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10 Must Reads for the CRE Industry Today (August 10, 2018)

J.C. Penney is opening 500 baby stores, according to The Associated Press. There are new scams targeting those who want to rent apartments or single-family homes, CNBC reports. These are among today’s must reads from around the commercial real estate industry.

  1. J.C. Penney to Open 500 Baby Shops Amid Babies R Us Demise “J.C. Penney is expanding the baby products it sells at stores beyond clothing as the department store joins the many other chains trying to claim some of the Babies R Us sales up for grabs.” (The Associated Press)
  2. Ready to Rent a Home? Beware of These New Scams “Renting an apartment or a single-family home may seem easier than buying one, especially as so much of the process is now streamlined online. Easier, however, isn’t always safer.” (CNBC)
  3. Growth Seen Hitting 3% in 2018, But Risks to Outlook Mount After This Year “Economists are revising up their projections for growth in U.S. output this year, but disputes with U.S. trading partners, a fading boost from fiscal stimulus and rising short-term interest rates leave them thinking strong growth won’t last much longer than that.” (Wall Street Journal, subscription required)
  4. Another Retailer Lands a Deal with Amazon: This Time, It’s Party City “Another retailer is tying itself up with Amazon. This time, it's Party City. In tandem with reporting second-quarter earnings, the retailer on Thursday said it would be rolling out a pilot program on Amazon ahead of the Halloween season this year.” (CNBC)
  5. Will Automation and AI Endanger Your Real Estate Job? “It’s important to first understand what the technological advances are, and then examine how they can be used in commercial real estate.” (Forbes)
  6. Investor Confidence in PropTech Sector Hits All-Time High: MetaProp “Global confidence in the real estate technology sector swelled through the first six months of 2018, according to a new report from proptech advisory and advocacy organization MetaProp, which noted “explosive” investment growth in the sector from an increasingly diverse array of investors.” (Commercial Observer)
  7. The Long View: Hudson Yards, Quayside and the Return of the Company Town “Firms like Related and WeWork are morphing into neighborhood managers. Is that a good thing?” (The Real Deal)
  8. Manhattan Rents Fall in July “Manhattan rents fell in July while concessions grew, according to a market report released today.” (Crain’s New York Business)
  9. More International Flights Help Boston’s Real Estate Market Soar “Boston’s campaign to land more international flights is paying off in the local real estate market.” (BisNow)
  10. Former Broker Alleging Sexual Harassment Had a Restraining Order Against Her "A former Marcus & Millichap agent who is suing an executive from the brokerage for sexual harassment had a restraining order filed against her by the same man she accused, The Real Deal has learned." (The Real Deal)
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