business traveler Dana Hoff/The Image Bank/Getty Images

Seven Must Reads for the CRE Industry Today (Jan. 23, 2021)

Business travel may bounce back quickly once vaccinations have been implemented, predicts Walker & Dunlop CEO Willy Walker. Bisnow explores how vacant real estate sites could play a key role in expediting vaccine distribution. These are among today’s must reads from around the commercial real estate industry.

  1. Business travel will 'snap back' sooner than people think: real estate finance CEO “Traveling for work comprises the largest source of hotel revenue, which heavily relies on conference programming to buoy the business. Direct spending on business travel, including for meetings and events, reached $334.2 billion in 2019 and fell to $141 billion in 2020, according to the U.S. Travel Association. Meetings and conferences typically account for 38% of the total spending.” (Yahoo Finance)
  2. The Vaccine Rollout Has Been A Mess. Real Estate Can Help Fix It “In order to effectively inoculate enough of the population to reach herd immunity, the federal government must leverage existing supply chains while state and local governments should collaborate with real estate to utilize empty storefronts and offices as vaccination locations, logistics and health experts say.” (Bisnow)
  3. Blockchain Holds Potential For Commercial Real Estate “The development of blockchain-based smart contracts — self-executing software algorithms integrated into a blockchain with trigger actions based on predefined parameters — has made it possible for parties to automate the process of executing commercial transactions between counterparties in a more direct, trustworthy and efficient manner.” (Pillsbury Law)
  4. Exclusive: Walmart expands vaccinations in boost to U.S. COVID-19 program “This week and next, Walmart will start providing inoculations in Georgia, Indiana, Louisiana, Maryland, New Jersey, South Carolina and Texas as well as in Chicago and Puerto Rico, the spokeswoman said. The shots will only be available to specific populations decided by each state and only at a handful of stores in each state.” (Reuters)
  5. Amazon will open ‘pop-up’ vaccination site to serve thousands in Seattle “The one-day clinic will be open on Sunday with the goal of administering 2,000 vaccines to the public, a spokesman for Inslee told the Post. The clinic will distribute the vaccine to healthcare workers, first responders, and people 65 years and older.” (New York Post)
  6. SPACs Rescued Wall Street From the Covid Doldrums “The banks’ fourth-quarter results provide fresh evidence of the equity-underwriting hot streak, raising hopes that SPACs may continue to boost the banks’ results even as the overall economy shows signs of slowing down.” (The Wall Street Journal)
  7. The Effects Of Marijuana Legalization On American Real Estate “Real estate markets with fully legalized marijuana for recreational use may attract more homebuyers, including marijuana consumers, entrepreneurs and job seekers. With more marijuana stores opening up, the demand for labor is on the rise, and so is the need for homes. Increased property sales and higher rents will be the most significant payoffs.” (Forbes Real Estate Council)
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