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10 Must Reads for the CRE Industry Today (June 20, 2018)

A Kmart store has opened inside a Sears store in Brooklyn, CNBC reports. A foundation created by U.S. Interior Secretary Ryan Zinke is connected to a commercial real estate project backed by the chairman of oil-services giant Halliburton, according to Politico. These are among today’s must reads from around the commercial real estate industry.

  1. A Kmart Store Opens Inside a Sears Store in Brooklyn, And More May Be on the Way “Despite declining sales, mounting debts and looming maturities, Sears Holdings is still testing new initiatives. The latest one brings its Sears and Kmart brands together under one roof.” (CNBC)
  2. Exclusive: Zinke Linked to Real Estate Deal with Halliburton Chairman “A foundation established by Interior Secretary Ryan Zinke and headed by his wife is playing a key role in a real-estate deal backed by the chairman of Halliburton, the oil-services giant that stands to benefit from any of the Interior Department’s decisions to open public lands for oil exploration or change standards for drilling.” (Politico)
  3. Housing in America: Where’s the Progress? “Housing in America may be a microcosm of the nation itself: a bit less dynamic, far more costly and uncomfortably more unequal than we’d like.” (MarketWatch)
  4. GameStop in Talks About Potential Deal “GameStop has struggled with leadership issues recently, while its core business has faced declining sales for the past several years as more people download games directly to consoles, computers and mobile devices, bypassing traditional retail stores.” (Wall Street Journal, subscription required)
  5. Trump Tower Chicago Violates EPA Rules for Protecting Fish in River “The Trump International Hotel & Tower in Chicago is one of the largest users of water from the Chicago River, but records show it has never followed state rules governing the protection of the river’s fish. (The Associated Press)
  6. Real Estate Co-Investment Partnership Clubs for Family Offices “For family offices that want to invest into real estate, a partnership is an option worth considering. A family office real estate partnership is a private investment club that focuses on either U.S. properties or exclusively foreign commercial real estate.” (Forbes)
  7. S. Housing Starts Rebound in May “U.S. housing starts rebounded last month to the highest level since 2007, driven by a construction rebound in parts of the country that have lagged for much of the economic recovery as well as a lingering apartment boom.” (Wall Street Journal, subscription required)
  8. Regulation Accounts for Over 30% of Multifamily Development CostsNew research released last week by the National Association of Home Builders (NAHB) and the National Multifamily Housing Council (NMHC) found that regulation imposed by all levels of government accounts for an average of 32.1% of multifamily development costs, reaching as high as 42.6% in one-fourth of cases.” (Multifamily Executive)
  9. What a Cushman & Wakefield IPO Really Means “Real estate attorney Doug Ulene explains going public would be the only exit strategy for Cushman & Wakefield’s private equity backers.” (com)
  10. Two of Ascena’s Fashion-Outlet Brands Going Online “Apparel giant Ascena Retail Group is expanding its premium outlet fashion business to the online world.” (Chain Store Age)
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