- 5 Essential Financial Terms Every Single-Family Real Estate Investor Should Know “When it comes to handling your real estate investments, the words from U.S. businessman Peter Lynch consistently ring true: ‘Know what you own, and know why you own it.’ The internet and big data have been critical in making that sentiment a reality. It may have been nearly two decades in the making, but no stone has been left unturned when it comes to how these two technologies have transformed real estate and real estate investing.” (U.S. News & World Report)
- Waldorf Astoria May Convert 1,000 Rooms into Luxury Condos “The owner of the 47-story Waldorf Astoria New York may be planning to convert about 1,000 hotel rooms at the landmarked property into luxury condos, according to several sources. China-based Anbang Insurance Group purchased the hotel, located at 301 Park Ave., for $1.95 billion in late 2014. After the transaction closed months later, the firm's chairman, Wu Xiaohui, alluded to conversion plans for the structure's two towers without delving into specifics. According to sources, Anbang's vision is now coming into focus.” (Crain’s New York Business)
- The World’s Most Expensive Office Markets “The world's most expensive office markets share strong economic growth and constrained supply for premium space. Real estate services and investment firm CBRE Group ranked the top prime office markets by occupancy costs, which includes rent, local taxes and service charges. Overall, occupancy costs increased 2.4 percent from a year ago.” (CNBC)
- The Presidency Isn’t a Real Estate Deal “Even if Mr. Trump’s success is as significant as he claims, his skills don’t necessarily translate into the Oval Office. I have been a real-estate lawyer for 48 years and have represented some of the business’s most successful people in some of its largest deals—including the 72-member bank group that held approximately $4 billion of Mr. Trump’s debt in the early 1990s. I believe the skills that make a successful real-estate entrepreneur would produce an unsuccessful president. Here are six reasons why.” (Wall Street Journal)
- Las Vegas Reportedly Tapped for NHL Expansion “Within days of the death of NHL legend Gordie Howe and the Pittsburgh Penguins’ claiming of a fourth Stanley Cup, professional hockey is reportedly ready to expand — to the desert gambling mecca Las Vegas. The Associated Press, citing a person with direct knowledge of the NHL’s decision, is reporting Tuesday afternoon that the league has settled on Las Vegas, providing that local organizers can come up with a $500 million fee.” (MarketWatch)
- RI’s Pension Fund Haunted by 27-Year-Old Real Estate Investment and Legacy of Failure “The development known as the “American Express” building in Providence still haunts the Rhode Island pension fund 27 years later, as a State Representative just introduced a resolution to pay back a $1.7 million outstanding obligation to the fund long after the developer's bankruptcy. And it is just the tip of the iceberg of economic losses tied to real estate investments for the state's pension fund.” (GoLocalProv)
- Technology Repair Retailers Has Big Growth Plans “Given the growing proliferation of digital devices, it’s no wonder uBreakiFix is feeling bullish about expansion. The fast-growing technology repair company specializes in same-day repair service of small electronics. With some 200 locations across North America, uBreakiFix opened 24 stores during first quarter 2016. It expects to have a total of 275 stores by year end. The company was founded in 2009 as a brick-and-mortar alternative tech repair option that was quick, affordable and provided a quality customer experience.” (Chain Store Age)
- To Assume or Reject: Unexpired Real Property Leases in Bankruptcy “When a debtor files for bankruptcy, certain contracts that are executory such as unexpired real property leases may be assumed or rejected as part of the bankruptcy process. This ability to assume or reject has significant implications in the context of a debtor who is a lessor or a lessee – from offering a debtor-lessor or lessee a way to continue business operations wherein the lease is an essential component to its operations to relieving a debtor-lessee from future performance obligations that have become too burdensome.” (JD Supra Business Advisor)
- The Rise of the ‘Grocerant’: How Millennials Impact Supermarket Growth “Supermarkets no longer want to sell you just the makings for a meal, they want to make your dinner, too. An increasing number of supermarkets, dubbed "grocerants" — grocery restaurants — are stocking shelves with prepared foods and offering in-store dining, according to a recent study by The NPD Group. Since 2008, in-store dining and prepared foods have grown nearly 30 percent in groceries — accounting for 2.4 billion foodservice visits and $10 billion in consumer spending in 2015.” (CNBC)
- Study: Store Design Key to Attracting C-Store Shoppers “Store design plays a crucial role in attracting customers and driving foodservice sales in convenience stores. That’s according to the new study, Food-Forward C-store Design, which comes as more convenience retailers are pursuing foodservice as a growth opportunity. The report, from foodservice research and consulting firm Technomic and retail branding and design agency Chute Gerdeman, was undertaken to understand how evolving consumer demands and preferences for prepared foods and beverages can be met through convenience store design, décor, and layout.” (Chain Store Age)
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