• Articles for Today

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    14 Must Reads for the CRE Industry Today (May 13, 2020)

    The New York Times looks at the future of shopping. Seniors are holding off on special housing due to a rise in telemedicine, reports the Wall Street Journal. These are among today’s must reads from around the commercial real estate industry.
     
    1. Will Shopping Ever Be the Same? “As luxury department stores prepare to reopen their doors, global retailers share their plans — and fears — for the future of shopping.” (The New York Times)
    2. PPP Changes Trip Up Small Businesses “On-the-fly rule changes are bedeviling small-business owners who got government-backed loans meant to keep them afloat during the coronavirus shutdown.” (Wall Street Journal, subscription required)
    3. Senior-Housing Communities Face Higher Vacancy Rates Amid Coronavirus “As telemedicine use rises during pandemic, seniors have new reason to hold off on special housing.” (Wall Street Journal, subscription required)
    4. Burger King Parent Reopens Restaurants with New Social-Distancing and Other Safety Protocols “Restaurant Brands International Inc. Chief Executive Jose Cil said Burger King, Tim Horton and Popeyes restaurants are reopening with a range of public-safety measures designed to protect staff and customers from COVID-19.” (MarketWatch)
    5. US Grocery Costs Jump the Most in 46 years, Led by Rising Prices for Meat and Eggs “Prices Americans paid for eggs, meat, cereal and milk shot higher in April as people flocked to grocery stores to stock up on food amid government lockdowns designed to slow the spread of Covid-19.” (CNBC)
    6. Office Sharing Startup WeWork Paid 80% of April and May Rent but Wants to Pay it All, CEO Says “WeWork CEO Sandeep Mathrani told CNBC on Tuesday the company has paid its rent in over 80% of its locations in April and May, as the coronavirus outbreak swept the globe.” (CNBC)
    7. Where To Find Real Estate Investment Capital Right Now “With the commercial real estate industry in a relative standstill right now, lenders have become increasingly cautious, particularly because rent collections are uncertain in the short term in every asset class.” (Forbes)
    8. Coronavirus Dents Multifamily Development “New supply expectations fall this year, but future construction impact hinges on the downturn’s severity and length.” (Multi-Housing News)
    9. As Death Toll in Nursing Homes Climbs, Calls to Redesign Them Grow “Advocates are challenging layouts that are efficient and cost effective but that may allow the coronavirus to spread faster.” (The New York Times)
    10. Steak n Shake Permanently Closes 57 Restaurants Amid Dismal First Quarter “Indianapolis-based Steak n Shake, already struggling before the COVID-19 pandemic, closed 57 restaurants in the first quarter—a stretch when it posted a nearly $11 million operating loss.” (Indianapolis Business Journal)
    11. Amazon Built a Roving Robot Covered in UV Light Bulbs that Could Kill the Coronavirus in Warehouses and Whole Foods Stores “Amazon built robot that is designed to kill the novel coronavirus with ultraviolet light.” (Business Insider)
    12. CBRE : Commercial Real Estate Lending Markets Enter Period of Price Discovery “As risks to the U.S. economy from the COVID-19 pandemic emerged in mid-March, commercial real estate lending markets began to navigate a period of price discovery, according to the latest research from CBRE.” (CRE Herald)
    13. Hyatt to Lay Off 1,300 Employees as Pandemic Cripples Travel “Hyatt Hotels Corp (H.N) said late Monday it would lay off 1,300 people globally as it tries to cope with the coronavirus crisis, which has virtually halted global travel by keeping people indoors.” (Reuters)
    14. 20 Years of Decisions to Close Hospitals Have ‘Come Home to Roost’ “A once-in-a-century pathogen overwhelmed New York medical centers this spring and at least part of the blame lies in decisions state and health care leaders made to eliminate 20,000 hospital beds over the past two decades.” (Commercial Observer)