lord and taylor

10 Must Reads for the CRE Industry Today (June 6, 2018)

A battle is playing out between gentrifying forces and the desire to keep affordable housing in Washington, D.C., The New York Times reports. U.S. home prices will rise at twice the speed of inflation an pay, according to Reuters. These are among today’s must reads from around the commercial real estate industry.

  1. Washington Torn Over How to Grow Without ‘Breaking Up a Village’ “A battle between market forces leading to gentrification and the pushback to maintain affordable housing is playing out in the capital’s neighborhoods.” (The New York Times)
  2. S. House Prices to Rise at Twice the Speed of Inflation and Pay: Reuters Poll “An acute shortage of affordable homes in the United States will continue over the coming year, according to a majority of property market analysts polled by Reuters, driving prices up faster than inflation and wage growth.” (Reuters)
  3. Real Estate Property Manager and Developer JLL Launches a $100 Million Tech Investment Fund “The multi-billion dollar real estate developer and property manager JLL is getting into the tech investment game with the launch of a new $100 million fund run by corporate subsidiary JLL Spark.” (TechCrunch)
  4. Starbucks May Be Better Off Without Schultz “A void and an opportunity. That's the story on what the pending exit of Howard Schultz from Starbucks Corp. means after his 40-odd years leading the charge for the premium coffee company he founded.” (The Street)
  5. Lord & Taylor Is Leaving Its Iconic Fifth Avenue Location “Lord & Taylor’s iconic location on New York’s Fifth Avenue is no more.” (CNBC)
  6. 3 World Trade Center to Open with Nearly Half of Tower Leased “On Monday, Larry Silverstein will cut the ribbon to officially open his new 3 World Trade Center, the third office tower he has developed there since the 9/11 tragedy. At 80 floors, it tops out at 1,079 feet.” (New York Post)
  7. American Job Openings Outnumber the Jobless “The U.S. had more job openings this spring than unemployed Americans.” (Wall Street Journal, subscription required)
  8. Top 6 Commercial Real Estate Trends “Amid widespread optimism about the strength of US commercial real estate, a recent Akerman report identified top trends among executives, and said that taxes and technology are major elements that will define the CRE trajectory for the next three years.” (com)
  9. City Releases Vision for Reshaping Gowanus “The city released a broad outline for a long-awaited rezoning of Gowanus Monday evening.” (Crain’s New York Business, subscription required)
  10. Baltimore’s Downtown Revival Rolls On “Multifamily transaction volume in 2017 nearly matched 2016's tally, which was the peak for the current cycle. This year, absorption is expected to keep pace with a spate of new supply, leading to modest rent growth.” (Commercial Property Executive)
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