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10 Must Reads for the CRE Industry Today (November 1, 2019)

Eighteen-hour cities are attracting investors away from the typical 24-hour cities, reports Forbes. Google eyes a new campus in the Silicon Valley property market, according to the The Mercury News. These are among today's must reads from around the commercial real estate industry.

  1. 18-Hour Cities Are Having A Moment -- Here's How They Can Seize The Opportunity “Until very recently, the national commercial real estate conversation was focused primarily on “the big six” cities: Boston, Chicago, Los Angeles, New York, San Francisco and Washington, D.C. Today, though, the conversation has changed. Investors are looking beyond the big six to other large and midsized metros around the country.” (Forbes)
  2. Where Is The New Class Of Investors Buying Single-Family Rentals? “Thanks to the rise in tech and tools that are making SFR investing and management easier than ever, we’re seeing the rise of a new class of investor: the midsize investor.” (Forbes)
  3. JP Morgan Chase Donates $5 Million To Build Affordable Housing In Miami “An affordable housing initiative has been announced and partners believe it will show Miami to be a place of resilience, hope, and creativity. JP Morgan Chase is giving a $5 million grant to build affordable housing along the transit corridors.” (CBS Miami)
  4. Starbucks to Open its First Mobile Pick-Up Store “Starbucks will open its first mobile pick-up cafe Nov. 5 in New York City. Customers will use Starbucks’ app to order and pay for their orders. The opening of the store, located in Manhattan’s Penn Plaza, comes as the coffee chain tries to address consumers’ desire for convenience.” (CNBC)
  5. Google Eyes Big New North San Jose Campus “Google is eyeing north San Jose’s Assembly at First tech development and is planning to lease a big chunk of space in the complex, according to several sources who are familiar with the Silicon Valley property market.” (The Mercury News)
  6. Focus on the Experience “The biggest reason for the emphasis on experiences, of course, is that experiences can’t be replicated by the online retailers that sell merchandise to consumers sitting in their living rooms. The biggest upshot of the emphasis on retail experiences has been a boom in restaurant openings across the state.” (Nevada Business)
  7. Fort Worth’s First Smart Hotel Opens This Weekend “The property has emerged as the world’s first battery-powered hotel with its replacement of a traditional diesel generator and backup power source with a lithium-ion battery pack, the LG ESS.” (D Magazine)
  8. New York-Based Multifamily Investors Flock to South Florida “There is a wave of investors who are currently selling their New York-based properties to invest in the South Florida area. Why? Mainly because of the recent rent control law and its negative impact on returns on investments.” (GlobeSt.com)
  9. CRE’s Perceptions of Coworking “A new Cushman & Wakefield report on flexible workspace and coworking strategies finds nearly two-thirds of companies are using coworking to some degree and many expect to double their commitment over the next five years, citing flexibility and reduced real estate costs as their top reasons.” (Commercial Property Executive)
  10. Opportunities Rise From WeWork’s Woes “WeWork helped prove the value in flexible offices. Now, after the company’s woes and the SoftBank bailout, Zach Aarons, a partner at PropTech Venture Capital fund MetaProp, has no doubt other firms will step in to fill any void in the market.” (GlobeSt.com)
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