Las Vegas AaronP/Bauer-Griffin/GC Images

10 Must Reads for the CRE Industry Today (Sept. 23, 2021)

ICSC is planning a December conference in Las Vegas, but surging COVID cases nationally have dimmed enthusiasm within the industry, The Real Deal reported. The Wall Street Journal previews Amazon’s plans for its next steps in physical stores. These are among today’s must reads from around the commercial real estate industry.

  1. Covid surge dims enthusiasm for ICSC Vegas conference “The December conference is usually a highlight of the year, along with being great for business. But The Real Deal found mixed reactions about attending from those who would normally be enthusiastic regulars at the event.” (The Real Deal)
  2. Inside Amazon’s Department Store Plans: High-Tech Dressing Rooms, Its Own Apparel Brands “Once there, customers could ask for more items using a touch screen, which might be capable of recommending additional clothing based on the pieces shoppers liked. The rooms could use sliding doors for associates to bring more clothes without seeing shoppers, the people said. Robots or other forms of automation could eventually be deployed in the stores, one of the people said.” (The Wall Street Journal)
  3. Architecture billings continue to increase “The ABI score for August was 55.6, up from July’s score of 54.6. Any score above 50 indicates an increase in billings from the prior month. During August, scoring for both the new project inquiries and design contracts moderated slightly but remained in positive territory, posting scores of 64.7 and 56.6 respectively.” (The American Institute of Architects)
  4. Reshoring Surges As Supply Chain Snarls Live On “The top industrial sectors reshoring jobs in 2021 include transportation equipment, chemicals, and computer and electronic parts, Reshoring Initiative reports. Other important reshoring industries are medical equipment, electrical equipment and other machinery.” (Bisnow)
  5. Crow Holdings lands $2.3 billion real estate fund “The investment fund plans to target primarily industrial and multifamily real estate, as well as manufactured housing, convenience and gas stores, self-storage and student housing.” (The Dallas Morning News)
  6. Eric Adams Wants to Turn Distressed NYC Hotels Into Supportive Housing “The Democratic nominee for mayor laid out his plan Monday to convert scores of defunct and underused hotels, primarily located in the outer boroughs, into 25,000 units of permanent affordable housing, noting that it would be cheaper to fix up hotels than build apartments from scratch.” (Commercial Observer)
  7. Google says it won’t claim NYC tax breaks “Google is eligible for the Industrial and Commercial Abatement Program, a tax benefit related to the renovation of a building, which was already underway during Google’s lease. Oxford Properties previously kicked off the application process for the project, which will be abandoned.” (The Real Deal)
  8. Economics of Warby Parker: Why It Sees Physical Retail as Key to Growth “Warby Parker was one of the original direct-to-consumer brands, but now, the eyeglass-maker’s sales are split about evenly between its more than 140 brick-and-mortar locations and its online store. WSJ’s Charity Scott explains why this split is Warby Parker’s secret sauce.” (The Wall Street Journal)
  9. Macerich sells Tucson center to fuel its town center strategy with $100 million “With this deal, the Santa Monica, Calif.-based developer has used its strategy of disposing of non-core assets to generate more than $200 million of liquidity during the first three quarters of 2021. In March, it sold 95% of Paradise Valley Mall in Phoenix for $95 million.” (Chain Store Age)
  10. New York's Rockefeller Center Wants to Build a Rooftop Ride That Lets You Recreate the Historic Ironworkers Photo “Tishman Speyer Properties, a real estate firm that’s been redeveloping the property for several decades now, wants to build a new rooftop ride on 30 Rock’s 69th floor observation deck called the “Lunch Atop a Skyscraper Experience” that will give tourists a chance to snap more believable selfies of themselves perched high above the city on a metal girder.” (Gizmodo)
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.