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10 Must Reads for the CRE Industry Today (April 22, 2019)

The Wall Street Journal looks at how grocers adapt to e-commerce era. Former bank branches are being converted to other uses, reports the New York Times. These are among today’s must reads from around the commercial real estate industry.

  1. America’s Biggest Supermarket Company Struggles With Online Grocery Upheaval “Nobody can say Rodney McMullen doesn’t know the grocery business. He started as a bagger at Kroger Co. when he was in college, rising through the ranks to become chief financial officer, then chief executive officer, of America’s biggest supermarket chain.” (The Wall Street Journal)
  2. Historic Bank Buildings Get a Second Act “The fate of the soaring, palatial and utterly impractical Dime Savings Bank in Downtown Brooklyn was inevitable.” (The New York Times, subscription required)
  3. How Luxury Developers Use a Loophole to Build Soaring Towers for the Ultrarich in N.Y. “Some of the tallest residential buildings in the world soar above Central Park, including 432 Park Avenue, which rises 1,400 feet and features an array of penthouses and apartments for the ultrarich.” (The New York Times, subscription required)
  4. Bed Bath & Beyond Rises as Retailer Names Independent Chairman “Bed Bath & Beyond Inc. yielded to some demands of a trio of activist investors, naming an independent chairman and replacing five independent directors as the home goods company struggles to turn around sales.” (Bloomberg)
  5. Prologis: Rents Up, Occupancy Outperformed Expectations “Industrial REIT powerhouse Prologis reported that tenant turnover was lower than expected even while they pushed up rents, underscoring the ongoing strength of the industrial property sector.” (Commercial Observer)
  6. NYC Poised to Enact Aggressive Climate Bill “America’s largest city is rolling out one of the most aggressive policies to curb greenhouse gas emissions ever attempted by a major municipality.” (Commercial Property Executive)
  7. Home Sales Fall 4.9% in Slow Start to Spring Buying Season  “Sales of existing U.S. homes fell in March after a huge gain the previous month, held back partly by a sharp slowdown among the most expensive properties.” (CNBC)
  8. Manhattan’s Luxury Market Saw Uptick in Contracts, Dollar Volume Last Week: Olshan “Manhattan’s luxury market saw 19 contracts signed last week for a total of about $139 million, according to the latest report from Olshan Realty.” (The Real Deal)
  9. Will a Property Sales Price Record Raise the Rest of Dallas' Skyline Values? “When German investors paid a record $504 per square foot for the 2000 McKinney office tower Uptown in 2016, Dallas' real estate market was on almost every investor's radar.” (Dallas News)
  10. It Pays To Be Green: Homes Near Electric-Vehicle Charging Stations Fetch Top Dollar “Close proximity to electric-vehicle charging stations is becoming the new hardwood flooring when it comes to commanding a higher sale price.” (Forbes)
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