10 Must Reads for the CRE Industry Today (January 22, 2018)

The new U.S. tax law erodes the historic-building credit that developers have long used to help finance historic building renovations, the Wall Street Journal reports. The Atlanta Business Chronicle highlights 18 new U.S. commercial real estate developments. These are among today’s must reads from around the commercial real estate industry.

  1. Tax Law Erodes Historic-Building Credit, Threatening Some Projects “The new U.S. tax law has eroded the value of an incentive that developers have long used to help finance renovations of historic buildings around the country, raising worries about the prospects for future projects.” (Wall Street Journal, subscription required)
  2. 18 Big New Commercial Real Estate Developments around the U.S. (Slideshow) “New high-rise office towers in Oakland; a skyscraper in Austin; a state-of-the-art distribution center in Houston. These are just a few of the newest commercial real estate projects planned around the United States.” (Atlanta Business Chronicle)
  3. Why Apple’s New Campus and Amazon’s HQ2 Won’t Be Neighbors “As Amazon makes waves in its search for a second headquarters, Apple is also on the hunt for an additional campus. But the Cupertino, Calif.-based company will likely choose a different location than Amazon – with a different set of implications, to boot.” (MarketWatch)
  4. Amazon’s Cashierless ‘Go’ Convenience Store Set to Open “Nearly a year after it was promised, Inc.’s cashierless convenience store is slated to open to the public on Monday.” (Wall Street Journal, subscription required)
  5. Retail Under Trump: More Cash, Different Problems “For retailers seeking to reestablish a role in the changing retail landscape, that boost may prove impactful. For for those still struggling to find their place, or, even worse, those leveraged and without a profit, the tax bill may actually hurt.” (CNBC)
  6. Sunshine Cinema, a Beloved Manhattan Theater, Goes Dark “On Sunday, the five projectors at the Sunshine Cinema beamed for the last time, the finale of a cultural mainstay on the Lower East Side of Manhattan. The movie theater, which had screened independent and foreign films since 2001, was sold last year to New York City developers with plans to demolish it.” (The New York Times)
  7. Avison Young Report: Should We Expect More Modest Commercial Real Estate Activity in 2018? “There’s little evidence that the commercial real estate market is headed for a thud in 2018. But change is coming, as a new commercial forecast predicts that the days of tumbling vacancy rates and soaring sales appear to be over, starting with this year.” (RE Journals)
  8. The Next Frontier: Why Investors Are Flocking to Rego Park “Hipsters and Rego Park might not get along very well. ‘It’s not trendy enough for them,’ said Kobi Zamir, a broker with GFI who focuses on the neighborhood. ‘They’re looking for more nightlife, and I think it’s a little bit lacking in Rego Park.’” (The Real Deal)
  9. Economy Watch: Amazon HQ2 to Drive Up Rents in Any Market “The impact will be smaller in major metros with large housing stocks, but some markets will feel the heat more than others, Apartment List report.” (Commercial Property Executive)
  10. From the Archives: Meet the Little W’burg Building That’s Home to Over 1,000 LLCs “At first glance it seems like one nondescript building among scores in South Williamsburg, a three-story brown-brick property housing a small retail store and a couple of apartments above.” (The Real Deal)
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