10 Must Reads for the CRE Industry Today (July 11, 2018)

Fortune details the Fresh Market stores closing around the country. The economy of the Bay Area is growing twice as fast as the rest of the U.S., the San Francisco Chronicle reports. These are among today’s must reads from around the commercial real estate industry.

  1. These Are the 15 Fresh Market Stores Closing Across the U.S. “The Fresh Market, Inc., a North Carolina-based specialty grocery chain, announced this week that it will be closing 15 stores nationwide.” (Fortune)
  2. Bay Area Economy Growing Nearly Twice as Fast as Rest of U.S. “Were it a country, the Bay Area’s economy would be larger than Saudi Arabia’s, getting rich from its residents’ minds rather than minerals pumped from the ground, according to a new report.” (San Francisco Chronicle)
  3. Kate Hudson’s Fabletics Athleisure Line Plans to Open 75 New Stores in Global Push “As Fabletics celebrates five years as a fashion brand in the athleisure industry — athletic wear designed for working out or running errands — it's mapped out an aggressive growth strategy amid a competitive landscape that includes rivals Lululemon, Gap’s Athleta, Nike and Tory Burch Sport.” (CNBC)
  4. In Miami, a $300 Million Skyscraper Is Banking On Unrest in Turkey “The reelection in Turkey of President Recep Tayyip Erdogan last month did little to encourage foreign real-estate investors who have been avoiding the country because of his authoritarian rule. But the country’s economic uncertainty may prove helpful to Turkish real-estate developer Bekir Okan and his plan for what would be one of Florida’s tallest towers.” (Wall Street Journal, subscription required)
  5. New Clues on How Cities and States Stack Up in the Race to Win Amazon’s $5 Billion HQ2 “Of the 20 finalists for Amazon’s coveted HQ2 project, only seven are in one of the top 10 states in this year’s America’s Top States for Business” (CNBC)
  6. Global Debt Jumped by $8 Trillion in Q1, Rising to Record $247 Trillion “The amount of debt held in the world rose by the largest margin in two years during the first quarter of 2018, growing by $8 trillion during the first three months of the year, the Institute of International Finance reported Tuesday.” (Yahoo! Finance)
  7. The End of Annie Sez: From Off-Price Obsession to Retail Has-Been “The Annie Sez slogan used to be ‘It’s not just a store. It’s an obsession.’ Soon, the New Jersey-based Annie Sez will no longer be a store and the brand will be a retail has-been. The Canadian parent company of the brand is converting most of the Annie Sez stores to its sister chain, Mandee, and closing some stores as the leases expire.” (The Record)
  8. Nonprofit Files Plans for New Assisted Living Building in Hudson Yards “A nonprofit focused on helping homeless youths is planning a 60-unit building in Hudson Yards.” (The Real Deal)
  9. Target Expands Curbside Pickup “Target Corp. wants more customers to take advantage of its time-saving pickup option. The retailer has expanded its ‘Drive Up’ service to 200 additional stores across the Midwest and select other states.” (Chain Store Age)
  10. 124 EB-5 Investors Seek to Block USIF from Moving Money to Times Square Hotel Projecta “More than 100 Chinese EB-5 investors in Maefield Development’s 701 Seventh Avenue skyscraper want to stop their money from being redeployed into a new development nearby.” (The Real Deal)
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