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Seven Must Reads for the CRE Industry Today (Aug. 6, 2021)

President Biden’s eviction moratorium could face legality challenges at the Supreme Court, reports The Associated Press. The New York Times looks into whether the hybrid office model will disadvantage remote workers. These are among today’s must reads from around the commercial real estate industry.

  1. Biden’s New Eviction Moratorium Faces Legality Doubts “President Joe Biden may have averted a flood of evictions and solved a growing political problem when his administration reinstated a temporary ban on evictions because of the COVID-19 crisis. But he left his lawyers with legal arguments that even he acknowledges might not stand up in court. The new eviction moratorium announced Tuesday by the Centers for Disease Control and Prevention could run into opposition at the Supreme Court, where one justice in late June warned the administration not to act further without explicit congressional approval.” (The Associated Press)
  2. Lineage Logistics Acquires Hanson Logistics “Lineage Logistics LLC, of Irvine, Calif., has acquired Hanson Logistics, a leading Midwestern provider of temperature-controlled warehousing, Lineage announced Wednesday. The transaction’s dollar value was not disclosed. Lineage is the world’s largest REIT specializing in temperature-controlled facilities. Hanson is North America’s 12th-largest cold storage and logistics provider, according to the International Association of Refrigerated Warehousing.” (Commercial Property Executive)
  3. Mall Owner Macerich Beats Revenue, Earnings Estimates with Strong Q2 “Shopping mall owner says tenant sales are above pre-pandemic levels as it looks to further reduce its debt burden.” (The Real Deal)
  4. Will Remote Workers Get Left Behind in the Hybrid Office? “Though most evidence that remote workers are at a disadvantage is anecdotal, at least one study, led by researchers at Stanford University, suggests they are less likely to be promoted than their in-office peers. In the experiment, researchers randomly assigned workers at a large travel agency in Shanghai to work remotely or in the office for nine months. Though the remote workers were 13 percent more productive, putting in more hours and making more calls per minute, they were promoted about half as often as their in-office peers.” (The New York Times)
  5. Most Black Students Don’t Know About CRE. The Industry Is Trying to Fix That “‘We have a lot of making up to do.’” (Bisnow)
  6. Amazon Postpones Return to Office Until January 2022 “Amazon is postponing a return to the office for its corporate employees until early next year, becoming the latest tech company to do so amid a rise in Covid-19 cases due to the highly contagious delta variant. Corporate employees in the U.S. and some other countries will begin returning to the office beginning Jan. 3, 2022, the company confirmed to CNBC.” (CNBC)
  7. New York Auto Show Cancelled Due to Spreading COVID Delta Variant “Organizers of the New York International Auto Show on Wednesday canceled the event due to concerns about the coronavirus delta variant. The show was scheduled to open to the public on Aug. 20. It had been postponed since April of last year due to the global health crisis. It was the first time the show had been rescheduled since WWII.” (CNBC)
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