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Eight Must Reads for the CRE Industry Today (April 7, 2022)

Randy April 6, 2022 8 Views
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  1. Hybrid work for many is messy and exhausting “Market research firm Forrester predicts that this year, 60 percent of offices will adopt a hybrid work policy, but it also expects that one-third will fail at successfully executing as companies continue to design the workplace around face-to-face interaction.” (The Washington Post)
  2. Old Stock Getting Iced Out Amid Glacial Pace Of Return To Office “While some traditional tenants have clung to remote work, Fileti said the diverse tenant profile in Century City could be helping occupancy. The area offers the ability to connect with people in the same industry and offers access to a range of services.” (Bisnow)
  3. Dave & Buster’s to Buy Family Entertainment Company Main Event for $835 Million “Once the all-cash deal closes, which is expected later this year, Main Event Chief Executive Officer Chris Morris will take the reins as CEO of Dave & Buster’s, the companies said Wednesday.” (The Wall Street Journal)
  4. Developers are turning to master-planned communities to solve the housing affordability crisis “U.S. housing supply fell to the lowest levels observed in over 20 years, according to the National Association of Realtors. That’s dramatically pushing up prices for consumers, and catching the attention of leaders.” (CNBC)
  5. Vertical Farms Expand as Demand for Year-Round Produce Grows “At a time when supply chain disruptions continue to slow distribution, consumers embrace healthy eating habits and climate change is expected to affect crop yields, a practice known as controlled-environment agriculture, including indoor vertical farms relying on artificial light and technology, is attracting venture capitalists.” (The New York Times)
  6. This Low-Cost Grocery Store Is Expanding Faster Than Any Other Chain “In 2021 alone, ALDI unveiled 88 new locations, which encompassed more than 2.2 million square feet of store space. This was just over 40% more space than Publix, which received the runner-up spot with its addition of 1.3 million square feet of grocery store space in Florida. Grocery Outlet—which added almost 900,000 square feet—took the third spot on the list, followed by Giant Eagle, Sprouts Farmers Market, and Amazon Fresh.” (Eat This, Not That!)
  7. Planning to Leave Real Estate to Heirs? You Might Want to Tell Them Ahead of Time. “There are, of course, many reasons people tend to clam up about real estate holdings. Survey participants cited fears over heirs not being able to afford the upkeep and taxes, the possibility of family conflicts, and concern that heirs will sell the property quickly. Still, it’s important to share information for seamless transition purposes, says Marcy Keckler, senior vice president of financial advice strategy at Ameriprise.” (Barron’s)
  8. Las Vegas Was Built By a Gambling, Commie-Hating Real Estate Developer, Not a Gangster “The film got rave reviews but one of the people that watched it took issue with its accuracy. That person was W.R. Wilkerson III. He knew first hand that claiming that Bugsy Seigel was the founder of Las Vegas was nothing more than Hollywood dramatization because his father,  W.R. “Billy” Wilkerson was really the person who should be credited with the development of the gambling capital of the country.” (Propmodo)
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