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10 Must Reads for the CRE Industry Today (Sept. 24, 2020)

The National Multifamily Housing Council found 90.1 percent of apartment households made a full or partial rent payment by September 20. Netflix signs the largest lease in Los Angeles County in 2020, reports Commercial Observer. These are among today’s must reads from around the commercial real estate industry.

  1. NMHC Rent Payment Tracker Finds 90.1 Percent of Apartment Households Paid Rent as of September 20 “The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 90.1 percent of apartment households made a full or partial rent payment by September 20 in its survey of 11.4 million units of professionally managed apartment units across the country.” (The National Multifamily Housing Council)
  2. Dust Off Desks and Boot Up Terminals: Wall St. Returns, Fitfully “New York’s finance industry is beginning to reoccupy offices in fits and starts, impeded by uncertainty around the virus.” (The New York Times)
  3. What CEOs Really Think About Remote Work “Top executives at Netflix, BlackRock and other companies weigh in on at-home arrangements, office reopenings and the future of work.” (Wall Street Journal)
  4. Netflix Takes 171K SF in Burbank, Largest New LA County Office Lease in 2020 “Burbank is a major magnet for media firms.” (Commercial Observer)
  5. In Miami Beach, Live Theater Returns — in Vacant Storefronts “This fall, the seven deadly sins will be found all along an iconic Miami Beach thoroughfare — but they’ll be socially distanced, thankfully.” (Washington Post)
  6. Wendy’s, Pizza Hut Raise Concerns Over NPC Bankruptcy Sale “Wendy’s Co. and Pizza Hut LLC are raising concerns over their largest franchisee’s effort to sell its assets, including the franchise agreements, in bankruptcy court.” (Wall Street Journal)
  7. Marriott CEO Embraces ‘Hygiene Theater,’ Noting All the Measures Boost Guest Comfort Levels “Marriott CEO Embraces ‘Hygiene Theater,’ Noting All the Measures Boost Guest Comfort Levels.” (Skift)
  8. Senate OKs Bill to Loosen Virus Limits on Restaurants, Bars “Legislation to loosen Gov. Tom Wolf’s pandemic restrictions on Pennsylvania’s bars and restaurants easily passed the state Senate on Tuesday.” (Fox 56)
  9. AIA: "Architectural Billings in August Still Show Little Sign of Improvement" “Business conditions remained stalled at architecture firms during August as demand for design services continued to decline, according to a new report from the American Institute of Architects (AIA). (Calculated Risk)
  10. ‘The COVID Discount Bin’: Investors Lose Confidence In CRE As REIT Stocks Slump “While major stock indices show the market has largely recovered from its coronavirus-induced plunge, REIT stocks are still well below their pre-crisis levels, showing a lack of investor confidence in the future of commercial real estate.” (Bisnow)
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