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10 Must Reads for the CRE Industry Today (June 24, 2019)

Restaurants push back against fees charged by delivery companies, reports the Wall Street Journal. Rent is becoming increasingly unaffordable for many U.S. workers, according to Forbes. These are among today's must reads from around the commercial real estate industry.

  1. Restaurants Are Arm-Twisting Delivery Companies to Lower Fees “Delivery has quickly emerged as one of the biggest conundrums facing the food business, from restaurants to groceries. Consumers want the convenience, but the technology and logistics required to get it right—whether in-house or through an outside provider—often are more costly, outweighing any additional revenue generated.” (Wall Street Journal, subscription required)
  2. Rent Is Becoming Unaffordable For Many U.S. Workers [Infographic] “The National Low Income Housing Coalition has released its latest "Out of Reach" report which shows how America's housing crisis is affecting millions of renters. The report focuses on a central statistic, the Housing Wage, which is an estimate of the hourly wage a full-time worker must earn to afford a rental home without spending more than 30% of his or her income on housing costs.” (Forbes)
  3. Home Is Where They Know Your Name (and Face, Hands and Fingerprints) “Biometric technologies such as fingerprint locks and facial-recognition systems have made the leap from spy movies and high-security institutions to the home. Beyond the sci-fi cool, biometric design features offer the promise of a frictionless lifestyle where you need never fumble for house keys or even a smartphone app.” (Wall Street Journal)
  4. A New Wave of Construction Is Hurting Listings In Some Neighborhoods: Report “A residential building boom in the city has made construction sites nearly impossible to avoid for prospective buyers and renters.” (Crain’s New York Business)
  5. CRE Industry Cautiously Optimistic on Downturn: Survey “The majority of real estate professionals don’t anticipate an economic downturn until at least 2020, according to real estate advisory firm RCLCO. In the company’s just-released Mid-Year 2019 Sentiment Survey, 88 percent of respondents were confident in a little breathing room before an economic downturn, which they believe won’t occur for at least another year.” (Commercial Property Executive)
  6. How Camber Creek Vets Its Proptech Investments “Venture Capital firm Camber Creek has been focused on the real estate market since its inception in 2011, with many of the companies it has backed now a fixture in the industry.” (GlobeSt.com)
  7. Dressbarn Announces First Store Closures As Part of Plan to Shutter All 650 Locations “Dressbarn is starting to shut stores this month and next, kicking off the process of it going out of business entirely. Its parent company, Ascena Retail Group, announced in May that it planned to wind down Dressbarn and ultimately shut all 650 or so of the women’s clothing stores in order to focus on its more profitable brands, like Ann Taylor and Loft.” (CNBC)
  8. Should You Shy Away From The 'Best' Class A Apartment Buildings? “When it comes to multifamily properties, some investors stick with Class A properties and see them as the best asset classes in the multifamily sector. After all, they are usually fully leased with top tenants, fetch market-leading rents, require little if any repairs or renovations and have a stable monthly income.” (Forbes)
  9. Trump Calls Fed a ‘Stubborn Child’ in Its Refusal to Cut Rates “President Donald Trump accused the Federal Reserve of behaving like a “stubborn child” in refusing to cut interest rates as he attacked the central bank again for keeping credit too tight.” (Bloomberg)
  10. Toys R Us to Reportedly Open New Stores Later This Year “Defunct children’s retail chain Toys R Us will open new stores later this year, according to Bloomberg.” (CNBC)
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