As the week ends we bring you our list of interesting CRE news articles collected through the week. This week we found a self-storage REIT thriving, buildings that when from falling apart to winning awards, luxury retail hitting a rough patch, and a lot more. Check out the 12 CRE news articles we knew we had to share with you for better industry insights:
1. House takes up Senate bill to trim excess real estate – A House committee has taken a key step toward helping the federal government shed millions of dollars in excess real estate, an elusive goal that has defied the House and Senate for years. (Washington Business Journal)
2. This Self-Storage REIT is a Wall Street Cash Cow – Even with 2016’s market tailspin, the REIT’s shares are doing better than most, dropping just 6% since January, the Wall Street Journal reports. (Bisnow)
3. The Steady Rise of Renting – The report examines growth in renting versus owning across the U.S., as well as the rise in rental housing prices and the growing housing burdens faced by renters between 2006 (two years prior to the economic crisis) and 2014. (CITYLAB)
4. 9 Award-Winning Adaptive Reuse Projects – From a crumbling old facade left vacant for years to a freshly polished living space that brings back a bit of America’s history, these developments prove how revamping an old building can literally turn around an entire neighborhood. (Multifamily Executive)
5. Next wave of store closings may hit luxury: Real estate pro – It isn’t every day you see a sign boasting 40 percent off in the window of a luxury shop. But as real estate executive Andy Graiser walked past one of Prada’s New York City boutiques a week before Christmas, that’s exactly what he encountered. (CNBC)
6. JLL’s Chart of the Week – JLL’s New Jersey Research team takes a weekly look at economic and market drivers to capture real-time trends and insights. (JLL)
7. City quadruples fines for serious construction violations following fatal crane collapse – Mayor Bill de Blasio and the city Department of Buildings Commissioner Rick Chandler announced stricter rules for construction sites Friday, including quadrupling fines for serious safety violations. (Crain’s)
8. America’s Senior Moment: The Most Rapidly Aging Cities – In the coming decades, the United States is going to look a lot greyer. By 2050, the number of Americans over 65 will almost double to 81.7 million, with their share of the overall population rising to 21 percent from roughly 15 percent now, according to Census projections. (Forbes)
9. From Ashes to Opportunity: The 8 Mile View on the Detroit Market – The revitalization of downtown Detroit shouldn’t be ignored when evaluating long-term commercial office investment opportunities. While the turn-around is still very much a work in progress, this market offers significant upside with low barriers to entry. (Colliers International Knowledge Leader)
10. 6 Outlooks on Atlanta Real Estate by 6 REITS – There are a number of views on the Atlanta real estate market. And most of them are very positive. A glimpse of this attitude has come in recent days during various REIT conference calls with analysts. (Bisnow – Atlanta)
11. Houston energy company expands in downtown tower – In the brunt of an unrelenting oil slump, one Houston-based midstream energy company is expanding its foothold in a downtown tower. (Houston Business Journal)
12. Ikea drops plans to build on Brooklyn site, southwest of Cleveland – The Swedish furniture giant quietly walked away from land in Brooklyn late last week, after more than a year spent studying the suburban Cleveland site. (cleveland.com)
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