What I'm Reading On Demand: Pop-up distribution centers are becoming a thing as the pandemic forced retailers and e-commerce platforms to quickly and cost-effectively respond to localized demand surges in their supply chains. Chain Store Age Cream Rises to the Top: For years, international investors favored office buildings when it...
April 9th – Gravedancer
What I'm Reading Gravedancer: Amazon is buying up distressed shopping malls and turning them into fulfillment centers, often ruffling the feathers of neighbors - who would prefer to see mixed use redevelopment - in the process. NBC News Culling the Herd: Mall vacancies are increasing at their fastest pace on...
January 20th – Coming Into Focus
What I'm Reading Coming Into Focus: With COVID-19's resurgence, the early days of the Biden Administration will likely have a heavy focus on health and economic stabilization with an emphasis on infrastructure as well. As a result, it is less likely that proposals to narrow or eliminate 1031 exchanges will...
December 21st – Temporary Move?
What I’m Reading Temporary Solution: The number of renters seeking short term (less than 6 month) lease arrangements when moving to new cities is way up this year. This suggests that the move away from urban markets may be more temporary than thought. Apartment List Sweet Spot: Pent up demand, healthy...
December 14th – Unlocked
What I’m Reading Unlocked: Increased adoption of remote work has enabled high earners to move to lower tax states like never before. At some point high tax cities and states are going to have to acknowledge that the conditions that allowed them to increase rates – namely the requirement of proximity...
December 10th – Downdraft
What I’m Reading Downdraft: The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 75.4 percent of apartment households made a full or partial rent payment by December 6. While that is a whopping 780 basis point drop from 2019, it should be noted that December 5th and 6th both fell...
December 9th – Balancing Act
One Big Thing California’s eviction moratorium is scheduled to expire in early February. A new assembly bill is seeking to extend it through the end of 2021. Concurrently another assembly bill is attempting to establish a framework for dispersing rental relief. (h/t Steve Sims) Connect Media Two comments here: While I’m...
December 7th – Behind the Curve
What I’m Reading Behind the Curve: As expected, eCommerce orders surged to previously unseen levels this Black Friday and Cyber Monday. It got to the point that UPS put limits on pickups at several large retailers in an effort to not overwhelm their systems, despite knowing that this was coming. Wall Street...
December 4th – Strings Attached
What I’m Reading Strings Attached: CMBS borrowers that were granted initial forbearance in Q2 2020 are requesting another round of debt relief from servicers. However, even if granted this relief is likely to come with more stringent parameters such as additional equity contributions and personal recourse. Those who refuse or don’t...
December 2nd – The End is in Sight
What I’m Reading The End is in Sight: The Federal Reserve has told banks that they should stop writing contracts using LIBOR by the end of 2021, after which the rate no longer will be published. The current plan is that LIBOR will be fully phased out by June 30, 2023. ...