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10 Must Reads for the CRE Industry Today (July 2, 2019)

Investments surge in real-estate technology startups, reports the Wall Street Journal. The New York Times takes a deeper look into Macy's plans of an 800-foot tall office tower atop its Herald Square store. These are among today's must reads from around the commercial real estate industry.

  1. Commercial Property Joins Tech Revolution as Spending Soars “For years, real-estate technology startups watched from the fringes as big banks and venture-capital firms lavished attention on financial-technology firms.” (Wall Street Journal, subscription required)
  2. Should Macy’s Build a Giant Tower in One of N.Y.’s Most Congested Neighborhoods? “Now Macy’s, the epicenter of Herald Square for more than a century, wants to test the area’s limits. It plans to build an 800-foot tall office tower atop the iconic store, part of what could be the beginning of a building spree in the district.” (The New York Times)
  3. Shopping Centers Exploring Facial Recognition in Brave New World of Retail “As their struggle with store closings persists, some U.S. mall owners and retailers are stepping up their use of technology that recognizes people’s faces but stops short of identifying and recording them.” (Wall Street Journal, subscription required)
  4. Manhattan Home Sales Get Short-Term Lift on Mansion Tax Increase “Manhattan home sales perked up in the second quarter from a prolonged slump, as buyers raced to close deals ahead of a July 1 tax increase on higher priced properties.” (Bloomberg)
  5. Energy Industry Yields Mixed Bag for Office Sector "There may not be a direct connection, but oil impacts office real estate and the office sector in most of North America's energy markets continues to feel the effects of the oil downturn of 2014-2017." (Commercial Property Executive)
  6. Should Developers Focus On Micro Units Or Large, Ultra-Luxe Units? “Developers are always looking to maximize the price per square foot of each apartment unit to strengthen their multifamily investment. This is one of the reasons why micro units are so appealing to developers, as they command a very high price per square foot in many markets across the country.” (Forbes)
  7. JLL Sees Boost in Brokerage Mergers as Clients Get Bigger “More commercial real estate brokerages are poised to acquire their competitors in coming months as the industry accommodates investors with bigger pocketbooks and global ambitions, according to the chief executive officer of Jones Lang LaSalle Inc.” (Bloomberg)
  8. Most Investors Plan to Increase Senior Housing Activity “Senior housing investment activity is expected to pick up. In the US senior housing and investor care survey from CBRE, 62% of investors questioned said they plan to increase senior housing purchases over the next 12 months, while 34% of respondents said that they plan to make no change to their level of senior housing acquisitions.” (GlobeSt.com)
  9. D-FW Shopping Center Occupancy Climbs With Slowdown in Building “Shopping center occupancies have risen to one of the highest levels in the last decade thanks to a cutback in retail building.” (Dallas News)
  10. How Tech is Improving the CRE Owner and Tenant Relationship “Historically, the tenant-landlord relationship has been fairly transactional: the tenant occupies a space and pays the landlord rent to use it, in a deal that often lasts years or even decades. With more and more companies growing rapidly and offering employees flexible work arrangements, tenants expect more from their landlords.” (GlobeSt.com)
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