- How to Stay in Your Circle of Competence When Investing in Real Estate “Back when I was a real estate developer, I used to own a dozen or so shopping centers and I thought to myself, ‘Wouldn’t it be cool to open up pizza stores inside of my shopping centers?’ It sounded good. I could become the landlord and the tenant, and if all goes as planned, I could collect rent, while simultaneously build a pizza empire. Boy was I wrong.” (Forbes)
- This Is the One Retail Category That Doesn’t Have Too Many Stores “The number of home improvement retail locations actually fell 1.1% year-over-year, according to UBS analysts, serving as one of the few examples of retailers who have a good handle on supply and demand when it comes to their fleet of stores. Home Depot Inc. and Lowe’s Cos. Inc. account for about 45% of the subsector’s sales, with both expected to continue to show strength in the topline.” (MarketWatch)
- How Do You Empower Women in Commercial Real Estate? “How do we empower women in commercial real estate? How do we help elevate women, support working mothers and encourage female entrepreneurialism in this industry? I was recently discussing these issues on a panel at Harvard’s Real Estate Weekend. Many industries face these questions, and there is no perfect answer. When I launched KIG CRE, I set out to create a more dynamic, insightful and transparent multifamily brokerage firm.” (Forbes)
- Bitcoin Mining Reshapes Real Estate in a Small Washington Town “Eager to escape the traffic and congestion of the Seattle area, Nia Collins has her eye on a model home in a new gated community in Wenatchee, Wash., about 150 miles to the east. She expects the home will go on the market for around $700,000. But she doesn’t know exactly—because nobody has returned her calls. ‘There’s so much going on they can’t keep up,’ says Ms. Collins, a 58-year-old interior designer.” (Wall Street Journal, subscription required)
- Elaine Wynn’s Boardroom Battle Effort Could Drive Wynn Resorts Sale or Breakup “After casino mogul Steve Wynn stepped down in February from his position of chief executive at Wynn Resorts Ltd. in the wake of sexual harassment allegations - questions have emerged about the future of the $18 billion luxury hotel empire that bears his name. Now the plot thickens as Wynn's ex-wife, Elaine, a 9.25% shareholder who co-founded Wynn Resorts with Steve, is seeking to shake up the casino giant's board in a move that at analysts believe will result in a sale or break up of the company.” (The Street)
- Bon-Ton is Preparing to Liquidate. Here’s a Map of All its Stores “A complete liquidation will leave mall owners scrambling to fill the huge gaps at their properties. Some landlords at top-tier centers welcome the opportunity to bring in more profitable tenants. But others, at less-desirable and less-trafficked malls, risk not being able to fill those locations as easily. There's also the fear that co-tenancy clauses will be triggered as Bon-Ton moves out, where existing tenants might have the opportunity to negotiate rents or terminate their leases entirely.” (CNBC)
- Mega Cities of the Future Key Challenge: Cyber Risk “According to global property consultant JLL's new report titled -- 'Clicks and Mortar: The Growing Influence of Proptech' -- cities in Asia Pacific and worldwide are getting smarter, but they must be ready for the cyber security risks that accompany the growing adoption of tech-enabled real estate and infrastructure. Commissioned by JLL and authored by start-up community Tech In Asia, the report analyses the convergence of real estate and technology in 13 markets across the region and the ways that emerging technologies are being applied to connect urban real estate, infrastructure and services.” (World Property Journal)
- Silverstein Plans Israel Debut with $200M Bond Offering “Larry Silverstein is the latest New York developer to head to the land of milk, honey and cheap financing. Silverstein Properties plans to debut on the Israeli market with a $200 million corporate bond offering, backed by a portfolio of eight Manhattan properties, including 7 World Trade Center and Silver Towers. The proceeds will go towards refinancing Silverstein’s planned 57-story tower at 520 West 41st Street, according to documents filed on the Tel Aviv Stock Exchange.” (The Real Deal)
- Top 5 Largest Office Pipelines in the Northeast “Development activity in the northeastern U.S. remains concentrated in established markets, where stable economies and steady cash flows are still very attractive to institutional investors. Manhattan continues to lead the way, as it has done over the past few decades, further fueling the creation of stand-alone submarkets densely populated by premier high-rises and live-work-play campuses. The list highlights the Northeast’s top 5 office markets based on square footage under construction as of April 2018. The ranking uses Yardi Matrix data regarding office assets totaling least 25,000 square feet.” (Commercial Property Executive)
- Metals-Forging Firm Near Boeing Field Closing After 8 Decades So Real Estate Can Be Sold “After 78 years in business, a local manufacturer that forges metals for Boeing, the U.S. Navy and other big customers is shutting down so its property can be sold and redeveloped. Jorgensen Forge, which operates a 22-acre facility next to Boeing Field in Tukwila, just over Seattle’s southern border, said Wednesday it has stopped taking new orders and will wind down operations over the next six months or so.” (Seattle Times)
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