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11 Must Reads for the CRE Industry Today (Oct. 22, 2020)

The pandemic is threatening urban renewal in cities across the nation, according to the Associated Press. San Francisco restaurants can increase indoor capacity to 50 percent starting Nov. 3, reports the San Francisco Chronicle. These are among today’s must reads from around the commercial real estate industry.

  1. San Francisco Restaurants Can Increase Indoor Capacity to 50% Starting Nov. 3 “San Francisco has reached the yellow tier in the state's coronavirus risk tracking system, meaning more people can be allowed indoors for dining. The city also has a goal of allowing outdoor bars without food to open next month.” (San Francisco Chronicle)
  2. U.S. Retailers Secure Stores as Worries about Election Unrest Mount “As security experts warn that the U.S. presidential election could spark renewed civil unrest, those stores remain clad in plywood as retailers seek to keep property and employees safe in the event street violence flares anew.” (Reuters)
  3. Cuomo Extends New York Eviction Ban—Again “New York governor Andrew Cuomo extended the ban on Covid-related commercial evictions and foreclosures on Tuesday.” (Forbes)
  4. Disneyland and Other California Theme Parks Get Rules for Reopening “Large parks must be in the state’s “yellow” tier for economic recovery, with the virus largely contained, which could be a long wait.” (The New York Times)
  5. Amazon Launches One-Hour Grocery Pickup at All U.S. Whole Foods Stores “Amazon has ramped up curbside pickup at Whole Foods stores during the pandemic, amid a broader shift to online grocery shopping.” (CNBC)
  6. Radisson Launches Brand for Individual Hotels, Small Chains “The global hospitality company is also expanding its existing brands, having signed a total of 10 deals across EMEA in the third quarter.” (Commercial Property Executive)
  7. From Detroit to Oakland, Pandemic Threatens Urban Renewal “Downtown Detroit was returning to its roots as a vibrant city center, motoring away from its past as the model of urban ruin. Then the pandemic showed up, emptying once-bustling streets and forcing many office workers to flee to their suburban homes.” (The Associated Press)
  8. How Election Results Could Affect REITs: Analysts “With third-quarter earnings at hand, REIT analysts with Mizuho Securities USA looked at which ones would benefit from a Biden win or a Trump win.” (The Real Deal)
  9. Hooray for Hourihan: CBRE’s CIO Is Leading Its Platform Through Unchartered Territory “Earlier this year, Kim Hourihan was selected to lead CBRE’s investment platform. She’s been a steady hand during an unprecedented crisis.” (Commercial Observer)
  10. Class A Apartments in Top Markets Are Leading the Rise in Concessions “Class-A markets and expensive markets are seeing an increase in apartment concessions.” (GlobeSt.com)
  11. Vornado Sees $100M Retail JV loss, $190M 220 CPS Gains in Q3 “Vornado has taken an additional $103 million impairment loss on its prime retail joint venture, while 220 Central Park South pulled in another $187 million in Q3.” (The Real Deal)
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