NREI WIRE
Five Below store Five Below

10 Must Reads for the CRE Industry Today (July 13, 2018)

Real estate developers and government officials are among those looking to define “opportunity zones” around the country, the Wall Street Journal reports. A new report ranks the top states to retire, according to CNBC. These are among today’s must reads from around the commercial real estate industry.

  1. New Hotel or Affordable Housing? Race Is On to Define ‘Opportunity Zones’ “A new Marriott hotel in the Phoenix area might seem a world apart from an affordable-housing complex in the Watts neighborhood of Los Angeles. But both are poised to benefit from the new “opportunity zone” program created in last year’s federal tax overhaul, which gives tax breaks for investments in low-income neighborhoods.” (Wall Street Journal, subscription required)
  2. Fed’s Escape From Crisis Holdings Could Hit Dead End “Not long ago the Federal Reserve expected to quietly shed nearly half of its $4.5-trillion portfolio by around 2022, leaving little trace of the extraordinary steps it took to face down the financial crisis. But an unexpected market kink could force the Fed to scrap the plan two or three years early and permanently leave it holding $1 trillion more than it wanted.” (Reuters)
  3. Here Are the 10 Best States to Retire “There’s another list out of the best places to retire, this time by personal finance website Bankrate.com. South Dakota came in first place.” (CNBC)
  4. Build-A-Bear Workshop’s ‘Pay Your Age’ Deal Canceled Amid Chaos “Build-A-Bear Workshop’s ‘pay your age’ deal proved to be too alluring for its own good. Only hours after it began, the bargain event was forced to shut down after chaos erupted across its U.S. stores.” (Fortune)
  5. What Family Offices Need To Look For In A Joint Venture Real Estate Partner “For many single-family and multifamily offices, there is a desire to invest directly into real estate opportunities rather than a fund or a managed account. The ability to do the proper due diligence for each family office varies based upon the internal resources and experience that the office has available. With the constant requests from real estate companies wanting a family office to invest with them, it is essential for the family office to be able to screen any opportunities efficiently before spending additional time.” (Forbes)
  6. Five Below to Open Flagship Store on Fifth Avenue “Value retailer Five Below is moving into one of the most desirable yet pricey shopping districts in the U.S.: New York’s Fifth Avenue. The location, which will be Five Below's first in Manhattan, is set to open in November near Bryant Park in between 44th and 45th streets, the company told CNBC. It will be about 10,800 square feet, compared with an average Five Below store that's roughly 8,000 square feet.” (CNBC)
  7. Have Real Estate Investors Learned From The Recession? “The Great Recession of 2008 left its mark on many aspects of our society, from real estate investment to job numbers. Though it’s been almost a decade, we’re still struggling with its legacy, from sluggish economic growth to an employment rate that is finally beginning to match pre-recession levels.” (Forbes)
  8. Air-Rights Brokerage Claims Brookfield Failed to Pay Commission on Hudson Yards Deal “A brokerage that specializes in air rights deals claims Brookfield Properties cheated it out of a $375,000 commission for a sale in Hudson Yards.” (The Real Deal)
  9. Manhattan Office Leasing Activity at 7 Year High in Q2 “According to CBRE’s latest Manhattan Office MarketViews report for the second quarter of 2018, office leasing activity totaled 8.96 million sq. ft. in Q2 2018 and that year-to-date leasing activity totaled 15.36 million sq. ft., 12% higher than the same period last year. The availability rate during Q2 was 11.8%, virtually unchanged from Q1 2018, and down 20 basis points (bps) from a year ago.” (World Property Journal)
  10. Tariffs and Trade War Rippling Through Boston Hospitality, Tourism and Real Estate “The Trump administration’s trade war with China in particular and its tariffs on aluminum and steel are both starting to ripple through the Boston area’s hospitality, real estate development, transportation, and tourism sectors.” (Curbed Boston)
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish