- Fed Eyes Third Rate Cut, but Faces Questions Over What Comes Next “Federal Reserve officials are leaning toward cutting their benchmark interest rate by one-quarter percentage point to between 1.5% and 1.75% at the conclusion of their two-day meeting on Wednesday. The big question is how they frame what happens after that.” (Wall Street Journal, subscription required)
- WeWork Is in Early Stages of Forming Electronic-Gaming Arm “We Co., the beleaguered parent of WeWork, has been quietly building an electronic-gaming business.” (Bloomberg)
- Cannabis Open Houses Are Putting the High in High-End Real Estate “On a warm evening in September, guests gathered on the terrace of a roughly $9.5 million contemporary mansion on the market in the Hollywood Hills for an elaborate seven-course meal. In lieu of a wine-pairing for each course, they opted for a different kind of accompaniment—seven flavors of cannabis vape.” (Wall Street Journal, subscription required)
- The CEO of the Biggest Mall Owner in the US Says ‘Reaching the Bottom’ of Retail Bankruptcies “The CEO of the biggest mall owner in the U.S., Simon Property Group, says the retail industry looks to be “reaching the bottom” of a tumultuous wave of bankruptcies.” (CNBC)
- Good Investment Opportunity in Class-A New Builds “Value-add investment opportunities are becoming more challenging, and some investors that once focused solely on value-add investment are now looking at other segments of the market.” (GlobeSt.com)
- 10 Emerging Tech Cities to Watch “The tech industry continues to claim an increasingly larger of US office leasing activity, according to CBRE’s annual Tech-30 report, which measures the tech industry’s impact on office rents in the 30 tech markets in the US and Canada.” (GlobeSt.com)
- Is WeWork an Outlier, or Is Proptech Broken? “But where some see WeWork as a worrying sign of structural bloat that will result in a correction in startup valuations, others consider it an outlier that was primarily inflated by SoftBank Group, the Japanese conglomerate that gave WeWork its $47 billion valuation.” (Commercial Observer)
- Opportunity Zones Take Shape Despite Mixed Reviews “Skeptics of the Opportunity Zone program claim few deals are being done in the 8,700 designated census tracts beyond the “low-hanging-fruit” that was already in investors’ pipelines. But at the Connect Opportunity Zone conference in New York City last week, it was clear that community-minded investment is underway in these districts.” (Commercial Property Executive)
- Manhattan Trophy Office Rents Reach $101 Per Square Foot in 2019 “Despite picking up some steam in the third quarter of 2019, Manhattan office sales still fell short of 2018 values, according to a new report by Commercial Café and Yardi Matrix Data.” (World Property Journal)
- Office REITs Gauge the Risks and Rewards of Coworking “Office REITs are trying to achieve a balance in their approaches to coworking as they — and everyone else — awaits what increasingly feels like an inevitable market correction in the coworking sector, especially following WeWork’s early autumn implosion.” (Commercial Observer)
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