- Amazon Nixes or Delays Opening Almost 50 Warehouses “Nine of the 49 facilities are located in California, including two in Southern California and five in the Bay Area. Amazon is still moving forward with a 4.1 million-square-foot lease for what will be its largest warehouse in the nation, located in Southern California’s Inland Empire.” (Commercial Observer)
- Atlanta’s Record $62 Million Crowdfunding Deal Raises Red Flags With Some Investors “Securities attorneys say it is difficult to identify bright-line rules in terms of what must be reported to crowdfunding investors. The Securities and Exchange Commission says that companies issuing securities must communicate any material information that reasonable investors would factor into their decision-making calculus. As the broker dealer, CrowdStreet is also obligated to provide material disclosures, attorneys say.” (The Wall Street Journal)
- Architecture Billings Index slows but remains healthy “The AIA Architecture Billings Index (ABI) score for July was 51.0. While this score is down from June’s score of 53.2, it still indicates stable business conditions for architecture firms (any score above 50 indicates an increase in billings from the prior month). Also in July, both the new project inquiries and design contracts indexes moderated from June but remained strong with scores of 56.1 and 52.9 respectively.” (American Institute of Architects)
- Third-Party Logistics Providers Fueled Bulk Activity at Midyear “Third-party logistics and packaging companies (3PLs) remained the top occupier of bulk industrial space at midyear, and market share for the industry increased to 31.4%, up over the 29.9% of all bulk space transacted one year ago. 3PLs, who offer outsourced logistics and warehousing services for retailers and wholesalers, remain the top occupier of industrial space for a variety of factors including cost savings for retailers and wholesalers and difficulty finding labor.” (Colliers Knowledge Leader)
- These 183 housing markets could soon see home prices fall 20%, Moody’s says “This week, Zandi let Fortune know that Moody’s Analytics was downgrading its initial forecast. Over the coming year, Zandi now predicts U.S. house prices will shift somewhere between 0% to -5%. Heading into June, Moody’s Analytics expected U.S. house prices to remain unchanged over the coming year.” (Fortune)
- Renters pay big fees every time they apply for apartments. California could change that “Assembly Bill 2559, which the California Senate approved Monday, seeks to relieve renters of some of the costs for credit and background checks, as other states have done. It would allow renters to purchase reusable credit reports instead of paying for new ones each time they apply for an apartment.” (Los Angeles Times)
- Why Student Housing Is a Strong Recession Investment “There are a few reasons why investing in student housing property is recession-proof. One reason is it is very lowly correlated with the overall economy. Because the student housing demand is predominately based on age, it doesn’t matter if the economy is booming or going through a recession.” (Multi-Housing News)
- How Poag Shopping Centers’ deal with JLL will work “The culmination of that effort was a deal that will have some of JLL’s open-air development professionals going to work at Poag Shopping Centers. Poag’s leasing and property management people, meanwhile, will now be based within the JLL organization. The deal gives JLL the opportunity to manage new properties through sub-contracts with Poag without having to acquire them.” (Chain Store Age)
- Lyft Plans to Ditch 45% of Its US Office Space “A spokesperson for Lyft said it decided to drop the space after it implemented a permanent ‘fully flexible’ work policy in March that lets employees work wherever they want and saw occupancy in its offices decline. As part of the plan, an entire floor or a portion of the offices would be put up on the market, but the sublease space will remain separated from Lyft workers.” (Commercial Observer)
- Retailers Scrambling to Stow Inventories Are Turning to Transport Equipment “The tactic is aimed at keeping supply chains nimble, experts say, and allowing companies to put off potentially costly commitments to new storage capacity amid uncertainty in the U.S. economy and sharp changes in consumer buying patterns.” (The Wall Street Journal)
- Third Terminal On The Way At Port Houston As Supply Chain Reshuffle Sends Growth Soaring “June marked Port Houston’s fifth month this year of double-digit growth over 2021, which was itself a record year for container volume, the organization announced earlier this month. Through June, Port Houston handled just under 2 million twenty-foot equivalent units, or TEUs, an 18% increase over the first half of last year.” (Bisnow)
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