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10 Must Reads for the CRE Industry Today (August 14, 2019)

Commercial real estate prices in global capitals take a dip amid U.S. and China trade tensions, according to the Wall Street Journal. Restaurants are moving away from renting space for a dining room because of delivery demand, reports The New York Times. These are among today's must reads from around the commercial real estate industry.

  1. Commercial Real-Estate Prices Stumble in Global Capitals “Commercial-property prices in major cities around the world tumbled in the second quarter, amid signs of slower global growth and heightened trade tension between China and the U.S.” (Wall Street Journal, subscription required)
  2. The Rise of the Virtual Restaurant “No longer must restaurateurs rent space for a dining room. All they need is a kitchen — or even just part of one. Then they can hang a shingle inside a meal-delivery app and market their food to the app’s customers, without the hassle and expense of hiring waiters or paying for furniture and tablecloths. Diners who order from the apps may have no idea that the restaurant doesn’t physically exist.” (The New York Times)
  3. Macy’s Is Doing All the Right Things—Except Being In a Mall, Analyst Says “Despite Macy’s abysmal earnings report Wednesday, one analyst said there’s not much more the department store could be doing to improve.” (CNBC)
  4. 2020: Three Trends In Protech That Can Propel CRE Forward “If 2019 is any indicator, 2020 promises to be an interesting year for proptech in commercial real estate.” (Forbes)
  5. The World is Your Office “We’re seeing every asset class transform into coworking, and everything from churches to schools to gyms to malls dedicating space for work. For some, it’s a part of their core business model; for others, it’s a gateway space that attracts foot traffic, anchors a community, and provides an excuse to say “community” a lot.” (Commercial Observer)
  6. The Strength Of Workforce Housing As An Investment Class “The current supply-demand dynamics have made workforce housing properties in strategic growth markets near city centers some of the most compelling investment prospects available today.” (Forbes)
  7. Tracking the "Done Deals" In Opportunity Zones “To get a better sense of where the market is, Homan tracks so-called “done deals” in Opportunity Zones. Specifically, instead of tracking the funds that are trying to raise a targeted amount of money, she tracks the projects after they receive the Opportunity Zone equity investment. In other words, if a developer has a project and is raising money, she won’t track that project until it receives the OZ investment.” (GlobeSt.com)
  8. How is Houston Attracting Millennials to Invest in Commercial Real Estate? “Over the past few years, Houston has shown a strong economic growth. It cannot be denied, however, that the commercial real estate industry in Houston does not contribute that much to the state’s economic growth. This is the main reason why the state is pursuing different businesses, particularly run by millennials, to invest in the commercial real estate industry.” (NuWire Investor)
  9. A Guide to Choosing the Right Location for an Industrial Site “The process of choosing a location for a warehouse, fulfillment center or manufacturing site has gotten significantly more complex in recent years amid the rapid rise of e-commerce and strong competition for labor.” (GlobeSt.com)
  10. Meet OpenSpace, The Construction Tech Startup That Just Raised $14M From WeWork and Others “OpenSpace, an imaging and AI-driven platform providing 360-degree visibility for construction sites, has raised $14 million in a Series A round led by Lux Capital.” (Crunchbase News)
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