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10 Must Reads for the CRE Industry Today (October 2, 2019)

Food-delivery companies add supermarkets and convenience stores to increase revenue, according to the Wall Street Journal. International Workplace Group (IWG), another coworking company, is thriving, as its stock has risen over 60 percent in the last 12 months, reports The New York Times.

  1. The Next Big Gig for Delivery Companies Is Your Groceries “Food-delivery companies are adding supermarkets and convenience stores to their order queues.” (Wall Street Journal, subscription required)
  2. As WeWork Slows Down, Biggest Competitor Says It’s Thriving “But the business that WeWork is in — providing office space on flexible terms to professionals and businesses — can produce solid returns.” (The New York Times)
  3. D-FW Office Construction Increases as Leasing Activity Slips in Third Quarter “Dallas-Fort Worth office leasing dipped in the third quarter, but year-to-date totals are still ahead of where they were in 2018.” (Dallas Morning News)
  4. Chastened WeWork Weighs Pullback in China “We Co.’s new management team is considering reining in aggressive expansion plans in China as part of the company’s new emphasis on controlling costs, people familiar with the matter say.” (Wall Street Journal, subscription required)
  5. Commercial Real Estate Market Remains Strong, Colliers Manager Says “West-central Florida’s demand for retail and industrial space continues to be encouraging, says executive Danny Rice.” (Tampa Bay Times)
  6. Time Running Out for Barneys as Sale Deadline Looms “It’s down to the wire for bankrupt retailer Barneys New York, with an October 3 deadline to convert interest from a handful of potential buyers into a viable offer.” (Crain’s New York Business)
  7. The Biggest Mall Owner in the US is Going Online “The biggest mall owner in the U.S., Simon Property Group, is teaming with online shopping site Rue La La’s parent company to launch a new kind of website for people looking for deals.” (CNBC)
  8. Can Affordable Housing Operators Afford Technology? “Technology is one among many potential solutions to increase the supply of affordable housing by creating operating efficiencies that can help to increase the return on affordable assets. However, because affordable housing is already a challenging asset class, can affordable operators absorb the cost of new technologies?” (GlobeSt.com)
  9. Forever 21 Becomes Another Brick-and-Mortar Victim “Fast-fashion chain Forever 21 has become the latest major retailer to file for Chapter 11 bankruptcy, underscoring the growing struggles faced by operators of brick-and-mortar apparel stores.” (Commercial Property Executive)
  10. CRE Spreads Normalize, Sector Performance Diverges at Midyear “Mid-2019 brought noted change in spreads and divergence in property sector performance to the U.S. commercial real estate sector, according UBS Asset Management’s third U.S. Real Estate Summary report. However, the industry in general is set to continue to thrive through the remainder of the year.” (Commercial Property Executive)
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