “Realty investors have grabbed a Sunnyvale office building that’s in the heart of an area that Google has targeted in an $800 million shopping spree for commercial real estate properties, brokers announced Wednesday.” (Government Technology)
  6. Fed’s Dudley Shows no Signs of Wavering from Support for December Interest-Rate Hike “New York Fed President William Dudley on Thursday signaled he still supports another interest-rate hike this year, putting him at odds with some of his colleagues at the central bank who have become more cautious in recent weeks because of a string of low inflation readings.” (MarketWatch)
  7. Toys ‘R’ Us Is Nearing Its End These 3 Signs Reveal “The ailing private equity-backed children's retailer retained Kirkland & Ellis LLP to help it restructure its nearly $400 million debt load due in 2018, CNBC reported on Wednesday, Sept. 6. One option Toys 'R' Us is said to be exploring is filing for Chapter 11 protection, according to the report.” (TheStreet)
  8. After Shock: How Brexit and Trump Have Impacted Commercial Real Estate “The beginning of Trump’s tenure saw some measured optimism with some big leases at the beginning of the year and chatter surrounding a massive stimulus in the form of a nationwide infrastructure project, but still, the real estate community has remained in a holding pattern. Immediate and concrete signs that the uncertainty and instability sparked by the two movements is beginning to wane seems to be nothing but veiled hope—for now.” (Commercial Observer)
  9. Omega Healthcare to Invest $190M in SNF Portfolio “Omega Healthcare Investors Inc. continues to reinforce its title as the largest owner of post-acute care facilities in the U.S.—a distinction the REIT attained through the purchase of Aviv REIT Inc. in 2015—with new acquisitions. The company recently enhanced its portfolio by 2,074 beds in Indiana, with the $190 million purchase of 15 skilled nursing facilities from two unidentified sellers.” (Commercial Property Executive)
  10. HNA Near Deal to Sell 1180 Sixth Avenue “Nightingale Properties is close to signing a hard contract to acquire the 384,000-square-foot Midtown office building at 1180 Sixth Avenue from a subsidiary of HNA Group and partner Murray Hill Properties for about $320 million, sources told The Real Deal.” (The Real Deal)
TAGS: NREI Wire
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