Today’s CRE Scoops – December 12, 2019

Westfield operates a mall at the World Trade Center complex in New York City. Credit: Pedro Szekely/Flickr

Next year, the commercial real estate industry is watching for spillover effects from five major political issues, Real Estate Roundtable CEO Jeff DeBoer and CBRE Americas Research Chairman Spencer Levy told Bisnow. Crucial topics to monitor include whether an infrastructure bill and China trade agreement gain traction, and how extensively rent control picks up speed nationally. Levy told Bisnow, “Rent control has chilled the market, certainly in New York and maybe to a lesser degree in California, from investors that want to go into markets, which is a terrible thing. You need money to continue to flow into markets if you want any affordable housing.” (Bisnow)

There’s no doubt that new technologies are transforming the real estate industry. The year ahead is poised to bring more market data transparency, workplace flexibility and new software tools to help agents work more efficiently. San Francisco-based tech investment firm Oak HC/FCT forecasts the total market cap of real estate tech companies to reach more than $200 billion by 2030. Oak HC/FT principal Allen Miller shares the companies on his radar in a column for TechCrunch. (TechCrunch)

Westfield is the latest mall owner to rope in digitally native companies to help refresh and bolster foot traffic within shopping center space. Westfield has partnered with Verishop, a digital curator and ecommerce platform, to create 14 retail concepts (either pop-up or full-store) to its leading centers. A phased roll-out of the Verishop-sourced concepts will continue through 2020. Established mall operators Simon and GGP have created similar arrangements with digital brands in their properties. (Retail Dive)

More News to Note:

WeWork Restructuring Begets Mixed Outcomes for Founders of Companies it Purchased

Investment Partners Taconic, Nuveen Reportedly Seeking $400M Construction Loan for Hudson Square Build

Starwood REIT Spends $320M for 4.1M-SF Industrial Portfolio


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