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10 Must Reads for the CRE Industry Today (Feb. 28, 2020)

Sales of rent-regulated buildings fall in New York City, reports the Wall Street Journal. Tech companies are leaving San Francisco for the East Coast, according to Forbes. These are among today’s must reads from around the commercial real estate industry.

  1. Sales of New York City Rent-Regulated Buildings Plummet After New Law “A new rent law that gives New York City tenants greater protection has triggered a multibillion-dollar plunge in the sale of regulated-rental apartment buildings, according to data collected by a group representing landlords.” (Wall Street Journal, subscription required)
  2. The iBuyer Trend Has The Biggest Potential For Growth In These 10 Cities “This coming year is going to see iBuyer options expanding into dozens of new cities and many of these types of transactions will be even easier because of a new law passed by the FDIC that increases the threshold for requiring an appraisal from $250,000 to $400,000.” (Forbes)
  3. Faced With A Bay Area Labor Shortage, Tech Companies Increasingly Leasing On The East Coast “The San Francisco Bay Area may be considered the largest tech hub in the U.S. right now, but the number of tech companies signing large leases in the region declined by more than one third in 2019, according to a recent CBRE report.” (Forbes)
  4. American Dream Megamall in New Jersey Sets March Opening Date for First Round of Retail Shops “Nearly two decades in the making, the American Dream megamall in New Jersey is preparing to open its first round of retail shops to customers.” (CNBC)
  5. Rise in Property Insurance Make Commercial Real Estate Investors Think Twice “A rise in insurance costs is making real estate investors think twice about where and when to buy.” (Mortgage Professional America)
  6. Marijuana, Hemp Businesses Bolster Commercial Real Estate “Commercial real estate markets across the United States are feeling a positive influence from the cannabis industry as property is bought, sold and leased for medical and recreational marijuana, a new report shows.” (United Press International)
  7. Which States Are Doing the Most Sustainable Building? “Colorado came out on top in 2019, up from sixth place in 2018, with 102 projects totaling 23,962,344 square feet of LEED-certified construction, or 4.76 square feet per Colorado resident. Next were Illinois and New York.” (The New York Times)
  8. 2020 Sales Volumes Will Continue to Grow in Los Angeles “Los Angeles had the highest sales volume in the US last year, and it will continue to grow this year.” (GlobeSt.com)
  9. Top 5 Markets for Office Transactions in 2019 “The markets on this list accounted for more than 40 percent of the country’s sales volume for office assets last year.” (Commercial Property Executive)
  10. A Fitness Tenant Leased the Most Retail Space in Miami in Late 2019. The Mall Isn’t Open Yet “Gyms are occupying a larger footprint in the local retail market.” (Miami Herald)
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