Nine Must Reads for the CRE Industry Today (June 30, 2022)

Commercial Observer looks at the Real Estate Pride Council’s goals to enhance opportunities for the LGBTQ community in the industry. Democratic lawmakers held a hearing to look at institutional investors’ growing single-family home portfolios. These are among today’s must reads from around the commercial real estate industry.

  1. Real Estate Pride Council Launch Charts New Opportunities for LGBTQ in CRE “Sam Chandan launched the Real Estate Pride Council with the goal of enhancing networking opportunities for LGBTQ individuals in the commercial real estate profession, and he hopes the group can foster positive change for the industry.” (Commercial Observer)
  2. Institutional investors have bought hundreds of thousands of single-family homes, many in Black communities. Critics say it’s creating a ‘generation of renters’ “Democratic lawmakers are scrutinizing whether the American dream of a suburban home and white picket fence is being seized upon by large institutional investors, costing working people a shot at property ownership.”(Marketwatch)
  3. As Tech Takes Its Time, Other Industries Seek Deals In S.F. Office Market “As demand sputters slowly back to life, landlords are increasingly forced to offer incentives to get tenants to commit — albeit for shorter leases, with ever-increasing demands for flexibility and overall, less square footage leased.” (Bisnow)
  4. As Niagara Falls seeks to seize land through eminent domain, developer proposes $1.48B data center “After 25 years of essentially sitting on dozens of acres of prime land near downtown Niagara Falls, Milstein's Niagara Falls Redevelopment on Tuesday unveiled a $1.5 billion plan to create a technology and data center in the heart of the city.” (The Buffalo News)
  5. Industrial Real-Estate Developers Are Hot on Cold-Storage Warehouses “Nearly 3.3 million square feet of refrigerated warehouse space was under construction through the second quarter of this year nationwide without companies slated ahead of time to take up the sites, some 1,000% more than was built in 2019, according to a report by real-estate services firm CBRE released on Wednesday.” (The Wall Street Journal)
  6. The Benefits of Helping Renters Build Credit “One of the fastest ways for them to build that credit is to have their positive rent payments reported to the three major credit bureaus—Equifax, Experian and TransUnion—and property management companies can play a key role in building their renters’ credit profiles and scores.” (Multi-Housing News)
  7. Office Leasing Decisions Still On Pause As Tenant Demand Stagnates, Per New Report “The tours are a leading indicator of who is leasing space, and a signed lease can represent a five-to-10 year bet on personnel needs for an employer. With remote or hybrid work schedules still being hashed out, some employers aren't ready to make that bet, VTS CEO Nick Romito said.” (Bisnow)
  8. Rent stabilization: dysfunctional by design “Landlords and tenants finally agree on something: Rent stabilization is broken and needs reform. But they are ignoring a larger truth: Price controls for housing haven’t worked, aren’t working and never will work.” (The Real Deal)
  9. Grocery, Restaurant Executives See Inflation Altering Consumer Spending “As prices climb on restaurant menus and grocery-store shelves, some packaged-food makers see more Americans making meals at home to save money, while restaurant operators are changing their offerings to cope. U.S. consumers this year are dealing with the steepest food inflation in over 40 years, as well as concerns over a possible recession.” (The Wall Street Journal)
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