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10 Must Reads for the CRE Industry Today (June 25, 2019)

MarketWatch looks at the new report on housing from the Joint Center for Housing Studies of Harvard University. Warehouse landlords are adding new amenities, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

  1. The Future of Real Estate Investment: Smart and Climate-Resilient Buildings “Climate change has created a huge demand for sustainable and resilient design and construction. Climate-resilient design focuses on the design of buildings, landscapes, communities and regions to respond to natural disasters and the effects of climate change, such as rising sea levels, increasing heat waves and regional droughts. For real estate professionals, climate-resilient strategies ensure that capital doesn’t fail and continues to perform at a net positive rate, even during catastrophic events.” (Forbes)
  2. Landlord Groups Planning Lawsuit Over New NY Rent Law “The landlords are revolting. Two powerful landlord groups are hammering out a new lawsuit that they hope will overturn rent rules signed by Gov. Cuomo last week that make it much harder for owners to raise apartment rents. The Rent Stabilization Association and the Community Housing Improvement Program have tapped law firm Mayer Brown to file their case in a New York federal court by mid-July, sources told The Post.” (New York Post)
  3. Warehouse Design Steals a Page from Tech Playbook “Coffee bars, lounges and other creature-comforts that have become regular features of modern office spaces are beginning to make their way to warehouses. Facing a tight labor market, e-commerce operators, logistics firms, manufacturers and developers are incorporating amenities that were first popularized in Silicon Valley’s campuses before spreading to urban office skyscrapers. New perks at distribution centers also include patios, discounted dining venues, gyms, landscaped walking trails and even a beach bocce court.” (Wall Street Journal, subscription required)
  4. America’s Housing Market Is Competitive, Unequal and Often Just Getting By. Just Like Us. “The American housing market mirrors our society, the decisions we make, and the problems they leave us with, according to a report out Tuesday. Inequality is widening as competition remains fierce for scant resources. Finding housing is getting harder for those of lesser means – and people of color – and maybe a tiny bit better for everyone else. And homeownership provides a bit of an economic edge – for those who can grab it.” (MarketWatch)
  5. How the Gig Economy Is Shaping the Commercial Real Estate Sector “Urbanization is upon us. Millennials and Gen-X’ers are finding that life in the city is simply more attractive and convenient than their parents found life in the suburbs. And big urban metropolis are responding by forging out green space, adding more residential real estate and improving overall infrastructure. As Millennials are now the largest generation in the workforce and the one who embraces gig work at an increased speed, corporations and SMEs alike are also forced to revise their thinking and their plans regarding the locations and types of work space they need.” (Forbes)
  6. PG&E Owns Land Across California. What Will Happen to It? “If Ken Holbrook has his way, the Humbug Valley, a sprawling tract of alpine meadow high in the northern Sierra, will become California’s first American Indian tribal cultural park. That distinction doesn’t yet exist, but it would apply to tribal land open for public recreation. Holbrook is the executive director of the Maidu Summit Consortium, a tribal organization devoted to land stewardship and education, and he’s one of a few thousand Mountain Maidu who still live near an area of Plumas County historically occupied by the tribe’s ancestors.” (San Francisco Chronicle)
  7. Amazon’s New Beauty Store for Professionals Pose Threat for Beauty Retailers “Amazon.com Inc on Monday unveiled its online professional beauty store to sell supplies to licensed professional stylists, barbers and estheticians, weighing on shares of other beauty retailers. It would sell a wide range of brands from Wella Color Charm and RUSK to OPI Professional, and other supplies typically found in salons and spas, Amazon said in a blog post here. Following Amazon’s announcement, shares of beauty retailers Ulta Beauty Inc fell about 3% and those of Sally Beauty Holdings plummeted 9%.” (Reuters)
  8. Dogs vs. Cats: Why Pet-Friendly Hotels Are Warming to Felines “Rajah’s name means “king” in Arabic and when he checks into a hotel, he expects the royal treatment—from specially prepared meals to amenities like plush pinstripe pillows. While experienced travelers might view that level of luxury as yawningly routine, it’s not when you consider that Rajah is a two-year-old orange tabby cat. Hotels marketed as ‘pet friendly’ have primarily focused on dogs, offering different forms of canine coddling. More are discovering, however, that felines might make for more manageable guests.” (Wall Street Journal, subscription required)
  9. Huge Candlestick Project Going Ahead as Cleanup Scandal Keeps Hunters Point Shipyard on Hold “The cleanup scandal at the Hunters Point Naval Shipyard site has paralyzed the city’s biggest redevelopment project, putting thousands of housing units on hold as the U.S. Navy prepares to release the long-delayed final plan to retest the Superfund site. But the tale of incompetence at the shipyard has had one beneficiary: Candlestick Point.’ (San Francisco Chronicle)
  10. Networking Through Boston’s Co-Working Sector “Coworking has become a major driver of change in today’s real estate landscape, approaching traditional strategies with a more flexible mindset. As of last year, there was more than 26.9 million square feet of coworking space across 20 major markets in the U.S., Yardi Matrix data shows. Although today the bulk is still concentrated in the core of large metros, there’s still a lot of untapped potential in the suburbs.” (Commercial Property Executive)
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