Six Must Reads for the CRE Industry Today

1. Commercial Real Estate Deals Show July Improvement, But Recovery Seen More Than a Year Away “Commercial real estate fundamentals improved in July, but the pandemic continues to affect development projects and is likely to remain a significant challenge for more than a year, according to a COVID-19 impact report released Tuesday by the NAIOP Commercial Real Estate Development Association.” (Star Tribune)
2. Office Markets Under Pressure as Coronavirus Squeezes Cities “Urban office markets and other commercial real estate in major cities are experiencing their worst stretch in decades, upended by the pandemic, changes in work behavior and struggling city economies.” (Wall Street Journal, subscription required)
3. Florida’s Elder-Care Facilities Buckle as Covid-19 Deaths Climb “Experts warn that without the ability to test staff every time they arrive, there is no way to fully insulate the facilities.” (Wall Street Journal, subscription required)
4. HOPE Act Aims to Provide Assistance to Commercial Real Estate Market “The HOPE Act is intended to provide additional relief to the commercial real estate (“CRE”) market in the form of a preferred equity facility.” (Frost Brown Todd LLC)
5. The Retail Misery Story Likely Continued In Q2; Earnings Ahead “If retail sector investors have their sights set on surprise blowout Q2 earnings after recent blowout earnings from one online retailer—yes; that would be Amazon — they might be in for a sad and sorry disappointment.” (Benzinga)
6. Outdoor Waxing? Bay Area Beauticians Say They Have a Smarter Idea “A coalition of salons offering personal services in separated suites is lobbying Gov. Gavin Newsom to reconsider his July 13 order and allow beauticians to get back to work.” (San Francisco Chronicle)
7. NYC Restaurateurs Renew Calls for Rent Relief As End of Eviction Moratorium Looms “With the moratorium on evictions set to end August 20, there’s growing concern for restaurants’ survival.” (Eater)
8. Mixed-Use Could Pose Trouble for Apartments “While multifamily is in relatively good shape, one observer sees potential issues in Class C and mixed-use apartments.” (GlobeSt.com)
9. ‘It’s Going To Be A Reckoning’: Proptech Survey Finds Drop In Confidence From Startups, Investors “Despite the commercial real estate industry’s increased adoption of technology during the coronavirus pandemic, many proptech founders and investors have lost confidence in the industry’s strength.” (Bisnow)
10. Conde Nast Mulls Move Out of 1 World Trade Center “Conde Nast, which only finished moving into its HQ at One World Trade Center in 2014, is scouting midtown Manhattan for a potential new HQ.” (New York Post)

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