TGIF — Thank Goodness It’s Finally…time for the CRE news articles that we’ve collected. This week we found a new way for universities to bring in revenue, a perspective of the CRE industry from millennial workers, a declining outlook for a big market, and a whole lot more. See the 10 CRE news articles you shouldn’t miss below to get an overview of everything happening in the industry:
1.Real estate firm CIO moves on Amid shifts to shared services – Sharma says the biggest challenge at Colliers was convincing the firm’s real estate brokers to share data with the corporate CRM system, which is no mean feat among staff competing for the next big sale. He says he explained that sharing data grants them access to better data and more information about customers. (CIO.com)
2. Laundromat Business Provides Advantage for Developer – One company that seems to have a real solution for the empty-space syndrome of mixed-use properties is affordable housing builder C&C Development. (Affordable Housing Finance)
3. Howard University signs deal to turn Meridian Hill dorm into luxury rentals – The agreement is the latest move by the historically black university to bring in new revenue and reverse years of financial strain. (The Washington Post)
4. Colliers Tapped to Raise $217M for Two-Tower Austin Project – The development, One Two East, will offer 474 units of multifamily and active senior living residences. The community will cater to Austin’s continued growth in apartment demand as the city has been one of the top two fastest growing cities in the United States in the past several years. (Multihousing News)
5. Building for the Future – “I hope to see our buildings as useful and relevant in 20 years as they were the day we completed them, unlike the obsolete warehouse and manufacturing facilities we see today in so many markets across the country,” Elam says. (Colliers International – Knowledge Leader)
6. Millennials and Our Perspective on the CRE Dinosaur – In the end, millennials are changing how you do business. Like it or not, we are the future of business and we are here to stay. We all know “time can kill a deal,” that’s real life. So, let’s all get aboard the information highway in CRE and zoom along like the rest of the world. (SVNGLL)
7. North Florida: Retail Blazes On – At the close of the third quarter, total vacancy stood at 7.3 percent in the North Florida markets of Jacksonville, Orlando and Tampa — a year-over-year decline of 70-basis-points, according to the Q3 Florida Retail MarketView report by CBRE. (FranklinStreet)
8. 4 Things You Need to Know About the Dallas Market in 2016 – Not only has Dallas’ residential market grown at a steady, healthy pace—“housing prices have increased by double digits as population growth drives demand and tight lending restrictions constrain supply”—but the commercial market has exploded as well. (Bisnow)
9. Why Washington Is Making It Easier For Rich Foreigners To Buy U.S. Real Estate – On Dec. 18, the U.S. started a process to make foreign ownership of American real estate that much easier. This month, it now becomes a tax obligation to foreign owners, which will help the Internal Revenue Service crack down on just who exactly is owning these properties. (Forbes)
10. Camden issues declining outlook for Houston apartment market in 2016 – Camden Property Trust issued a negative outlook for the Houston apartment market, which is bracing for more energy job cuts this year. The Houston-based multifamily company (NYSE: CPT) gave the local apartment market a C grade with a declining outlook for 2016.
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