What I’m Reading Aaaaand Scene: The cameras are rolling and Hollywood’s film industry is slowly coming back to work, That is bringing intense demand for studio space, new interest from investors and higher rental rates. Commercial Observer Losing Hope: As the pandemic recession continues, many small and midsize U.S. banks find themselves buried...
September 14th – Opening Up
What I’m Reading Opening Up: The Securities and Exchange Commission modified its definition of “accredited investor: in August, changing who is allowed by law to invest in private securities offerings. The new definition is less restrictive, which will likely open up an opportunity for more investors to participate in private real...
September 11th – Rolling Over
September 10th – Can’t Get Out
Can’t Get Out: US imports from Asia in August jumped 34 percent from June, driven by ongoing strong demand for e-commerce fulfillment and personal protective equipment (PPE). Imports from China alone last month were up 32 percent from June. I’ve been skeptical about the whole re-shoring-due-to-COVID narrative (outside of perhaps...
September 4th – Hard Stop
What I’m Reading Hard Stop: The Centers for Disease Control and Prevention is using its quarantine authority to temporarily halt evictions in order to keep COVID-19 from spreading. The order is effective immediately and will run through the end of the year. People earning under $99,000 a year or couples earning...
September 3rd – Stocking Up
What I'm Reading Stocking Up: US retailers — burned by stock-outs in the second quarter as the retail inventories-to-sales ratio hit a 2020 low in June — are ramping up imports, sending a vast majority of their cargoes through Southern California to feed waves of e-commerce orders to avoid getting...
September 2nd – The Waiting Game
What I'm Reading Waiting Game: Although many tenants are not paying rent and many landlords are not paying their mortgages, the floodgates for distressed opportunities have not yet opened, largely because of eviction and foreclosure moratoriums. Deal flow will start once these moratoriums lift and the first shoe to drop...