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10 Must Reads for the CRE Industry Today (Oct. 13, 2020)

Retailers brace for a sluggish holiday sales season, reports the Wall Street Journal. Owner of the sixth-largest cinema chain in the U.S. say it is months away from bankruptcy, reports CNBC. These are among today’s must reads from around the commercial real estate industry.

  1. An October Amazon Prime Day Opens a Remade Holiday Shopping Calendar “Retailers want the holiday buying season to hit full speed in October as they brace for a sluggish and unpredictable end to the shopping year.” (Wall Street Journal)
  2. Their Bosses Asked Them to Lead Diversity Reviews. Guess Why “When corporations try to belatedly address issues of diversity, equity and inclusion, they often drop the responsibility on their few Black employees.” (The New York Times)
  3. Florida Sees Signals of a Climate-Driven Housing Crisis “Home sales in areas most vulnerable to sea-level rise began falling around 2013, researchers found. Now, prices are following a similar downward path.” (The New York Times)
  4. Fourth-Generation Movie Theater Operator Says Chain Is Months from Bankruptcy “B&B Theatres, the sixth-largest cinema chain in the U.S., has been operating for nearly 100 years. Its owners say it is months away from bankruptcy.” (CNBC)
  5. How Airbnb Pulled Back From the Brink “Lessons from the home-sharing giant’s near-death experience: Focus on the core business, keep expenses low and listen to customers; “I did not know that I would make 10 years’ worth of decisions in 10 weeks,” its CEO said.” (Wall Street Journal)
  6. Columbia Property Trust Recaps $400M San Francisco Asset “The company retains a 55 percent stake in the office tower, while joint venture partner Allianz Real Estate contributed $180 million for a 45 percent ownership interest.” (Commercial Property Executive)
  7. San Jose Unveils New Plans for Google Megaproject “LendLease serves as development manager for the upcoming mixed-use project, which includes as much as 7.3 million square feet of office space.” (Commercial Property Executive)
  8. ‘Shutdown Is Literally Killing People’: Families of Isolated Nursing Home Residents Demand Compromise “Just as the virus has exposed chasms in American society around race and inequality, it has also sharpened the plight of many families with vulnerable members in care homes: denying them vital social contact when time is a rapidly vanishing possession.” (The Guardian)
  9. Port Authority, Out $3B, Has Waterfront Land to Sell “Port Authority of New York and New Jersey executive director Rick Cotton seeks $3 billion from Washington for AirTrain and other projects, but can sell 80 acres in Red Hook.” (The Real Deal)
  10. The Covid Effect On Real Estate: Why Good Deals Have Replaced Good Locations “In this post-pandemic world, the classic real estate motto of “location, location, location” is no longer what’s driving buyers. Now, it’s all about “deal, deal, deal” instead.” (Forbes)
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