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10 Must Reads for the CRE Industry Today (July 15, 2019)

Several retailers set to compete with Amazon’s Prime Day, reports the New York Times. Forbes looks at the positive trajectory of the mall REIT sector. These are among today’s must reads from around the commercial real estate industry.

  1. Amazon Prime Day Brings Sales, and Risks, for Retailers “This year’s Prime sale stretches across two days, and Amazon is not the only company involved. A record 250 retailers are offering their own sales to compete with Prime Day.” (The New York Times)
  2. The Best Bargains Aren't On Amazon Prime, They're In The Mall REIT Sector “Yet, despite the best efforts of Amazon, brick and mortar stores aren’t going away so soon. Why do you think the online king bought up Whole Foods two years ago in the first place? Because it recognizes the benefits of brick and mortar too.” (Forbes)
  3. Early Adopters Of Proptech In CRE Will Be The Big Winners “A senior VP at the company explained why to the Times, ‘We had a lot of technology in our buildings, but no interoperability between the various systems. We wanted those various silos to be able to communicate with each other and share data.’” (Forbes)
  4. Counting Down to a Green New York “The aggressive new plans passed at city and state levels could mean a fundamental reimagining of one of the world’s most recognizable high-rise cities. The changes touch every corner of the housing market, from affordable to luxury development and prewar walk-ups to glassy new towers.” (The New York Times)
  5. Barneys Explores Possible July Bankruptcy Filing as it Grapples with Rent Hike at Manhattan Flagship “Luxury retailer Barneys New York is making preparations for a bankruptcy filing that could come as soon as this month, people familiar with the matter tell CNBC.” (CNBC)
  6. Disneyland Makes Surveillance Palatable—and Profitable “As families float through It’s a Small World, run from Stormtroopers or snap a picture with Buzz Lightyear, Disney is watching their every move. It’s remarkable how much data Disney can collect in the process—and how willing people are to authorize such behavior. At a time when Facebook Inc., Google and myriad other technology companies are getting hammered over consumer privacy issues, Disney is running the happiest police state on earth.” (Bloomberg)
  7. Store Closures Accelerate and May Top 12,000 in 2019. Here’s what’s Closed so far this Year “Despite the year being more than halfway over, the pace of store closures doesn’t appear to be slowing down in the retail industry. More companies piled on the bad news this week.” (CNBC)
  8. How To Save on Construction Costs Before Ground Breaking “Today, everyone is looking to save on construction costs. Construction company C.W. Driver Cos. uses a value engineering strategy to save costs for all construction projects without sacrificing on design or quality of the property. Value engineering starts before ground breaking, when builders can work with developers to find out where costs can be curbed.” (GlobeSt.com)
  9. Go Big or Go Home? Why Small Hotel Development in NYC May Be a Thing of the Past “An analysis by the The Real Deal of Department of Buildings filings for new hotels has found that while developers are continuing to plan larger hotel projects at a rate comparable to historical levels, new plans for smaller hotels have suddenly become rare.” (The Real Deal)
  10. Record Numbers at Port of NY, NJ Track Logistics Boom “The Port of New York and New Jersey logged record-breaking cargo volume in the first five months of 2019 and the elevated activity level is further bolstering New Jersey’s already booming industrial real estate sector.” (Commercial Property Executive)
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