- Too many people think real estate is the best investment. One economist says that's powering the housing crisis. “In a Gallup poll of Americans last year, more than 40% of respondents chose real estate as the best long-term investment — picking homes over gold, stocks, and savings accounts. Not only did more people choose real estate than in the previous year, but it was also the largest rally behind one option on the list in the past 11 years.” (Insider)
- Amazon binge ends in hangover, halt on warehouse deals amid $4B loss “Amazon officially has too much industrial space –– a hangover from spending billions from 2020 and 2022 to double its fulfillment and distribution space across the country.” (The Real Deal)
- Everything’s a WeWork Now “But while WeWork has become a cautionary tale, office life in the US has quietly embraced several of its core tenets. Many workers who spent the last two years at home—a small portion of the overall labor force—are being called back to offices that look different from the ones they vacated in 2020, with fewer desks and more open spaces designed to foster collaboration.” (Wired)
- Tishman Speyer, Bellco JV raises $3bn for life-science real estate fund “A life-sciences real estate investment firm formed in 2019 by Tishman Speyer and Bellco Capital has raised $3bn (€2.85bn) to develop and buy properties globally. Breakthrough Properties said the amount raised by the Breakthrough Life Science Property Fund in direct and co-investment capital surpassed the fund’s initial $1.5bn target.” (IP&E Real Assets)
- Grocery-Anchored Retail Centers Boom Amid Investor Food Fight, New Appetite From Surprising Tenants “These centers, which bank on the foot traffic flowing out of, say, a Kroger or Albertsons and into surrounding boutiques and restaurants, can be much more than strip malls — and just the past several months illustrate the voraciousness of investor appetite.” (Bisnow)
- Conservation Tax-Break Deals Keep Flowing Despite IRS Crackdown “IRS officials had hoped to shut down the most aggressive operations in a mini-industry built around tax breaks. Instead, they are in a protracted wrestling match with deal promoters. Government scrutiny pushed out some deal makers, but that ceded the market to others, who set aside reserves for legal expenses and risks and bet on beating the IRS through litigation.” (The Wall Street Journal)
- Top Things These Celebrity Investors Have in Common With Real Estate Investors “Celebrity investors are known for helping launch start-ups, endorsing brands, and even When it comes to real estate investing, these stars have more in common with those big-name real estate investors than you’d expect. Here are some of the top celebrity investors and how they compare to big real estate investors.” (Celebs)
- Take a look at Google's latest New York campus, which features the city's largest rooftop park and panoramic views over Manhattan “Google opened a new campus for its New York staff on April 18. The new office space is situated on a pier which looks out over Manhattan and the Hudson River and features a large-scale rooftop park.” (Insider)
- Americans Are Showing Inflation Fatigue, and Some Companies See a Breaking Point “Companies that made everything from baby wipes to washing machines were able to raise prices without denting demand much. Now, some executives and analysts say that Americans’ buying power is being squeezed by inflation, which in March hit the highest annual rate since 1981.” (The Wall Street Journal)
- How Coworking Companies Like The Wing And Industrious Are Intersecting With Retail “Traditionally, the lines between each were indisputable as both landlords and governments set expectations on the use-cases of real estate. However, the world is developing omnichannel experiences. And those experiences require omnichannel real estate.” (Forbes)
- Lawmakers change strategy for legalizing NYC’s basement apartments “When Gov. Kathy Hochul rolled out her executive budget bills, one said localities “shall” create rules to allow accessory dwelling units on single-family lots. An uproar among Long Island lawmakers and residents forced her to remove the proposal from her budget.” (The Real Deal)
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