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10 Must Reads for the CRE Industry Today (May 29, 2019)

Developers build enormous arenas dedicated to e-sports events, reports The New York Times. Companies are enlisting ride-share app drivers to identify homes on their routes real-estate firms can buy and quickly sell for a profit, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

  1. As E-Sports Grow, So Do Their Homes “The rise of e-sports is no surprise to anyone who has followed the video game industry. They are expected to bring in more than $1 billion in global revenue this year, as millions of fans watch hundreds of events from all over.” (The New York Times)
  2. Uber Drivers Seek Extra Cash Working for House Flippers “Brandon Taylor delivers food for UberEats and Amazon, but he has recently taken on another job: scouting potential targets for a house flipper.” (Wall Street Journal, subscription required)
  3. How IKEA Is Using A Small Planning Studio In Manhattan To Drive Its Urban And Online Growth “When home-furnishings giant IKEA opened its first U.S. Planning Studio—a smaller format than its traditional stores, tailored to city centers—on Manhattan’s Upper East Side in April, the Swedish chain said it was one example of how it was reaching customers in “new ways that are more accessible and more personalized.” (Forbes)
  4. How to Make Money in Real Estate “Home sales are down, transfer taxes are up, and more regulations are rolling out daily. But there are still plenty of ways to make a buck in this town.” (Crain’s New York Business)
  5. Sears Duals with Ex-CEO Lampert Over Deal That Saved Some Stores "Former Sears Holdings Corp. Chief Executive Edward Lampert is caught up in a legal feud between the collapsed retailer he once led and the new Sears formed from assets he purchased in a bankruptcy sale, with each side accusing the other of not paying what it owes. Dueling legal actions were filed in recent days, as the collection of darkened stores and emptied shelves that makes up the old Sears prepares to settle up with creditors. Old Sears is seeking a court order to force Mr. Lampert to agree to pay more than $200 million to hold up his end of a court-approved bargain that allowed him to buy hundreds of stores out of the retailer’s bankruptcy." (Wall Street Journal, subscription required)
  6. WeWork Leases Large Space on Sixth Avenue by its Headquarters “WeWork has leased another space — but this time it may use it for its own staffers.” (New York Post)
  7. All Eyes on Brooklyn’s Tech Surge “A recent KPMG survey found that New York City will eclipse Silicon Valley’s tech scene in the next four years due to its increasing number of incentives and government-backed programs.” (Commercial Property Executive)
  8. Downtown Chicago Apartment Market's Hot Streak Continues “The downtown Chicago apartment market soared even higher in the first quarter, with few signs it’s getting too close to the sun.” (Crain’s Chicago Business)
  9. Are Waterfront Hotels Ready for Climate Change? “Memorial Day weekend ushers in the unofficial start to summer tourism season, and the strong economy suggests this may be an especially great season for the hospitality industry.” (Curbed)
  10. Coworking Concerns: The Office ‘In-Crowd’ In Doubt? “There is no question that the coworking industry has both impressed on the street and transformed the office sector.” (GlobeSt.com)
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