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10 Must Reads for the CRE Industry Today (October 9, 2019)

Real estate market in New York is not in a 'free fall', according to Forbes. Online brand Allbirds plans to double its physical footprint next year, reports the AP. These are among today's must reads from around the commercial real estate industry.

  1. Why New York City’s Real Estate Market Isn’t In ‘Free Fall’ “I believe in the value of real estate in New York—unlike, apparently, the writers of the sensational headline that appeared in the New York Post last week, which described our real estate market as in ‘free fall.’ It’s not.” (Forbes)
  2. New Uber Tower in Dallas' Deep Ellum Moves Ahead with $135.5 Million in Permits “Developers have filed building permits for the downtown Dallas-area high-rise that will be home to thousands of Uber employees. The 25-story office tower is planned for the eastern edge of downtown in the Deep Ellum district. It's a project of Westdale Properties and developer KDC.” (Dallas Morning News)
  3. Allbirds, a Shoe Brand Born Online, to Double Stores “Online shoe brand Allbirds plans to more than double its store count next year, hoping to reach shoppers who want to touch and try on its wool shoes.” (AP)
  4. Google Buys 40 Acres of Farmland in Silicon Valley so It Can Grow Trees for Its Campuses “Google has purchased 40 more acres of land in Silicon Valley, but it’s not to build more office space.” (CNBC)
  5. Opportunity Zones Are All Sizzle, Fizzle and the Abuse of Good Intentions “Opportunity zones, a bundle of tax breaks dressed up as economic development, are the epitome of government largess the Trump way — sizzle, fizzle, a sleight of hand and abuse of good intentions.” (MarketWatch)
  6. Homes vs. Horticulture: Neighborhood Feuds with Developer Over Greenhouses “The crumbling old greenhouses on Woolsey Street in San Francisco’s Portola District were once the center of the neighborhood’s thriving flower-growing industry. The nurseries are now at the heart of a development battle over 63 homes.” (San Francisco Chronicle)
  7. The Best Markets for Student Housing “Student housing remains a strong investment market. Major metropolitan cities are usually the best locations for student housing, and currently the top markets include San Diego, Los Angeles and San Francisco, along with Houston and Dallas in Texas as well as the Southeast in Tampa, Orlando and Atlanta.” (GlobeSt.com)
  8. LinkedIn Expanding Its Space in the Empire State Building “Networking and job site LinkedIn is expanding by 188,653 square feet to occupy 501,600 square feet at the Empire State Building. The company already occupies 312,947 square feet of the legendary, 2.8-million-square-foot building.” (New York Post)
  9. The Recession-Resistant Case for Healthcare Real Estate “Healthcare is one of the fastest-growing sectors of the US economy, driven by the country’s burgeoning and aging population. Not surprisingly, commercial real estate investors are highly attracted to the healthcare real estate niche and are ready to invest.” (GlobeSt.com)
  10. Amazon Invests in Multifamily Proptech Firm SmartRent “Amazon has invested an undisclosed amount in SmartRent, a two-year-old smart home startup that sells services such as keyless entry to owners of multifamily communities, the company announced.” (Commercial Observer)
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