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Eight Must Reads for the CRE Industry Today (May 5, 2021)

The hospitality industry in Hawaii is seeing a return to life, reports the Wall Street Journal. Jamie Dimon expects to see people largely back in the office by early fall, according to CNBC. These are among today’s must reads from around the commercial real estate industry.

  1. U.S. Travelers Say ‘Aloha’ Again, Bringing Relief to Hawaiian Hotels “ Hawaii’s hospitality industry is slowly returning to life, belatedly joining the mainland’s rebound as the Covid-19 vaccine rollout and fewer travel restrictions are helping to fill the state’s restaurants and hotel beds. Waikiki Beach is crowded with surfers. Farther north, families with toddlers are playing on the shoreline at the Hilton Hawaiian Village Waikiki Beach Resort. Long lines form outside nearby restaurants and shaved-ice stores.” (Wall Street Journal)
  2. Millions of Renters Brace for a Post-Pandemic Ax “The pandemic crisis is finally winding down for much of the country, with both vaccinations and the economy surging. But the Covid-19 housing crisis hasn’t even hit yet, and Washington’s efforts to head it off have stalled. A federal moratorium on evictions is set to expire June 30, leaving millions of tenants facing long-term damage to their credit and the potential loss of their homes if they can’t scrape together more than a year’s worth of back rent.” (Politico)
  3. Suburban Homes and Retail Are the Budding New Office Hotspot “Real-estate companies are transforming suburban residences and retail spaces into offices, betting that the pandemic will increase demand for workspaces in these neighborhoods. With many Americans working at home and planning to continue even after the pandemic, some startups and landlords believe these employees will want a place to work beyond their living room. They are offering these workers a nearby alternative: furnished office space, bookable by the day or month and within walking distance from home.” (Wall Street Journal)
  4. Real Estate Has its First Green Building ETF. What’s Next? “The launch of the world’s first equities investment vehicle targeting property companies specializing and supporting green buildings is pointing the way for more sustainable investment platforms. Global investment manager Invesco has launched a green exchange traded fund (ETF) in New York at a time of increasing appetite for sustainable investments, with 77 percent of institutional investors planning to stop investing in non-ESG (Environment Social Governance) products by 2022, according to PwC.” (JLL)
  5. Property Managers Share Five Lessons of Pandemic Leasing “Even in the worst days of the coronavirus pandemic, property managers kept leasing apartments. Along the way, they have learned lessons on how to use technologies like virtual tours, self-guided tours, and even simple video calls to lease apartments to customers they often never meet in person. Long after the pandemic is over, property managers plan to keep using technologies that allow them to lease apartments from a distance.” (Multifamily Executive)
  6. The Future of Ghost Kitchens “Before the pandemic, Washington, DC-based real estate company Calvin Cafritz Enterprises had two culinary spaces totaling 8,500 square feet open at its mixed-use The Station at Riverdale Park property. The property, which sits in the Washington, DC suburb of Prince George’s County, MD, is home to a Whole Foods, apartments, townhomes and a slew of retailers, including a local brewery.” (
  7. Jamie Dimon, Fed Up with Zoom Calls and Remote Work, Says Commuting to Offices Will Make a Comeback “While he’s fine with the greater flexibility allowed by employees working from home part-time, that’s no substitute for being at the office, he said Tuesday during the Wall Street Journal CEO Council. ‘We want people back to work and my view is that sometime in September, October it will look just like it did before,’ Dimon said. ‘And everyone is going to be happy with it, and yes, the commute, you know people don’t like commuting, but so what.’” (CNBC)
  8. What the Empire State Building’s Switch to Wind Power Tells Us About Sustainability in NYC “The Empire State Building has become a shining symbol of sustainability in New York City — literally. At night, the lights that define the building’s skyline silhouette are powered exclusively by green energy. Given the landmark’s status as a global-recognized icon, its switch to sustainability is a clear sign of New York City’s quiet evolution into an eco-friendly hub for innovation.” (Forbes Real Estate Council)
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