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11 Must Reads for the CRE Industry Today (Sept. 16, 2020)

The Wall Street Journal goes inside a New Mexico nursing home where residents and the providers who care for them struggle with the effects of the coronavirus. House Democrats will forgo recess to close a deal with Republicans on a new COVID-19 aid bill, reports Reuters. These are among today’s must reads from around the commercial real estate industry.

  1. Inside a Nursing Home Devoted to Treating Those With Covid-19 “In a New Mexico long-term care facility, residents rely on care providers for medical care and moments of connection.” (The New York Times)
  2. 'Problem Solvers' Meet their Match in U.S. Congress Coronavirus Aid Fight “U.S. House of Representatives Speaker Nancy Pelosi on Tuesday said Democrats were open to delaying an October recess to get a deal with Republicans on a new coronavirus aid bill, as a $1.5 trillion proposal unveiled by moderates was attacked by conservatives and liberals.” (Reuters)
  3. Apparel Retailer Francesca’s Issues ‘Going Concern’ Warning as Sales Tumble “Apparel retailer Francesca’s said Tuesday its ability to continue is in doubt after it reported a quarterly sales decline of 29%, citing major supply-chain constraints.” (CNBC)
  4. Facebook Buys REI’s New HQ for $367M, Expanding Seattle-Area Footprint Beyond 3M Square Feet “Facebook is yet again expanding in the Seattle region, its largest engineering hub outside of Silicon Valley.” (GeekWire)
  5. H&M’s Coronavirus Recovery Beats Expectations “Fashion retailer says well-received collections and cost cuts helped it return to profit.” (Wall Street Journal)
  6. Cushman, Industrious Form Alliance as Office Industry Rallies Behind Flex Space “Cushman & Wakefield has launched an alliance with Industrious, a startup co-working firm, to build market share in one of the few growing office-space businesses during the pandemic.” (Wall Street Journal)
  7. America's Wealthy Likely to Power Pandemic-Hit U.S. Holiday Sales: Deloitte “The wealthy in America are expected to splurge online for gifts and home decorations this holiday season, even as the COVID-19 pandemic erodes sales growth to the slowest in at least a decade, according to a forecast from Deloitte.” (Reuters)
  8. Hollywood’s Restart From COVID Brings Higher Rents, Intense Demand for Studio Space “CBRE anticipates production space supply to grow by at least 10 percent in the coming months.” (Commercial Observer)
  9. WeWork Looks at the Office Market’s Post-COVID Future “To learn more about how enterprise companies are adapting the way they use real estate, we spoke with Ronen Journo from WeWork.” (Commercial Observer)
  10. Stein Mart Leases Disposition Begins “A&G Real Estate Partners is marketing leases for 280 stores, along with distribution and office space, as part of the discount retail chain’s bankruptcy.” (Commercial Property Executive)
  11. Arch Street Capital Buys DC-Area Office Tower “As part of a partnership with VEREIT, formed on behalf of a Kuwait-based institutional client, the company acquired a majority interest in the fully leased property.” (Commercial Property Executive)
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