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Nine Must Reads for the CRE Industry (April 17, 2021)

Some office owners are investing in a new wireless option that provides more speed and security, reports the Commercial Observer. The NMHC released its annual ranking of the top owners and managers of apartments. These are among today’s must reads from around the commercial real estate industry.

  1. Commercial Real Estate Appears to Embrace CBRS Post-COVID “As commercial landlords battle for tenants in an oversupplied, post-pandemic office market, tech and building amenities may become key differentiators. A newly available wireless option called CBRS (Citizens Broadband Radio Service), which offers increased speed and security, may become the latest marquee offering for owners seeking top tenants.” (Commercial Observer)
  2. ‘One-thirtieth’ of the way back: Small businesses see theme park reopenings jumpstarting California’s recovery “However, a full recovery will be slow. Particularly, as these parks are forced to limit capacity and can only admit guests who already reside within the state. While bookings in April and May are strong, Afram said he doesn’t foresee his business making a full recovery until the second quarter of 2022.” (CNBC)
  3. 2021 NMHC 50 “The National Multifamily Housing Council's authoritative ranking of the nation's Top 50 Apartment Owners and Top 50 Managers as well as the Top 25 Developers, Top 25 Builders and Top 10 Syndicators.” (NMHC)
  4. Will Pent Up Demand for Weddings Help Hotels Recover? “Nearly half of all couples that had planned a wedding in 2020 either postponed the entire wedding until 2021 or later, or had a small ceremony, but put off the reception to a later date, according to a recent survey by The Knot. In addition, as many as one-third of couples that did hold a wedding had a smaller reception and plan to hold a second, larger ceremony — perhaps a first-anniversary celebration? — in the months ahead.” (Nareit)
  5. U.S. housing starts race to 15-year high; building permits rise moderately “U.S. homebuilding surged to nearly a 15-year high in March, but soaring lumber prices amid supply constraints could limit builders' capacity to boost production and ease a shortage of homes that is threatening to slow housing market momentum.” (Reuters)
  6. Top Retail Locations Are Opening Up To A Whole New Breed Of Tenants “Consumers are aching to get back out and spend in places that aren’t grocery stores or pharmacies, but things will look very different when they return to the local mall or retail district. The coronavirus pandemic took out thousands of outlets, so many shoppers will find out their once-favorite places don’t exist. That doesn’t mean they will find empty storefronts.” (Bisnow)
  7. How AI is affecting commercial real estate now and what to expect in near future “As agents and business owners want to optimize their operations, the use of additional CRMs or software for transactions has become more popular. There’s nothing strange here, as these tools can optimize effectiveness by allowing you to arrange a one-stop place where you would seamlessly manage your leads and clients. With AI entering the real estate market and integrating these tools, they can open completely new horizons.” (Multibriefs: Exclusive)
  8. Kroger Unveils State-of-the-Art Fulfillment Center “Nearly three years after teaming with Ocado Group, a global grocery e-commerce technology company, America’s largest supermarket retailer Kroger Co. has launched its first automated Customer Fulfillment Center near Cincinnati.” (Commercial Property Executive)
  9. How a Legendary New York Hotel Became a Battleground “Even as the pandemic decimates the city’s economy, closing scores of hotels, restaurants and stores, and leaving tens of thousands of New Yorkers unable to pay their rent, the 12-story Chelsea continues to exist in a world unto itself, one that seems to host a seemingly endless cage match where the building’s roughly 50 remaining tenants spar with one another or with the landlord who, in turn, battles with the city.” (The New York Times)
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