Eight Must Reads for the CRE Industry Today (Nov. 29, 2021)

Bisnow found uneven progress in achieving diversity and inclusion goals at CRE firms. The Wall Street Journal analyzes Amazon’s massive buildup of its own logistics capabilities. These are among today’s must reads from around the commercial real estate industry.

  1. New Analysis Shows Uneven Progress Toward Diversity At CRE’s Biggest Firms “In November 2020, Bisnow found that at 67 of the largest commercial real estate firms, there were 93 people of color working in the C-suite or highest echelon of management. A year later, that number has grown to 104, or 12.9% of all C-suite roles held. Last year, 14% of those companies’ public board of director seats were filled by people of color. That number increased to 16.5% in a year.” (Bisnow)
  2. Amazon Builds Out Network to Speed Delivery, Handle Holiday Crunch “Amazon blanketed the country with more than 450 new facilities used to store, sort and ship items, according to logistics consultant MWPVL International, doubling down on a logistics empire that aims to deliver items in one day or less, and increasingly to do so without the help of third-party shippers.” (The Wall Street Journal)
  3. The Disappearing Mall “What follows is an analysis of the mall sector across America, identifying the pain points — and opportunities for redevelopment — that are most pronounced.” (Buffalo Business First)
  4. Ex-Newmark brokers appeal 1-year ban after judge upholds noncompete “Denver-based brokers Terrance Hunt, Christopher Cowan and Shane Ozment — who specialize in multifamily sales — are appealing an injunction issued by a New York judge in July that prevents the trio from providing brokerage services in Colorado for one year.” (The Real Deal)
  5. Why Companies Should Consider the ‘Hubquarters’ Model “Now, employers are looking at innovative workplace models that incorporate the new lessons  learned during the pandemic. These models include improved versions of prior workplace trends. Hub and spoke, for example, is a popular model used by many companies that includes one central office and smaller satellite offices.” (Commercial Observer)
  6. Growing Old in High Style “The Watermark is one of several luxury assisted-living homes that have sprung up in the last few years, especially in places like New York City with its many affluent retirees with upmarket tastes and cosmopolitan demands. Others include the Sunrise at East 56th and Inspīr Carnegie Hill, a purpose-built hi-rise on the Upper East Side that opened last spring.” (The New York Times)
  7. Ghost Kitchens Are Proving to Be a Messy Business, as Reef Global Shows “In addition to the three fireball incidents, Reef has faced multiple citywide shutdowns over permitting and other regulatory violations, challenges connecting to local utilities, higher-than-expected costs and a labor shortage, said former executives and managers. Many former employees described the environment at Reef as chaotic.” (The Wall Street Journal)
  8. Sears, Kmart could be facing their last holiday shopping season “When the two historic brands merged in 2005, there were 3,500 stores nationwide. Now, however, you'll only find 21 full-line Sears stores left, and just six Kmart stores. Retail experts predict those numbers will be down to zero soon.” (KATU)
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