Bite Size Breaking News
Welcome to Bite Size Breaking News. We post every other Monday by noon. Have lunch with The Sinreich Group and get the latest real estate news in easily digestible “bite size” portions.
Curating a Year Round Retail Experience
As the sharing economy continues to inject new life into under-utilized real estate assets, one recent example is Guesst, a technology platform for “pop-sharing” brick-and-mortar retail. Originally designed to pair complementary brands and online retailers with existing stores, we think pop-sharing is also a great way to shore up seasonal retailers during their off-seasons. For example bike stores, whose business is slow in the winter months, could team up with indoor golf, whose business is strongest in the winter months. Learn more
Another Tale of Two Cities
The sharp contrast between fierce opposition and widespread support makes the now defunct deal to bring Amazon to Long Island City an unfortunate example of the tale of two cities. In the end, fear of rising costs, increased density and gentrification, coupled with indignation about a deal made behind closed doors and subsidies for a wealthy, powerful company were enough to derail a rare, game-changing economic development opportunity that was hard-won after a protracted, intense competition among cities throughout the country.
Cannabis Retailer Makes its Way into Regional Malls
Simon Property Group, the largest owner of retail real estate in the U.S., announced that it has entered into an agreement with Green Growth Brands Inc. to open 108 stores in Simon properties that will sell personal care products that contain cannabidiol (CBD). CBD, one of two active ingredients in the cannabis plant, is a non-psychoactive compound that is believed to have medicinal qualities. While numerous states have legalized medical, and in some cases recreational, cannabis use, under federal law all such use is illegal except for products derived from hemp, a cannabis plant that contains almost no THC, the psychoactive compound most commonly associated with cannabis. Learn more
Understanding & Mitigating Climate Risk to Real Estate
Climate Risk and Real Estate Investment Decision-Making, a new report by the Urban Land Institute and Heitman, addresses the need for real estate investors to develop a greater understanding of the investment risks posed by the impacts of climate change. Strategies that are being increasingly used to build climate change risks into investment underwriting include: mapping physical risk, analyzing the cost of incorporating physical adaptation and mitigation measures into assets at risk and engaging with policy makers on local resilience strategies. Learn more
Google, LinkedIn & Mathworks: The Open Floor Plan Debate
Please join Ellen Sinreich and ULI NY for a lively debate on the merits of open floor plans for office space. Office space occupants including representatives from Google, LinkedIn and Mathworks will discuss the pro’s and con’s of both open and traditional floor plans and provide insight based on their efforts to optimize productivity and creativity. Learn more