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10 Must Reads for the CRE Industry Today (Feb. 21, 2020)

A developer in South Bronx plans to include a freight-rail connection in the project to address congestion associated with the e-commerce boom, according to the Wall Street Journal. Miami hotels experienced record-breaking daily rates and revenue per available room, reports Forbes. These are today's must reads from around the commercial real estate industry.

  1. Bronx Warehouse’s Answer to Truck Congestion: Its Own Rail Link “The developer of a four-story warehouse in the South Bronx plans to include a freight-rail connection in the project to address trucking costs and traffic congestion associated with the e-commerce boom.” (Wall Street Journal, subscription required)
  2. Miami Area Hotels Scored Big During Super Bowl LIV “Despite having 10,000 more hotel rooms since the last time Miami-Dade County hosted a Super Bowl a decade ago, Miami area hoteliers experienced record breaking daily rates and revenue available per room, according to STR, an analytics firm that tracks hotel industry performance.” (Forbes)
  3. Greater Seattle’s Booming Office Submarkets Are Among the Spendiest in the Nation “If you are working in one of greater Seattle’s many booming office submarkets, chances are office property in that neighborhood is among the most expensive in the country. Washington is home to the third-highest number of pricey office submarkets in the nation, according to a recent study ranking.” (Seattle Business Mag)
  4. Trendwatch 2020: The Renaissance Of Brick-And-Mortar Locations As Ad Space “Commercial real estate developers, architects, and investors are exploring new ways to reinvigorate historic, underused, or shuttered spaces that once served traditional brick-and-mortar purposes but struggle to remain robust in a digital economy.” (Forbes)
  5. CrowdStreet Marketplace Hits $1 Billion in CRE Investments “CrowdStreet, Inc. has announced that it has crossed the $1 billion milestone in total online investments by individual investors on its CrowdStreet Marketplace platform.” (Mortgage Professional America)
  6. Scottsdale Airpark Evolves into Urban ’18-hour’ City “The area has become an “18-Hour” city with a growing mix of apartments, modern retail, hotel amenities, and traditional commercial space.” (AZ Big Media)
  7. Flood Insurance, Commercial Real Estate and Climate Change “Climate change is forcing the commercial real estate industry to re-think the effectiveness of flood insurance that developers, lenders and investors have relied on for decades.” (Lexology)
  8. A Guide to Repurposing Retail Centers “We hear a lot about the demise of shopping malls – once the staple of the American suburban psyche – but by thinking creatively and applying the fundamentals of commercial real estate development, malls can be redeveloped to serve, once again, as community hubs.” (GlobeSt.com)
  9. REITs Still Attractive to Investors, but Opportunities in the Midwest Limited “As client portfolio manager for Des Moines, Iowa-based Principal Global Investors, Todd Kellenberger understands what good investments REITs can be. And in 2020? He expects a good year for REITs once again.” (RE Journals)
  10. Investors Note Steady Supply, High Demand Within Detroit’s Office Market “While there are plenty of news stories touting Detroit’s comeback, it’s the actual 2019 year-end numbers backing up the claims with solid momentum in the office and lending sectors.” (RE Business Online)
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