NREI WIRE

10 Must Reads for the CRE Industry Today (April 8, 2019)

The downturn in bricks-and-mortar retail shows how challenging it has become for Manhattan’s retail landlords to make a profit, according to the Wall Street Journal. Bloomberg looks at the state of the U.S.-China trade deal. These are among today’s must reads from around the commercial real estate industry.

  1. Big Retail Property Buyer Feels the Sting of Manhattan Slump “Joseph Sitt was one of the most aggressive investors during Manhattan’s retail real-estate investment boom. Now, he’s starting to feel the pinch of New York’s retail downturn.” (Wall Street Journal, subscription required)
  2. A China-U.S. Trade Deal Could Be a Mere Cease-Fire “China and the U.S. last week signaled substantial progress in their trade negotiations, as President Xi Jinping welcomed a ‘new consensus.’” (Bloomberg)
  3. SIGNA, RFR Close on Chrysler Building Purchase “SIGNA Group and RFR Holding have closed on their acquisition of the Chrysler Building from the government of Abu Dhabi and Tishman Speyer.” (Commercial Property Executive)
  4. Cheap Rent, More Space Lure Some New York Companies Across the Hudson “When Gwen Schantz needed space to grow seedlings and store supplies for her Brooklyn-based rooftop farming business, she looked across the Hudson River rather than deeper into Brooklyn.” (The Wall Street Journal, subscription required)
  5. Fed Proposes Rules That Would Lower Liquidity Requirement for Some Foreign Banks “The Federal Reserve on Monday is set to consider proposed rules that would lower liquidity requirements for some foreign banks.” (MarketWatch)
  6. WashREIT Identifies Another Affordability Gap “Last week’s $461 million acquisition of a value-add multifamily portfolio by WashREIT highlighted a trend that the REIT has noticed in the Washington, DC area: a growing affordability gap for housing not just at the lower end of the income spectrum but also among aging Millennials that are pulling down middle class salaries.” (GlobeSt.com)
  7. Downtown Leasing Ends Best Quarter in Eight Years “Lower Manhattan ended 2018 with its best quarter of new leasing activity since Q2 2011, resulting in over 2.12 million square feet of new activity, according to a recent report by the Downtown Alliance. (Commercial Observer)
  8. What Distribution Centers Can Learn From Office Buildings “With the rapid growth of e-commerce, logistic facilities are the star players in the game of fulfillment.” (GlobeSt.com)
  9. Kat Lau of Industrious on Chasing the Coworking Trend “Kat Lau, the senior director of real estate for Industrious, has watched the coworking market evolve and move toward a more hospitality-related model.” (Commercial Observer)
  10. Logistics and Industrial Real Estate Have a lot to Thank E-Commerce for “The topic of the discussion focused mainly on the new brand of technology currently sweeping the globe--e-commerce and its many benefits, particularly in reviving and improving technologies in the real estate industry.” (Business Times)
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