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12 Must Reads for the CRE Industry Today (Oct. 31, 2020)

Some New York City companies are offering extra incentives to get workers to return to the office, according to The New York Times. Restaurants and retailers face new restrictions as new virus cases mount, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.

  1. These Are the Perks Companies Use to Get Workers Back to Their Offices “Free lunch. Discounted parking. Learning pods for children. Some New York City companies are offering incentives to workers who are required to return to the office.” (The New York Times)
  2. Private Equity Pays £473m to Join the Warehouse Party “Blackstone has completed the largest warehouse investment purchase on record in Britain as demand is fuelled by the rise of online shopping.” (The Times)
  3. Pandemic Brings New Restrictions on Restaurants and Retailers as Demand Is Rising “As coronavirus cases rise across much of the country, restaurants and retailers are contending again with new restrictions and staffing challenges as demand rises for dining out and holiday shopping gets under way.” (Wall Street Journal)
  4. Walmart Pulls Guns, Ammo Displays in U.S. Stores, Citing Civil Unrest “The retail giant, which sells firearms in about half of its 4,700 U.S. stores, said customers can still purchase guns and ammunition upon request even though they are no longer on display.” (Wall Street Journal)
  5. What Prop 15 Means to California Hotel Owners “Hotel owners could finally see a balance of property taxes across the state if Prop 15 passes this election. They could also see substantial increases.” (Hospitality Net)
  6. PGIM Continues Buying Spree With $275M Deal “The company acquired a recently completed 2.2 million-square-foot industrial portfolio in New Jersey.” (Commercial Property Executive)
  7. Amazon Reports Huge Q3 Earnings “Amazon reported huge third quarter earnings, and is on track to expand its warehouse and transportation capacity by 50 percent.” (The Real Deal)
  8. CBRE Income Falls Nearly 10% in Q3 2020 “CBRE income fell nearly 10% in the third quarter of 2020 as large office tenants put leasing decisions on hold.” (The Real Deal)
  9. 2,515-Unit Housing Proposal in S.F.’s Fillmore Is One of City’s Largest Ever “A 1973 housing cooperative in San Francisco’s Fillmore district could become one of the city’s largest housing developments ever.” (San Francisco Chronicle)
  10. New Welltower CEO Commits to Strategic Direction, His Biggest Concern Eases “Welltower, the nation’s largest owner of senior housing properties, will not be changing its strategic direction under its recently named CEO, Shankh Mitra.” (Senior Housing News)
  11. Knotel Cuts More Staff and Plans to Give Back Even More of Its Portfolio “Flexible workspace provider Knotel laid off more staff today and plans to give back even more of its portfolio.” (Commercial Observer)
  12. Red Sox Follow Other Baseball Teams Into The Field Of Neighborhood Development “Fenway Sports Group's partnership with WS Development is the latest in a series of teams around the country taking an active role in development.” (Bisnow)
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