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10 Must Reads for the CRE Industry Today (January 31, 2018)

Developers are starting to plan for a driverless future, the Wall Street Journal reports. Landlords are evolving to meet a new set of tenant demands, according to Forbes. These are among today’s must reads from around the commercial real estate industry.

  1. Say Goodbye to Garages as Developers Imagine a Driverless Future “Mass adoption of driverless cars is still years away, but architects, developers and planners already are designing new projects with autonomous vehicles in mind.” (Wall Street Journal, subscription required)
  2. Changes in Commercial Real Estate Are Rewriting Landlord Rules for the 21st Century “The digital transformation is more than just another buzzword. As the millennial workforce prepares for middle age, Gen Z is now also entering the workplace and continuing the drive for better technology and mobility. The future of commercial real estate is forcing landlords to evolve and meet a new set of tenant demands.” (Forbes)
  3. Retail Rents Decline in Big U.S. Cities as Landlords Succumb to the Retail Storm “The retail storm pounding weaker real-estate markets is starting to lash America’s biggest cities.” (Wall Street Journal)
  4. Toys R Us Poor Holiday Sales Cast Doubts on Its Future and Could Force Renegotiation of Loan Terms “Holiday sales this past year ballooned, but those riches didn’t extend to Toys R Us. The bankrupt toy store missed significantly on every number that mattered, sources say, likely forcing the retailer to renegotiate key lending terms.” (CNBC)
  5. Fed to Take a Step Toward a March Interest-Rate Hike “The Federal Reserve will make subtle, hawkish, changes to its statement this week to confirm what the market now expects: a rate hike is coming in March.” (MarketWatch)
  6. Completions Hit 30-Year High “Even as the construction pipeline has emptied out to a degree, new apartment supply reached a 30-year high in 2017. RealPage data show 395,777 completed units in the 150 largest US metro areas, a 46% increase over 2016 completions. However, on the whole demand continues to keep pace with the new supply.” (GlobeSt.)
  7. Stein Mart to ‘Explore Strategic Alternatives’ as Its Sales Wane “Off-price retailer Stein Mart on Monday said it was beginning to ‘explore all opportunities’ to improve sales and would ‘identify potential strategic alternatives’ to its current business model.” (CNBC)
  8. U.S. Consumer Confidence Rebounds; House Prices March Higher “U.S. consumer confidence rebounded in January and house prices increased further in November, suggesting that a recent acceleration in consumer spending was likely to be sustained despite sluggish wage growth.” (Reuters)
  9. City Council Speaker Considers Rent Regulations for Stores “The new energetic City Council Speaker Corey Johnson, fondly known as “CoJo” by colleagues, may turn into Stephen King’s rabid dog, Cujo, for the real estate industry.” (New York Post)
  10. Investor Seeks to Double Money on Fresh Direct Building “Atlas Capital Group has put a Long Island City warehouse occupied by online grocery Fresh Direct on the market for nearly double what it paid for the building just two years ago.” (Crain’s New York Business, subscription required)
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