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10 Must Reads for the CRE Industry Today (December 3, 2019)

Commercial real estate values in Chicago drop, reports the Wall Street Journal. Strong health in the older population dampens demand for seniors housing, according to Forbes. These are among today's must reads from around the commercial real estate industry.

  1. Chicago Property Prices Stagnate, Trail Even Crisis-Stricken Hong Kong “When it comes to real estate, the Second City sits at the bottom of the table. The value of Chicago property has been mixed in recent years, while values in New York, Boston and San Francisco have been steadily rising thanks to strong economies and job growth.” (Wall Street Journal, subscription required)
  2. Real-Estate Firms Rolling Out New Funds for Mom-and-Pop Investors “The large real-estate firm is introducing a new product in hopes of luring mom and pop investors. This week, it is starting to market a $50 million fund geared to U.S. individuals, offering a minimum investment of $2,500. (Wall Street Journal, subscription required)
  3. Senior Living Demand: Strong Demographics Weakened By Strong Health “Senior living community investors are very concerned with the age at which people move out of their regular houses and apartments into group living facilities. If the average move-in age increases, then demand will be much slower than previously expected.” (Forbes)
  4. Navy Yard Sheds ‘Cocoon’ After Thousands of Visits, As Art Becomes Commercial Development Catalyst “Building 694 at the Navy Yard once served as a storehouse for the vast South Philadelphia military base. But last month, the long-vacant building became a gallery for a single work of outsized art.” (Philadelphia Inquirer)
  5. New Projects Are Rejuvenating Sixth Avenue’s Fortunes “The fortunes of Sixth Avenue in Midtown are soaring higher than the Thanksgiving Day balloons that wafted over the street last week.” (New York Post)
  6. Amazon Isn't Killing Brick-and-Mortar Retail. It's Showing Other Retailers How to Do It “But perhaps nowhere is the evidence of Amazon not killing brick-and-mortar stronger than in a quick evaluation of Amazon itself. While the company still generates the lion's share of its retail business online, it's increasingly focusing its efforts in brick-and-mortar.” (Inc)
  7. Nonresidential Construction Spending Falls in October, Says ABC “National nonresidential construction spending fell 0.7% in October but is up 1.4% compared to the same time last year, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.” (AZ Big Media)
  8. More Warehouses on the Way in South Fort Worth “A Denver developer has broken ground on a three-building industrial park in south Fort Worth. Black Creek Group is building the 569,000-square-foot project near Interstate 35W. The warehouses will range in size from 88,000 to 250,000 square feet and will open in the third quarter of 2020.” (Dallas Morning News)
  9. Black Friday, Weekend Shopper Traffic Better Than Last Year in Many U.S. Malls “Roughly two thirds of the properties reported shopper foot traffic on Friday and Saturday that either slightly or significantly exceeded that from the same weekend last year. Big traffic drivers included movie theaters, restaurants, and events and experiences such as Santa visits, tree-lighting ceremonies, and holiday markets featuring local merchants for Small Business Saturday.” (World Property Journal)
  10. Vision 2020: Unfolding Trends That Will Dominate the Next Year “Trends that began to emerge in 2019 will start to make their presence known in the following 12 months.” (GlobeSt.com)
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