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10 Must Reads for the CRE Industry Today (November 20, 2019)

Short-term rentals are not significantly impacting home prices, reports the Wall Street Journal. Forbes looks at how investors can capitalize on co-living. These are among today's must reads from around the commercial real estate industry.

  1. Short-Term Rentals Have Modest Impact on Home Prices, Study Suggests “Short-term vacation rentals haven’t significantly contributed to the rise in American housing costs, according to a nationwide study by Oxford Economics that was commissioned by booking website Expedia Group Inc.” (Wall Street Journal, subscription required)
  2. What Co-Living's Appeal To Millennial And Gen Z Renters Means For Investors “For investors, the future is bright based on a proven demand for co-living in all major gateway markets across the U.S.” (Forbes)
  3. Lineage Logistics Expands Global Cold-Storage Space with $900 Million Acquisition “The acquisition, expected to close in 2020, comes as shifting consumer tastes toward fresh foods and the rapid growth in online grocery sales fuel more demand for refrigerated storage.” (Wall Street Journal, subscription required)
  4. More Millennials Are Preparing to Rent for the Rest of Their Lives “Millennials still hope to buy homes one day, but the number of those who expect to be able to do so is dwindling. Nearly one in five millennial renters said they expect to rent indefinitely, according to a new survey by Apartment List.” (Business Insider)
  5. Bank of America Tower Sells for Record Per-Foot Price “At $695 a square foot, the deal would mark a record per-foot price for Houston, easily beating the previous record of $528 a square foot.” (Houston Chronicle)
  6. CBRE Releases Southeast Construction Costs Report “The rising cost of construction is resulting in higher asking rents among all property types, greater strains on custom tenant build-outs, denser office spaces and limited tenant mobility.” (Contractor)
  7. Shopping Center Sells for 31% Below 2014 Price “The sale shows how risky owning retail real estate has become over the past few years, as more investors shun the sector or offer low prices for properties within it.” (Crain’s Chicago Business)
  8. Apartment Rents Post Modest Gains in Houston, Zoom in Austin “Houston apartment rents ticked up in October, while other large Texas cities posted more sizeable gains, according to a new RentCafe report.” (Houston Chronicle)
  9. The Rise of Hipsturbia and Other New Demographic Patterns “Demographic patterns are changing—and not just in certain markets. The changes in demographics trends are important for developers and investors to follow, and they could also mean big opportunities for those paying attention.” (GlobeSt.com)
  10. Busting the Retail Vacancy Myth “The persistent myth that New York is experiencing a retail vacancy “crisis” has once again captured the attention of some elected officials who are once again floating a new commercial rent control plan. The latest proposal was met with swift opposition from business leaders and homeowners throughout the city – and for good reason.” (Real Estate Weekly)
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