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10 Must Reads for the CRE Industry Today (May 2, 2019)

The Wall Street Journal looks at how congestion pricing in New York City will affect the area’s commercial real estate. Malls, such as Garden State Plaza in New Jersey, are being renovated to include office space and residential areas, in addition to stores, according to CNBC. These are among today’s must reads from around the commercial real estate industry.

  1. Congestion Pricing Could Give Lift to Some Home Values “Congestion pricing won’t make only driving in New York City more expensive.” (Wall Street Journal, subscription required)
  2. Nordstrom to Add Two Mini Stores in Its New York Expansion “Nordstrom waited decades to expand in Manhattan, but now it’s making up for lost time. It introduced its men’s store last year and is opening a seven-story flagship store this fall.” (The New York Times)
  3. One of the Most Valuable Malls in America is Getting a Makeover “One of the most valuable malls in America is about to get a total makeover, further signaling how bricks-and-mortar retail is evolving to include places to work, workout and even live — not just buy clothes.” (CNBC)
  4. Tommy Hilfiger Expanding Madison Avenue Headquarters “Despite closing its Fifth Avenue store last month, Tommy Hilfiger has expanded its headquarters at 285 Madison Ave. to roughly 220,000 square feet.” (New York Post)
  5. Hugo Boss Profit Stumble May Make 2019 Target Harder to Hit “Hugo Boss AG reported a plunge in first-quarter earnings amid a weak U.S. market, a stumble as the German clothing retailer aims for growth this year.” (Bloomberg)
  6. Fed Holds Rates Steady, Signals Concern Over Sluggish Spending, Low Inflation “Federal Reserve officials agreed to keep their benchmark interest rate unchanged and signaled comfort that their wait-and-see posture had steadied the economy after fears of a slowdown had sent markets reeling at the end of last year.” (Wall Street Journal, subscription required)
  7. Real Estate Firm Names the Top Cities for Risk-Seeking Investors “Courageous investors looking for long-term opportunities should look to emerging cities in the Middle East, India and China, according to global real estate advisor Savills.” (CNBC)
  8. Greater NYC Area Leads U.S. in Retail Construction  “While construction continues to rage across New York City, activity in the retail sector has gone on the downswing, just as it has across the U.S., according to a new report by the New York Building Congress.” (Commercial Property Executive)
  9. Commercial Real Estate Fundamentals in U.S. to Moderate Soon, Says ULI “According to the Urban Land Institute's Center for Capital Markets and Real Estate, the outlook for the U.S. economy, real estate capital markets and real estate fundamentals remains positive in 2019, but is expected to moderate over the next three years.” (World Property Journal)
  10. Multifamily Mortgages Set for another Strong Year “Commercial and multifamily mortgage originators expect 2019 to be another strong year in lending activity, according to the Mortgage Bankers Association’s (MBA) 2019 Commercial Real Estate Finance (CREF) Outlook Survey.” (Real Estate Weekly)
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