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Eight Must Reads for the CRE Industry Today (Dec. 9, 2021)

CRE firms are expecting to increase compensation in 2022, according to a report from Bisnow. McDonald’s is planning to offer $250 million in loans as a way to increase diversity among owners of its restaurants. These are among today’s must reads from around the commercial real estate industry.

  1. CRE Firms Look To Reset Compensation, Recruitment Plans As Talent War Rages On “More than 87% of real estate firms will offer merit increases in 2021, with an average raise of 3.4%, according to CEL & Associates CEO Christopher Lee, whose salary data and CRE compensation report are closely read by much of the industry. Amid a resurgent year for the industry, bonus realizations based on performance goals are projected at 90.5%, according to CEL, a big turnaround from last year, when they were expected to fall 20% to 30%.” (Bisnow)
  2. CoStar comes home to play “Notwithstanding that failed attempt, CoStar is determined to parlay its dominant position in commercial real estate intelligence into the residential sector.” (The Real Deal)
  3. McDonald’s to Back Diverse Restaurant Owners “The fast-food company has received criticism from some local lawmakers and former franchisees over racial matters. Last year, McDonald’s was sued by Black ex-owners, who accused the company of selling them subpar restaurants. The company’s approach caused the number of Black owners in the U.S. to fall, the owners alleged.” (The Wall Street Journal)
  4. Decarbonizing real estate: What’s here — and what’s hype “Last month, many of the global economy’s movers and shakers convened with heads of state and policymakers at the United Nations climate change conference, known as COP26. Pledges were made, speeches were given, and urgent statements about the need to tackle the climate crisis were issued. But did anything substantial emerge that the real estate industry — a leading contributor to climate change — can act upon?” (The Real Deal)
  5. Ahold Delhaize USA expands instant essentials delivery “These instant delivery services are fulfilled from more than 1,400 Ahold Delhaize banner locations across the country through Instacart’s Convenience Hub, an offering designed to streamline the convenience shopping experience for customers. Convenience Hub provides customers access to a range of essentials they need in as fast as 30 minutes.” (Chain Store Age)
  6. Force Majeure in 2022: What to Know for Commercial Leases “After considering these two key force majeure court decisions from 2021, we look ahead to next year. With pandemic lessons in mind, what terms are tenants and landlords negotiating in new deals to allocate the economic risk of uncontrollable business disruptions?” (Commercial Observer)
  7. Flood insurance costs rise in areas once deemed lower risk “Under a revamped federal flood insurance program rolled out this fall, millions of homeowners are set for rate hikes that officials say more accurately reflect a property’s risk. That includes the vast majority of the 1.7 million homeowners with relatively cheap policies in areas federal officials previously deemed low or moderate risk — and where coverage is voluntary.” (The Associated Press)
  8. Amazon launches program to grow opportunities for real estate developers of color “It also aims to lower the barriers these developers can face when bidding for affordable housing developments. The new initiative is part of the $2 billion Amazon Housing Equity Fund, a commitment to create and preserve 20,000 affordable homes for individuals and families earning moderate to low incomes in Amazon’s hometown communities.” (Chain Store Age)
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