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10 Must Reads for the CRE Industry Today (Feb. 6, 2020)

Macy’s releases new details on the planned office tower atop its Manhattan flagship location, reports the Wall Street Journal. Cities across the nation embrace electric power as a cleaner alternative to natural gas, leaving some developers playing catch-up, according to The New York Times. These are today’s must reads from around the commercial real estate industry.

  1. Macy’s Planning Larger-Than-Expected Office Tower Atop Flagship Store “Macy’s Inc. offered new details about plans to build an office tower atop its flagship Manhattan store, which likely would include public improvements to the Herald Square neighborhood and more office space than previously reported.” (Wall Street Journal, subscription required)
  2. UCLA Economists Forecast Strong Commercial Real Estate Market for California “Although the economy is predicted to slow in 2020, developers’ views on most California commercial real estate are optimistic, and they reflect an eagerness to get in on the ground floor of the next commercial real estate expansionary cycle, according to a UCLA economic forecast released Wednesday.” (Times of San Diego)
  3. ‘All-Electric’ Movement Picks Up Speed, Catching Some Off Guard “As interest quickly blossoms, real estate and construction industries are scrambling to keep up. Some national organizations that represent builders and developers have yet to formulate a position.” (The New York Times)
  4. How Best To Invest In Texas Real Estate In 2020 “More people than ever are renting, and that means investors mainly need to be cautious about where and how they invest. A big advantage for investors in Texas is that people are still moving there.” (Forbes)
  5. The Rosemont Revival: What’s behind the O'Hare Office Market Boom? “Many people mistakenly assume that members of the millennial generation largely want to live in downtown areas. However, the generation that begins to turn 40 this year is more nuanced and geographically diverse than common assumptions would suggest.” (RE Journals)
  6. Commercial Real Estate Projections Look Bright For Orange County “A three-year outlook forecast projects a bright future for California's commercial real estate market will continue to improve.” (Patch.com)
  7. CRE Investors, Brokers, Lenders Expect Rush to Place Capital Ahead of U.S. Election “According to a new report, commercial real estate investors, brokers and lenders are expecting a potential surge of activity in the first half of 2020.” (AZ Big Media)
  8. Chicago Retail Real Estate Market Improves, but It's Still Not Good “The Chicago-area retail vacancy rate has fallen for three straight quarters and now stands at its lowest level in two years. But competition from e-commerce isn't going away.” (Crain’s Chicago Business)
  9. Houston Office Market Hit by Energy Woes “The office market is bracing for another tough year as the energy industry continues to shrink amid the declining price of oil, which fell this week to its lowest level in more than a year.” (Midland Reporter-Telegram)
  10. Multifamily Investors Are on the Hunt in 2020 “Buyers will be out in force in 2020. That was the emphatic message delivered by attendees who took our annual survey at the GlobeSt. Apartments Conference in Los Angeles late last year.” (GlobeSt.com)
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