- Millennials Continue to Leave Big Cities “Large U.S. cities lost tens of thousands of millennial and younger Gen X residents last year, according to Census figures released Thursday that offer fresh signs of cooling urban growth.” (Wall Street Journal, subscription required)
- Malls Are Dying, But There’s A 3-Step Plan That Can Save Them “The mall game has become a split between the haves and the have-nots. Class A malls are thriving, while Class B and C malls are struggling. That is especially true of Class C malls.” (Forbes)
- Homeowners Inviting ‘Alexa’ Into Their Bathrooms, Smart Home Study, Pros Reveal “Americans are interested in technologies that make their bathrooms more relaxing, as well as enhancing their homes’ value, according to a new study published by the National Kitchen & Bath Association. Who are these individuals and what’s on their tech wish lists?” (Forbes)
- Why is Automation So Hard in Commercial Real Estate? “In 2016, Harvard Business Review released a study ranking how digitally advanced the different sectors of industry were. Real estate ranked below mining and just above agriculture and hunting.” (Commercial Observer)
- WeWork Halts New Leases in Bid to Cut Losses “WeWork is halting all new lease agreements with property owners as the company - which is bleeding money - tries to rapidly rein in its costs, according to people briefed on the matter.” (Fox Business)
- If WeWork's Model Doesn't Work, Some Office Owners Are in Trouble “The recent resignation of the company's CEO and retrenchment of WeWork's long-awaited IPO have sent shivers down the spines of office landlords around the country who have signed almost 11 million square feet of leases with the coworking company in the last year or so. If WeWork decides to reduce its footprint or winds up in default, office owners in Dallas and nationwide could find themselves struggling to fill suddenly vacant space.” (Dallas News)
- Has the US Has Lost its Allure for Foreign Investors? “Speakers during a global capital market and foreign capital breakout session during the CREW Network Convention Orlando agree that the US is still the most transparent market in the world and is still a safe haven for foreign capital.” (GlobeSt.com)
- Why Investment Volumes Are Trending Down This Year “Investment volumes overall are trending lower this year compared to 2018. second quarter sales volumes increased over the sluggish first quarter; however, overall, investment volumes are down over last year, according to a new report from Ten-X Commercial.” (GlobeSt.com)
- Is Legal Cannabis CRE’s Next Big Tenant? “With 10 states plus Washington, D.C., legalizing cannabis for recreational use and medical marijuana legal in another 23 states, the marijuana industry is providing an opportunity for those in the commercial real estate to dip their toes into something new. According to the National Institute for Cannabis Investors, legal cannabis sales are projected to grow from $10.8 billion in 2019 to nearly $100 billion in the next five years.” (Commercial Property Executive)
- S&P Cites Concerns WeWork Won't Be Able to Fund Growth Plan “Credit ratings agency S&P is raising concerns that WeWork won't be able to raise the money to fund its aggressive growth plans after the office-space company failed to drum up interest for a public offering of shares.” (Crain’s New York Business)
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