- What the $24.6 Billion Kroger-Albertsons Merger Could Mean for Groceries “The acquisition, aimed in part to take on Walmart, comes as record inflation continues to squeeze people’s wallets and as regulators try to rein in the power of giant corporations. That leaves a number of questions about the potentially industry-shifting deal. Here are answers to a few of them.” (The New York Times)
- America’s Red-Hot Warehouse Market Shows Signs of Cooling “Industrial real-estate developers and researchers caution that demand remains strong compared with before the pandemic but that developers are taking a more careful approach toward new projects as borrowing costs rise and freight shipping volumes pull back.” (The Wall Street Journal)
- U.S. Retail Sales Unchanged; Consumers Showing Resilience “U.S. retail sales were unexpectedly flat in September as households cut back on purchases of motor vehicles and other big-ticket items like electronics and appliances amid stubbornly high inflation and rapidly rising interest rates.” (Reuters)
- Office subleases pile up in LA as tenants rethink needs “Two and a half years into the pandemic, Los Angeles leasing brokers say they have yet to see a meaningful shift in the city’s office market. Few if any large employers are requiring workers to come back, and sublease space continues to pile up.” (The Real Deal)
- Trump's secret, ugly breakup with Deutsche Bank is revealed in new allegations by NY's attorney general “Since Trump left office last year, the Frankfurt-based international bank — which has lent Trump far more than any other financial institution — has been steadily enforcing a ‘managed exit,’ as James' filing calls it, from a lucrative relationship with the former president stretching back to the 1990s.” (Insider)
- Execs At CRE Investment Firm Arrested, Charged With Running $650M Ponzi Scheme “The U.S. Attorney's Office in New Jersey has charged NRIA founder and former President Rey Grabato and former executive Thomas Nicholas Salzano with 18 counts, including securities fraud, wire fraud and conspiracy to commit wire and securities fraud, the Department of Justice announced Thursday.” (Bisnow)
- Why the Return-to-Office Plan Remains a Challenge “Interestingly, despite various news reports in early and mid-2022 about bosses and employees clashing over return-to-work policies, the BOMA survey found that both groups are largely in alignment about preferred hybrid arrangements. Only around 15 percent of both groups want full-time remote work. More leaders than employees want a full-time return to the office, but not by much (28 to 24 percent). The plurality of respondents seem to prefer meeting three to four days per week (33 to 37 percent).” (Now Associations)
- NYC retail leases reach ‘turning point’ as tourists, office workers return “Activity was especially visible in the Grand Central, Flatiron and Union Square areas, according to CBRE, which saw 68,000 square feet and 56,000 square feet of new deals and renewals, respectively.” (New York Post)
- New twist in $2B drama between Silverstein, City Council “What has changed in the past two months is that Mayor Eric Adams has started using his bully pulpit to call out people who block housing development, and Council Speaker Adrienne Adams publicly asserted that her chamber will not exacerbate the housing crisis by unreasonably rejecting projects.” (The Real Deal)
- CRE Hot Spot Sees Activity Begin To Fizzle As Recession Concerns Mount “For months, industry stakeholders dismissed claims that economic headwinds like rising interest rates and inflation could counteract historic momentum in the DFW market. But things took a turn in Q3, and seemingly resilient asset classes are beginning to weaken as broader state and national indicators head downward.” (Bisnow)
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