Toys R Us sign Scott Olson/Getty Images

Eight Must Reads for the CRE Industry Today (Dec. 2, 2021)

Toys R Us is making its return and opening a flagship at American Dream later this month. A new survey finds that two-thirds of CRE firms expect to be partially or completely remote in the future. These are among today’s must reads from around the commercial real estate industry.

  1. Toys R Us is opening a flagship store at American Dream later this month, marking its return to malls “In addition to a variety of toy brands and gaming merchandise, WHP said the location will offer experiences for kids, including a two-story slide. It will also have a cafe and ice cream shop. The store will be located nearby the Nickelodeon Universe theme park and DreamWorks water park at the American Dream, adding it to a slate of experiential offerings at the property, which are in a separate wing from the retail stores.” (CNBC)
  2. Two-Thirds Of CRE Firms To Be 'Completely Or Partially Virtual' Going Forward “The survey, answered by more than 400 senior executives at large commercial real estate firms, found that two-thirds of respondents expect their companies to be partially or completely remote in the future, which would most acutely impact property operations and reporting positions.” (Bisnow)
  3. An $80 billion real estate company just named its first chief carbon officer. Here’s what he’ll do “Izzo’s job—likely the first such dedicated position in the real estate industry—is to find ways to improve building operations and energy efficiency and also to find less resource-intensive materials and construction processes to get those buildings built. He’s already begun working with an internal team to identify projects that can use lower-carbon materials like mass timber and concrete made with cement replacement.” (Fast Company)
  4. Blackstone buys logistics portfolio for $2.8B “The investment giant said in October it had marked a record-shattering third quarter — the best in its history — led by real estate investments, which grew to $230 billion, the highest percentage increase among Blackstone’s segments.” (The Real Deal)
  5. Chattanooga-based CBL Properties embraces suburban town center concept as shopping habits shift “While a bankruptcy for Chattanooga-based CBL followed late in 2020, the company spent a year restructuring and emerged on Nov. 1 from what Lebovitz termed ‘a journey.’ But with a court-approved exit plan, the attitude moving ahead is positive and officials are energized by a recovery in mall traffic, consumer spending and sales, he says.” (Chattanooga Times Free Press)
  6. AIG creates $1.5bn US multifamily investment platform with SWF “AIG Global Real Estate said the new venture has been seeded with a $690m portfolio consisting developed and owned by AIG. The portfolio consists of seven existing communities with 2,105 apartment units. AIG Global Real Estate will be responsible for the sourcing and management of the joint venture.” (IPE Real Assets)
  7. Farmers market-styled grocery store concept has big plans to expand “WhatsGood will open the first in a series of Chicago-based Farm Shops in the city’s Lincoln Park area on December 7. A small-footprint version of a farmer’s market, the store will feature locally sourced products and will offer one-hour local delivery to Chicago’s Northside. The company said it plans to open a WhatsGood Farm Shop in every neighborhood in Chicago and New England during the next two years.” (Chain Store Age)
  8. How to Incorporate Income-Producing Real Estate into a Financial Plan “Like traditional investments, real estate investments do appreciate. But owners of income-producing real estate must also factor net cash flow after expenses, depreciation, amortization, and taxes into their investment." (The Street)
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