Costco NICHOLAS KAMM/AFP/Getty Images

Eight Must Reads for the CRE Industry Today (Sept. 26, 2020)

Costco appears to have avoided the COVID-19 impact as sales jumped over 10 percent, reports Business Insider. The New York Times looks at how restaurants and outdoor dining can survive the winter. These are among today’s must reads from around the commercial real estate industry.

  1. Roadside Hotels Are Resting Relatively Easy During the Pandemic “These days, American travelers are taking shelter at modest hotels situated along highways and in remote locations. Investors should consider doing the same.” (Wall Street Journal)
  2. Costco Is Thriving During the Coronavirus Pandemic: It Just Posted a $14 Billion Jump in Annual Sales “Costco appears to have avoided the COVID-19 woes hurting other retailers: Its sales jumped by nearly $14 billion, or nearly 10%, in the year to August compared to the previous year” (Business Insider)
  3. How Yurts and Heat Lamps Will Save New York’s Restaurants “Outdoor dining has been a magical distraction from pandemic gloom. But the city has done little to ensure that it will survive in colder weather.” (The New York Times)
  4. The Future of Airbnb “Home-sharing’s challenges aren’t only about social distancing and hygiene. Overtourism, racial bias, fee transparency and controlling the party crowd are also in the mix.” (The New York Times)
  5. Colony Capital Sells Six Massive Hotel Portfolios, Unloads $2.7B in Debt “Colony Capital has sold almost 200 hotels to hospitality management firm Highgate in exchange for $67.5 million and the assumption of $2.7 billion in debt.” (Commercial Observer)
  6. Major NYC Project in Limbo After Rezoning Is Scuttled “Political pressure prompted Industry City’s developers to withdraw the 1 million-square-foot plan, but some local leaders remain hopeful that the Brooklyn waterfront project will eventually move forward.” (Commercial Property Executive)
  7. Most Retailers Have Now Struck Agreements with Landlords on Back Rent “In July, two-thirds of retailers paid only 65% of rent, but most tenants have worked out repayment plans.” (
  8. The Pandemic is Changing Life Sciences Real Estate “The combination of increased funding and a workforce that needs to come to the offices makes the sector resilient.” (
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