10 Must Reads for the CRE Industry Today (October 17, 2018)

Sears’ Chairman Eddie Lampert told employees that the retailer needs to make “material progress” to avoid liquidation, CNBC reported. Co-living spaces are on the rise in big cities, according to the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

  1. Tiny Rooms, Shared Kitchens: Co-Living on the Rise in Big Cities “Co-living, a budding real-estate trend often derided as an extension of college dorm life, may be growing up. At co-living buildings, tenants lease tiny rooms in larger apartments shared with strangers. Renters have access to living rooms, kitchens and other common spaces, while amenities like cleaning services, dog walking and cooking classes are part of the deal.” (Wall Street Journal, subscription required)
  2. Carl Icahn Has Taken a Stake in Dollar Tree “Carl Icahn is hunting for deals at dollar stores again. The billionaire investor is accumulating a significant stake in Dollar Tree — the discount retailer that acquired its rival Family Dollar in a 2015 deal that Icahn himself had lobbied for, The Post has learned.” (New York Post)
  3. Sears Chairman Eddie Lampert Makes Plea to Employees: We Need ‘Material Progress’ to Avoid Liquidation “In a Tuesday morning town hall, former Sears CEO Eddie Lampert gave 1,000 of his employees a rallying cry as the company gears up for its most important holiday season.” (CNBC)
  4. Trump Complains About Rising Interest Rates, Calling the Fed ‘My Biggest Threat’ “President Trump reiterated his complaints that the Federal Reserve is raising short-term interest rates too fast, calling the U.S. central bank ‘my biggest threat.’ ‘It’s independent so I don’t speak to him, but I’m not happy with what he’s doing, because it’s going too fast,’ Mr. Trump said in an interview with the Fox Business Network, referring to Fed Chairman Jerome Powell, whom he nominated last year.” (Wall Street Journal, subscription required)
  5. Climate Change and the Coming Coastal Real Estate Crash “The Sand Palace story also underscores a new reality that’s been slow to dawn on many involved in coastal real estate: Climate change, and the accompanying rise in sea level and storm activity, will require expensive investments and shake the foundations of some of the most expensive land in the country.” (Curbed)
  6. Best Buy to Benefit From Sears Bankruptcy as It’s Now ‘Last Man Standing,’ Analyst Says “The downfall of Sears may bring a hearty influx of customers to Best Buy and therefore boost its bottom line, according to a report Tuesday by Loop Capital.” (CNBC)
  7. Real Estate Q3 Earnings Preview “Earnings season kicks off this week in the real estate sector. More than 100 REITs and 10 homebuilders will report third-quarter earnings over the next five weeks.” (Seeking Alpha)
  8. Target Aims to Fill the Void Left by Toys ‘R’ Us with 250,000 Square Feet Dedicated to Toys “Target Corp. said Tuesday that it will introduce nearly a quarter-of-a-million square feet of additional space across more than 500 stores for toys, an effort to snap up market share left by the liquidation of Toys ‘R’ Us.” (MarketWatch)
  9. How Sears Kit Homes Changed Housing “While Amazon’s logistics empire and same-day delivery service is perhaps its crowning achievement, sending homes through the mail isn’t new or novel. More than a century ago, Sears, Roebuck & Co. sent and shipped entire home kits across the country, a then-revolutionary service that would impact not just retailing, but home design and construction.” (Curbed)
  10. Here’s What Moody’s Got in Its Takeover of REIS “Moody’s closed on its acquisition of commercial real estate data company REIS this week after completing a tender offer valued at $225 million.” (The Real Deal)
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