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10 Must Reads for the CRE Industry Today (April 5, 2019)

U.S. job growth means economy is still doing fine, reports the Wall Street Journal. Sears plans on opening home goods stores, according to CNBC. These are among today’s must reads from around the commercial real estate industry.

  1. U.S. Jobs Grew by 196,000 in March as Hiring Bounces Back “Hiring in the U.S. sprang back in March and the unemployment rate remained at a historically low level, underscoring that the labor market remains a source of strength for the economy.” (Wall Street Journal, subscription required)
  2. Wynn Resorts CEO Is Pressed on What He Knew About Former Boss “Matt Maddox, chief executive of Wynn Resorts, faced tough questioning from Massachusetts gambling regulators during hearings this week about his handling of sexual misconduct allegations against company founder Steve Wynn.” (Wall Street Journal, subscription required)
  3. Landlords Get a $173 Million Deal From City as Their Lawyer Raises Funds for de Blasio “Two years ago, the administration of Mayor Bill de Blasio decided to buy 17 buildings, which it planned to use for affordable housing, from a pair of notorious landlords with an extensive record of violations.” (The New York Times)
  4. Big Upgrades to Former Time-Life Building Lure New Tenants “Big-bucks capital upgrades mean new life for the tower formerly known as Time + Life — Rockefeller Group’s 1271 Sixth Ave.” (New York Post)
  5. Hermès Opens A Younger, Hipper Store In NYC's Meatpacking District “Hermès has “crossed the line,” the 182-year-old French luxury house declares with its new store, set to open Friday in New York’s hip Meatpacking District.” (Forbes)
  6. Hudson Yards: A City Within a City “Land where there was none before. A careful ratio of places to live, work, eat and recline on lawns. A sense of being in New York, but not quite of it.” (New York Times)
  7. WTO Defies Trump With Historic Ruling on National Security “The World Trade Organization published its first ruling on national security Friday, setting a legal precedent that will lead to a likely clash with the U.S. over tariffs.” (Bloomberg)
  8. Sears, After Bankruptcy, Is Opening New Stores for Home Goods “Sears is opening stores again.” (CNBC)
  9. Energy Savings Do Offset Upgrade Costs “A new development, however, shows a big and immediate savings following installation” (GlobeSt.com)
  10. WeWork Moves Into Downtown Phoenix “WeWork is rapidly expanding in the Phoenix market—and it has officially signed its first lease in Downtown Phoenix.” (GlobeSt.com)
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