detroit train station

10 Must Reads for the CRE Industry Today (June 18, 2018)

A new service is planning a tool to help commercial real estate clients track market trends, according to the Wall Street Journal. Ford is renovating a 17-story office tower in Detroit to make way for autonomous vehicle testing and research, The Associated Press reports. These are among today’s must reads from around the commercial real estate industry.

  1. VTS Plans Tool to Help Commercial Real Estate Clients Track Market Trends “The big data scrum in the commercial real-estate industry is about to heat up with the launch of a new service by a startup whose investors include Blackstone Group” (Wall Street Journal, subscription required)
  2. Ford: Detroit Train Station Key to Autonomous Vehicle Plans “Ford Motor Co. is embarking on a 4-year renovation of the 105-year-old depot and 17-story office tower just west of downtown. The massive project is expected to increase the automaker’s footprint in the city where the company was founded, provide space for electric and autonomous vehicle testing and research, and spur investment in the surrounding neighborhood.” (The Associated Press)
  3. So You Want To Be A Landlord? Five Considerations Before You Buy “The first of the month is easy for me to love: Rent is due! I sit back in my office as the payments roll in, knowing that my investments are working for me. Real estate is an attractive investment for many reasons, but the passive income from rent is at the top of the list. Some of the other benefits include tax advantages, property appreciation and having tenants paying off your mortgage. With all these benefits, it is hard to find another investment that can match the perks of real estate.” (Forbes)
  4. Larry Silverstein Flees the ‘Old Fogeys’ of Midtown “Why, after 33 years of living in a Park Avenue high rise, has New York developer Larry A. Silverstein decided to leave Midtown for Lower Manhattan?” (The New York Times)
  5. Misfires Mark Wynn Resorts’ Probe of Sexual Misconduct Allegations “Among concerns about the investigation described by some of the alleged victims and some former employees: Investigators told them their names would be revealed to the board members leading the probe. Some were asked to be interviewed on casino premises rather than a more private setting. Current employees weren’t told how to report any sexual-misconduct complaint until two months after the allegations against Mr. Wynn were published.” (Wall Street Journal, subscription required)
  6. Four House Flippers, Reality Meets Reality TV “Watch enough HGTV and flipping houses starts to look easy. Just talk to Joshua Levitt, who spent the better part of 2014 sitting on his couch in South Orange, N.J., watching shows like “Flip or Flop” and taking notes as the charismatic stars frenetically bought distressed properties and, with the right mix of anxious looks and Carrara marble, successfully flipped one by the end of every episode.” (The New York Times)
  7. Life Sciences Real Estate: Convincing Investors It’s Worth It “Cities across the country are looking toward life sciences technology as the next boost for their economies.” (com)
  8. Nordstrom, Inc.’s Real Estate Could Be a Gold Mine “In recent years, with in-store sales sagging, downsizing has become the norm in the department store industry. As a result, many department store chains have looked to sell off excess real estate in order to cash in on high property values.” (The Motley Fool)
  9. Eastern Consolidated Closing Down in JulyEastern Consolidated, the Manhattan-based full-service commercial real estate brokerage, will shut its doors at the end of July, Commercial Observer has learned. (Commercial Observer)
  10. More Brooklynites Than Ever Are Working, But They Still Struggle to Afford Housing “Brooklyn has added jobs at a robust clip since the Great Recession, and the unemployment rate has fallen to the lowest level since 1990, according to an economic report released Friday by state Comptroller Thomas DiNapoli. But the jobs propping up those numbers are in low-wage industries such as health care and retail.” (Crain’s New York Business, subscription required)
Hide 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.