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10 Must Reads for the CRE Industry Today (November 27, 2019)

Millennials are moving to the Western mountain states, pushing up apartment rents, according to the Wall Street Journal. The New York Times looks at the never ending competition between retailers and Amazon. These are among today's must reads from around the commercial real estate industry.

  1. Property Investors Follow Millennials to the Hot Mountain States “Millennials and plenty of others seeking a lower cost of living are pouring into the Western mountain states, boosting economic growth and pushing up apartment rents.” (Wall Street Journal, subscription required)
  2. Luxury Malls Expanding in Pursuit of Younger and Less Well-Heeled Customers “Owners of swanky shopping centers are doing something that most malls in the U.S. only dream of: expanding.” (Wall Street Journal, subscription required)
  3. Chasing Amazon, Retailers Are in a Never-Ending Arms Race “The economy is relatively strong, and consumers are spending. So why are things so tough for some retailers?” (The New York Times)
  4. 3 Questions To Ask When Deciding If Working With An IBuyer Is Right For You “Traditionally, selling your home means contacting a real estate agent, who will market your home until you receive an offer. iBuyers are looking to cut out the middle man and simplify that process. That said, working with an iBuyer may not be right for everyone.” (Forbes)
  5. Why Are Real Estate Investors Avoiding Chicago? “Local commercial real estate pros keep banging the drum about how the city and state’s fiscal woes are scaring investors away from the Chicago market. Some new data support that narrative.” (Crain’s Chicago Business)
  6. 8 Trends Shaping Real Estate in the Food and Beverage Industry “The U.S. restaurant industry and the real estate it occupies are being reshaped by fundamental industry shifts including the rapid growth of third-party, meal-delivery services, increasing adoption of in-store automation, and the ongoing proliferation of fast-casual concepts, according to a new report from CBRE.” (AZ Big Media)
  7. Cap Rate Compression Expected to Halt into 2020 Election “Cap rate compression in the current market environment is expected to come to a halt heading into the 2020 election year as investors consider their exposure to domestic and geopolitical risks, Matthew Mousavi, managing principal at SRS National Net Lease Group, tells GlobeSt.com.” (GlobeSt.com)
  8. Self-Storage Rents Still Down Year-Over-Year “Self-storage rents further decreased in October due to new projects coming online. On a year-over-year basis, street-rate rents have contracted by 3.4 percent for 10×10 non-climate-controlled and 3.7 percent for climate-controlled units of similar size.” (Commercial Property Executive)
  9. Q&A: EB-5 Stakeholders Bank on Future Changes “A program that became a vital source of capital following the last downturn is getting a makeover. We asked Mark Edelstein of Morrison & Foerster to explain the impact of the overhaul on U.S. sponsors.” (Multi-Housing News)
  10. Major New Hotel to Open in Dallas Arts District, Bringing Luxury Cred and a Happening Bar “A brand new JW Marriott is coming to the Dallas Arts District. What’s even more exciting is that the 15-floor hotel is being developed by Sam Moon Group, which recently expanded its wholesale retailer business to include commercial real estate development.” (Paper City)
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