The Sinreich Group

Attorneys at Law

(212) 317-1131

The Sinreich Group is a New York City based real estate law firm that represents public and private sector clients in connection with the acquisition, development, leasing, financing, repositioning and disposition of real estate throughout the country.

Filtering by Category: Real Estate Industry News

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.

A New Kind of Sports Arena Emerges for Professional Gamers

Fueling the seemingly insatiable appetite for experiential real estate, a new type of entertainment venue is emerging: esports arenas. Esports, short for electronic sports, a.k.a. video games, is a burgeoning industry with leagues, tournaments and professional level competitions that are attracting hundreds of millions of global, online viewers. In keeping with the retail industry’s embrace of omni-channel strategies integrating virtual and brick-and-mortar sales platforms, esports which began as a virtual experience, is testing brick-and-mortar venues where professional gamers can compete in front of thousands of fans. Dedicated esports arenas are scattered throughout Asia and the migration to the U.S. has begun with arenas planned for Philadelphia, Winter Park, FL and Arlington, TX. Learn more

Commercial Real Estate Owners Pool Funds to Transform Communities

Going one big step beyond business improvement districts, the concept of community improvement districts (CIDs) took hold in Georgia in the mid-1980’s after statewide enabling legislation was passed. The first CID developed in a growing suburban submarket of Atlanta to facilitate $200M of improved transportation infrastructure. Through the CID, local business owners got the project off the ground by self-funding the initial investment to make it “shovel ready,” which in turn attracted the additional funding needed to make the project a reality. Since the late 1980’s, $1.5B in assessments by 31 CIDs throughout metro Atlanta have leveraged $5B in public infrastructure funding. Learn more

Time Out Markets Go Global

Magazine publisher Time Out launched the first Time Out Market in Lisbon Portugal in 2014. Billed as the world’s first food and cultural market, Time Out Lisbon combined food with entertainment and cultural venues including a curated mix of restaurants and kiosks, a cooking school and a 900-person entertainment venue. In 2017, 3.6M people visited, making it one of the city’s biggest attractions. This year, Time Out Markets are scheduled to open in Miami, New York City, Boston, Chicago and Montreal, with Prague and London scheduled for 2021. Learn more

Small Town Success Fuels Strategy for National Expansion

 Casey’s General Stores, a $4.6B public company, combines convenience and food in 2,100 locations across 16 states. Selling gas, convenience items found in small town general stores and freshly made food, Casey’s is the 4th largest convenience store chain and the 5th largest pizza chain in the U.S. Nearly 60% of its stores operate in towns with populations of 5,000 or less and its business model focuses on familiarity with its customers. Recognizing the need for an integrated omni-channel presence, Casey’s has created a virtual platform to support its stores and is continuing to expand with 80 stores in the pipeline, half of which are under construction. Learn more

Drafting the Pre-Nup: Use Clauses and Exit Strategies in Retail Leases

 Please join Ellen Sinreich and the International Council of Shopping Centers at the 2019 Law Conference in San Diego on October 25, 2019 for this workshop that will explore the undeniable marriage between use restrictions for retail tenants and the exit strategies they rely on for under-performing stores. Learn more

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.

U.S. Commercial Real Estate Valued at $14-$17 Trillion

According to NAREIT, based on Co-Star data, there is almost 71 billion square feet of commercial real estate in the U.S. valued at $14.4 - $17 trillion. Roughly one third of this value is generated by real estate located in gateway cities: New York, L.A., San Francisco, Washington D.C., Chicago, Altanta and Boston. About half is in the 47 next largest markets. Health care is the priciest at $884 per square foot, followed by hospitality at $617, office at $218 and retail at $179. Learn more

Brick-and-Mortar Continues to Dominate Retail Sales

When it comes to the biggest retailers based on sales, Walmart comes in 1st with just under $388 billion in 2018 sales generated in large part at its 5,263 stores. Next is Amazon, which generated just under $121 billion in 2018 sales, primarily online. Number 3 is grocery retailer Kroger, which generated over $119 billion at its 3,035 stores. Costco, Walgreens and Home Depot were in the 4th, 5th and 6th spots. Interestingly, these top 6 retailers are comprised of generalists and niche players and the lion's share of their 2018 revenue was generated as a result of brick-and-mortar vs online sales.

Athleisure Retailer Lululemon Continues to Thrive

Lululemon Athletica, which offers athleisure apparel from an omni-channel platform that includes 440 stores and a robust online presence, enjoyed a 16% increase in same store sales in 2018 and announced plans to expand its brick-and-mortar footprint in 2019 with 4 different prototype stores, including a 25,000 sf flagship in Chicago with yoga studios, meditation spaces and food and beverage offerings, temporary pop-up stores, and 3,000 sf and 5,500 sf shops. Learn more

Real Estate as a Service vs an Asset Class Across Property Types

As diverse types of real estate ranging from multi-family to office and retail, continue to incorporate hospitality amenities at an accelerating rate, real estate is evolving from an asset class to a service, according to recent PERE article about The Hotelization of Real Estate. Key characteristics of these amenitized properties include the flexibility of short term commitments, minimal upfront investment and a trade off of space for convenience, service and experience. Learn more

Technology Designed to Enhance Productivity

The key to increasing productivity has often been the subject of heated debate and drives many of the office design decisions that developers, owners and occupants face. Technological innovation may hold some answers according to Edge Technologies, which is equipping both new and existing buildings with sensors and lights integrated in prefabricated, modular smart ceiling panels that can provide granular information on air quality, temperature, noise levels and occupancy. The ability to measure and manage these metrics,which are qualities specified by the International WELL Building Institute, can enhance the well-being and comfort of occupants, and thus, theoretically at least, lead to increased productivity. Learn more

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.

Making Real Estate Real - Keys to Successful Place Making

In a recent article in Urban Land Magazine about the importance of authenticity when it comes to place making, the author focused on the following principles for infusing projects with the ingredients that will attract residents, guests, tenants and customers across generations: let nature lead; create shared experiences, embrace art, inspire total immersion; keep it local; be true to tradition; cultivate co-creation; keep wild things wild; think small; speak through storytellers; perfect the packaging; play with food; harness the power of myth; add live music; and put down roots. Learn more

Inside Walmart's Intelligent Retail Lab

Walmart has transformed its Levittown, NY neighborhood market store into an artificial intelligence (AI) testing lab for technologies that could transform its brick-and-mortar presence. This 50,000 square foot store is filled with AI enabled cameras, interactive displays and a data center. Walmart plans to start with realistic, practical applications designed to solve problems such as the need for better inventory control and more efficient restocking of shelves as well as making sure shopping carts and open registers are available as needed. Learn more

Construction Innovation Improves the Bottom Line

A recent multi-family development in Atlanta employed a new design/build system for light-gauge structural steel construction named Prescient that resulted in a 20-25% reduction in overall project costs as well as a 5 month shorter construction period. The materials and construction methodology that embody the Prescient system enabled the developer to add four more floors of height than would have been possible with competing structural systems, lock in hard pricing earlier and reduce cost contingencies that would otherwise have been required. Learn more

States Embrace Marketplace Fairness

One year ago this month the Supreme Court overturned the 26 year precedent that allowed sellers without a physical presence to sell their wares tax free to residents in states that otherwise required the collection of sales tax. Since then 42 of the 45 states with sales taxes have passed legislation or enacted regulations requiring so-called 'remote' sellers to collect sales tax from online purchasers. The majority of these states require sales tax collection only after a seller has reached a threshold level of online revenues or number of sales transactions. Learn more

The “Hotelification” of Real Estate

During this recent ULI New York panel discussion moderated by Ellen Sinreich, Managing Principal of The Sinreich Group, panelists Keneth A. Himmel, President & CEO of Related Urban, Ryan Simonetti, Co-Founder & CEO of Convene, Craig Deitelzweig, President & CEO of Marx Realty and Dave Barry, President of Ironstate Development described how they are incorporating hospitality amenities into retail, residential and office properties throughout the country as a means of differentiating their properties and increasing the bottom line. Learn more

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.

Urban Land Institute (ULI) Spring Meeting

I joined thousands of real estate professionals in Nashville recently for ULI’s Spring Meeting. Keynote speakers included Thomas L. Friedman, New York Times columnist and the recipient of three Pulitzer Prizes; Kathleen Hays, global economics and policy editor for Bloomberg Television and Bloomberg Radio; and Jon Meacham, Pulitzer Prize winner and best selling author of biographies of Presidents Andrew Jackson and George H.W. Bush, who stressed that the American experience has always been and continues to be “a role of the dice.” Learn more

ULI Forecast Shows Continued Growth Over Next Three Years

According to the 15th annual ULI Real Estate Economic Forecast, which is based on the median forecasts from 45 economists/analysts at 33 major real estate firms, the U.S. economy is expected to continue expanding through 2021. Commercial real estate prices are projected to grow at moderately decreasing rates, from 5% in 2019 to 3.7% in 2020 and 2.8% in 2021. Transaction volume, which was $562B in 2018, is expected to slowly decrease from 2018 rates to $535B in 2019 and $480B in 2021. Learn more

Proptech Start Up May Unlock $15B in Annual Rental Income

$15B in rental income that otherwise gets lost every year could be captured as a result of proptech startup Nova Credit, which has developed a means of accessing foreign credit histories for recent immigrants that might not otherwise be able to lease apartments in the U.S. According to Constance Freedman, founder and managing partner of venture capital firm Moderne Ventures, proptech startups such as Nova Credit; Dwelo, a platform for connecting and managing smart devices in apartment communities; and ICON, which has developed a 3-D-printing process for small houses, have the potential to unlock significant real estate value and transform the way real estate business is done. Learn more

What Draws 100 New Residents A Day To Nashville

When Nashville’s civic leaders were asked what draws its 100 new residents a day, they stressed the significant cultural presence of their creative class of musicians and other artisans; public investment in a walkable downtown core including the new Music City convention center, the Country Music Hall of Fame and Bridgestone Arena; and the city’s record of productive public/private partnerships, the most recent of which resulted in Amazon’s decision to bring 5,000 jobs to Nashville. Learn more

What Does Amazon’s Departure Mean for the Future of NYC?

Please join Ellen Sinreich and ULI’s NY District Council for a lively debate about how New York City should wage its battle for relevance on the world stage in order to attract talent and economic development while continuing to innovate so it can adapt to the way people live and work. Our panelists will consider whether large scale projects like Hudson Yards and Amazon HQ2 will continue to be possible given increasingly vocal NIMBY activity and whether changes in the City’s approval processes are necessary for it to remain competitive. Learn more

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.

Retail Landlord Testing Omni-Channel Shopping Centers

Following in the footsteps of retailers whose success is linked to omni-channel strategies that meld brick-and-mortar with online commerce, Simon Property Group, one of the world's largest retail property owners, is testing an online shopping platform called SPO (Shop Premium Outlets). Seeking to leverage Simon's powerful customer base of 100M people who make 2B visits per year to its properties, SPO will include 2,000 brands and over 300,000 products in an effort to drive incremental traffic and sales to retailers with brick-and-mortar stores in Simon's outlet centers. Learn more

Minneapolis/St. Paul Tops 2019 Multi-Family Market List

According to a forecast by Marcus & Millichap, Minneapolis/St. Paul will be the strongest market for multi-family rental properties in 2019, followed by San Diego, New York City, Los Angeles and Seattle. But young adults between 20 and 34 years old, the demographic group that is driving residential rental demand across the country, are facing a dilemma. While they are enjoying historically high employment rates, they are finding themselves increasingly priced out of the home ownership market as the disparity between monthly rental and mortgage payments continues to widen. Learn more

Investment In Real Estate Tech Down 23% in 2018

According to the data and event platform CREtech, a total of $9.2B was invested in proptech (short for property technology) companies in 2018, down from $12.6B in 2017. The reasons cited for the downturn include a maturing market, savvier investors and anticipation of an economic downturn. Large investments in 2018 included the $2B SoftBank investment in WeWork (down from $4B in 2017), a $1.8B investment in Lianjia, a Chinese real estate brokerage company and a $400M investment in Opendoor, an online platform for single family home sales. Learn more

Energy Star Certified Buildings Reach Critical Mass

The U.S. Environmental Protection Agency estimates that its Energy Star method for scoring the energy efficiency of buildings is being used in 44B square feet of floor space, which represents about half of all the commercial real estate in the U.S. As a result, nearly 35,000 properties representing 5B square feet of space have earned the EPA's Energy Star certification. In 2018, Los Angeles had the most Energy Star certified buildings (716), followed by Washington, D.C (661), Dallas (467), Atlanta (441) and New York (434). Learn more

Anatomy of a Co-Working Deal: What You Need to Know

Please join Ellen Sinreich and her co-panelists on May 1st in New York City for a lively discussion of the leasing, design and construction issues that both landlords and tenants must consider when structuring co-working deals. While the "space-as-a-service" office sector is in high demand, determining where, when and how to set up shop is laced with legal implications that will dictate the success, profitability and viability of these deals. Learn more

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.

The Open Floor Plan Debate Continues

Real estate representatives from Google, LinkedIn and Mathworks recently came together in New York City to discuss the merits and challenges of the open floor plan for office space. Google and LinkedIn are enthusiastic proponents, while Mathworks, a global tech company founded in 1984, is a staunch supporter of private offices. All three acknowledged that it's difficult to measure productivity and thus hard to know whether their floor plan preferences actually help achieve that desired result.

Thousands of Retail Stores Slated to Open in 2019

According to Shopping Centers Today, based on research by Coresight Research, over 2,000 new retail stores are slated to open in the U.S. in 2019. These stores are primarily value oriented, with some cosmetics thrown in, and will include 975 Dollar General stores, 350 Dollar Tree stores, 130 Aldi value grocery stores, 100 Ross Dress for Less stores, 80 Ulta Beauty cosmetics stores, 35 Sephora cosmetics stores, and 60 stores by TJX Companies, which will open T.J.Maxx and Marshalls stores.

But Store Closures Show No Signs of Abating

Notwithstanding the 2019 U.S. expansion plans of value-oriented and cosmetics retailers, projected 2019 U.S. store closures will far exceed openings based on research by Coresight. So far this year, U.S. retailers have announced 4,810 store closures, up 23% from the number of 2018 store closures announced as of this date last year. These closures are the result of bankruptcy filings by Payless Shoe Source (2,100 stores), Gymboree (540 stores); discounter Shopko (251 stores) and apparel retailer Charlotte Russe (94 stores); and sagging sales at the Gap, J.C. Penney and Victoria's Secret. Learn more

Co-Living Picks Up Steam In NYC

The sharing economy knows no bounds and multi-family real estate in New York City is now enjoying a new 'typology' of housing: co-living. Described by some as dorms for adults, 10 different providers now have NYC projects, and while the details vary, in essence co-living means living with strangers. As with Uber and Airbnb, there are some regulatory hurdles, but New York City's Department of Housing Preservation and Development, via its ShareNYC Request for Information, is exploring how co-living may satisfy unmet housing needs in NYC. Learn more

The Anatomy of A Co-Working Deal: What You Need to Know

Please join Ellen Sinreich and her co-panelists on May 1st in New York City for a lively discussion of the leasing, design and construction issues that both landlords and tenants must consider when structuring co-working deals. While the "space-as-a-service" office sector is in high demand, determining where, when and how to set up shop is laced with legal implications that will dictate the success, profitability and viability of these deals. Learn more

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.

The Sharing Economy Impacts on Real Estate

The sharing economy has had a significant impact on the way real estate is used, managed, purchased, sold, leased and financed. From Airbnb to Uber, from co-working to co-living, from pop-up hotels to pop-up stores, from crowd funding to crowd sourcing, there seems to be no limit to the myriad ways in which tradition has been and will continue to be upended. To illustrate this point, consider the following: WeWork is now the largest private sector office tenant in NYC with over 7M square feet and a market valuation of $47B. Airbnb has over 150M users and is active in over 190 countries.

Employers Enter the Housing Market

Much has been said about the shortage of affordable housing at all income levels throughout the U.S. In the Bay Area alone, 750,000 new jobs have been created since 2008 and only 130,000 new housing units have been developed. This has prompted employers ranging from Microsoft and Kaiser Permanente, to the Aspen Skiing Company and the independent lettuce grower Tanimura & Antle, based in Salinas California, to take matters into their own hands. Solutions range from Microsoft's pledge to invest $500M in middle and low income housing in the Seattle area to Tanimura & Antle's development of an affordable employee-only facility that houses hundreds of its seasonal workers. Learn more

Amazon Expands Brick-and-Mortar Retail Footprint

In addition to its brick-and-mortar bookstores, 4-Star stores, cashier-less convenience stores, and Whole Foods, Amazon announced that it will open a new supermarket chain with dozens of grocery stores in several major U.S. cities, including San Francisco, Seattle, Chicago, Philadelphia and Washington, D.C. The first of these grocery stores is scheduled to open in Los Angeles before the end of the year. Once seen as a threat to retail landlords, Amazon is now a source of credit-worthy, stable retail tenants. Learn more

Transforming Industrial Into Mixed Use

An 80-acre former industrial park in suburban Atlanta is being transformed into one of the city's largest mixed-use communities. The multi-year, multi-phase master plan includes 350,000 square feet of retail, 500,000 square feet of office space, 500 homes, 200 hotel rooms and 13 acres of open space. The site's owner purchased the first parcel of land at the site over 70 years ago to house 3 industrial tenants, but realized a decade ago that the area was ripe for redevelopment into a live-work-play community. Learn more

Co-Living in New York City

Please join Ellen Sinreich and ULI NY for a panel discussion on the new models of co-living that companies are providing in New York City. This program will focus on different approaches that co-living providers are offering in terms of physical structure, social programming, amenities and technology. Panelists will discuss what does and doesn’t work, how these projects are being financed and deal structures. Learn more

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

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.

Shopping Centers Embrace Co-Working Office Tenants

Much has been said about the ongoing, and often painful, transformation of brick-and-mortar retail as existing properties struggle to stay relevant. One of the solutions that is being tested throughout the country is the location of co-working office tenants in shopping centers. The Sinreich Group has been instrumental in structuring a number of these transactions, and although these deals can be likened to fitting a square peg in a round hole, the initial results are trending in a positive direction. Learn more

Cities Around the World Face Housing Affordability Crises

According to a global housing affordability monitor created by Knight Frank, the gap between housing prices and global income hit $790B in 2018 as housing became less affordable in most of the world's big cities. The cities with the least affordable housing in 2018 were Amsterdam, Auckland, Hong Kong, Los Angeles, San Francisco, Sydney, Toronto and Vancouver. Cities that bucked the growing disparity trend included New York, Moscow, Singapore and Paris. Learn more

8M SF of Retail Real Estate is now 11M SF of Industrial

According to CBRE, over 20 former shopping centers or big box stores in the U.S. have been, or are in the process of being, transformed into industrial warehouses. Since 2016, 9 conversions have been completed, 5 are under construction and 8 are in the planning stages. The area with the most retail-to-industrial redevelopment is the Upper Midwest, which has suffered as a result of demographic shifts to other parts of the country. Learn more

Brookfield’s Latest Fund Significantly Exceeds Target

Brookfield announced that its latest real estate investment fund closed last week with $15B in equity commitments, exceeding its $10B fundraising goal. The fund has spent almost $10B on 10 transactions including the $6.8B privatization of Forest City and the $1.1B ground lease of 666 Fifth Ave in Manhattan. Prior to these transactions, Brookfield privatized Rouse Properties and General Growth, both of which owned national retail portfolios. Learn more

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

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.

Walls in Motion: A Potential Office Space Solution

As the office space debate between open floor plans and private offices continues, movable walls may be the simple solution that appeals to those on both sides of this issue. As modern offices continue to experiment with designs that improve productivity and encourage creativity, demountable walls that enable multiple reconfigurations as space demands change, which are common throughout Europe, are gaining in popularity in the U.S. Learn more

Bracing For A Real Estate Downturn

Despite strong consumer confidence, lower unemployment, reduced tax rates and strong net absorption across property types and geographic markets, some real estate owners and investors are positioning their companies for a downturn. Strategies range from accepting lower returns, re-evaluating risk-reward requirements, focusing on niche markets, such as student and senior housing, and building up dry powder (cash) reserves. Learn more

Tech Dominates Office Leasing Nationally

According to Cushman & Wakefield, the technology sector accounted for 34.4% of all office leasing in 2018, which translated into low vacancy rates in tech-driven markets. As a result, 29 office markets enjoyed vacancy rates lower than 10%, the highest number of sub-10% vacancy rate markets since 2000. Leading the way were Puget Sound-Eastside Seattle with a 6.2% vacancy rate, San Francisco: 6.4%, Midtown South Manhattan: 7.2%; Charlotte, NC: 7.6% and Raleigh/Durham, NC: 7.7%. Learn more

Retail Landlords Partner with Ride Sharing Companies

Retail landlords including Simon, Taubman, Vestar and Macerich have entered into agreements with ride sharing companies Uber and Lyft that provide for amenity laden pick up and drop off locations within shopping centers, revenue sharing, promotional rates for riders and the sharing of ridership data. Cedar Realty Trust and Uber have gone one step further with an 8,200 square foot Greenlight Hub at River Park Center in Washington D.C., which serves as a central support location for Uber drivers and prospective drivers. Learn more

What to Expect In 2019 — Join Us for ULI NY Real Estate Outlook 2019

Please join Ellen Sinreich and ULI New York for the annual Real Estate Outlook and presentation of Emerging Trends in Real Estate on January 29th at TheTimesCenter in New York City. Hear from industry veterans and development visionaries on where to place your bets in 2019 and key insights into the forces that are shaping the real estate business in the New York metro region. Learn more

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.

HAPPY NEW YEAR! What’s In Store for Real Estate in 2019

As we go to press for our first 2019 Bite Size Breaking News post, we’re keeping an eye on real estate opportunities and challenges as a result of the following: the widely predicted economic slowdown, new real estate technology tools, the co-working revolution, the transformation of brick-and-mortar retail, the proliferation of co-living facilities, cyber security risks, the acceptance of autonomous transportation modalities, and the continued growth of e-commerce.

Agrihoods: A New Community Focus Takes Root

Agrihoods are communities whose focal points are a working farm or community garden. In keeping with a growing emphasis on creating buildings and communities that contribute to health and wellness, agrihoods are gaining in popularity with both developers and residents. According ULI’s new report Agrihoods: Cultivating Best Practices, eight areas — land, food, finance, programming, communication, housing and design, people and partnerships — present strategies for developing and operating successful agrihoods. Learn more

A New Tool for Evaluating Public-Private Partnerships

The American Society of Civil Engineers estimates that in addition to a projected $1.88 trillion investment by state and local governments in public infrastructure between 2016 and 2025, an additional $1.4 trillion will be required to complete needed infrastructure improvements. To help public sector participants determine whether to access this additional capital through public-private partnerships, a research team at the Harvard Kennedy School of Government has created an interactive web-based tool, The Decision Tree, based on experiential input and interviews with public and private sector purveyors. Learn more

ULI NY Real Estate Outlook 2019

Please join Ellen Sinreich and ULI New York for the annual Real Estate Outlook and presentation of Emerging Trends in Real Estate on January 29th at TheTimesCenter in New York City. Hear from industry veterans and development visionaries on where to place your bets in 2019 and key insights into the forces that are shaping the real estate business in the New York metro region. Learn more

 2019 Real Estate New Year’s Resolutions To Consider 

Digitize, using paper is so 2018: Take advantage of technology based opportunities and solutions but beware of cyber risks in every facet of the real estate business including construction, leasing, investing and operations. Take advantage of constantly changing laws: stay on top of the changing legal landscape so you don’t miss out on new opportunities such as Opportunity Zones. Expand your comfort zone and learn something new: the markets are evolving at breakneck speed: get in on the opportunities that autonomous cars offer by monetizing your underutilized parking lot with town center amenities.

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.

Pop-Up Hospitality Provider Picks Up Residential Slack

Pop-up hospitality provider WhyHotel operates temporary hotel accommodations in vacant apartments during the lease-up phase of new residential developments. With 3 current locations in Arlington, Baltimore and D.C, WhyHotel just raised $10M and intends to open at six other D.C. area locations before expanding to other U.S. markets. Learn more

34 States Enact Sales Tax Legislation Targeting Out of State Retailers

Following the Supreme Court South Dakota v. Wayfair decision in June of this year, thirty four states will have enacted laws by January 2019 enabling them to collect sales tax from out-of-state retailers. Most of these states are enacting triggering thresholds similar to those of South Dakota, where online sales exceeding $100,000 or in excess of 200 transactions push the sellers over the sales tax threshold. Learn more

Brookfield to Convert GGP Malls into Mixed-Use Mini Cities

Having acquired GGP’s 125 mall portfolio for $14.8B, Brookfield has announced that it will redevelop 100 of those properties into what it calls mixed-use “mini cities” by adding office and residential uses and will sell the remaining 25. Learn more

Clicks to Bricks Retail Will Continue to Accelerate

 According to How E-Commerce Brands Get Physical published by JLL, the expansion plans of 100 of the top online retailers will include the opening of 850 physical stores over the next five years. These retailers include Allbirds, Casper and Adore Me. While some major e-commerce brands like Bonobos and M. Gemi operate showroom locations without inventory, that accounts for only 15.1% of clicks-to-bricks stores. JLL found that more than half of the clicks-to-bricks retailers start with a pop-up store in New York City and more than one third then opened their first permanent location there too. Learn more

ULI New York Real Estate Outlook 2019

Please join Ellen Sinreich and ULI New York for the annual Real Estate Outlook and presentation of Emerging Trends in Real Estate on January 29th at TheTimesCenter in New York City. Hear from industry veterans and development visionaries on where to place your bets in 2019 and key insights into the forces that are shaping the real estate business in the New York metro region. Register here

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.

The WeWork Takeover — Losing Money & Gobbling Up Space

WeWork reported that it lost $1.22B during the first nine months of 2018, in spite of which its self-reported valuation increased to $42B as the result of a recent $3B investment from SoftBank. According to WeWork, it is the largest tenant in New York, London and Washington with 335 locations covering 15.5M square feet in 24 countries. By the end of 2018, WeWork projects that 400,000 individuals will be using its office space. Learn more

How Starbucks Affects Single Family Home Prices

According to the brokerage information website Zillow, as reported by McKinsey, the price of homes in Boston within a quarter of a mile of a Starbucks increased by more than 171% between 1997 and 2014, 45% more than all homes in Boston. Learn more

Bricks vs Clicks: Capturing 2018 Holiday Shopping Dollars

According to the International Council of Shopping Center’s research, 90% of holiday shoppers plan to make purchases from brick-and-mortar stores, and that rises to 95% if online purchases from brick-and-mortar retailers are included. Shoppers in general reported that they plan to spend an average of $706 on holiday gifts, while Millennials reported an average intended spend of $613, Gen-X’ers reported $896 and Baby Boomers reported $697. Learn more

Amazon’s HQ2 Locations — The Urbanization of Close-In Suburbs

Amazon’s choice of Long Island City, New York and ‘National Landing’, Virginia for its HQ2 headquarters locations is consistent with one of the trends noted in Emerging Trends in Real Estate 2019. Namely, that suburbs in close proximity to urban areas are themselves morphing into urban locations that combine housing, office, and retail uses with open space. Both Long Island City and National Landing share these characteristics, as well as close proximity to one of Amazon CEO Jeff Bezos’ homes. Learn more

U.S. Office Vacancy Stable in 2018 Q3

According to Urban Land Magazine and based on the most recent Savills Studley Report: National Office Sector, the 2018 Q3 vacancy rate for office space in the United States of 18.1% was unchanged from the prior quarter. San Francisco had the lowest vacancy rate at 9%, then Boston/Suffolk County at 9.7%, NYC at 11.6% and Austin at 12.8%. Learn more

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.

Q3 Retail Real Estate Results Up in Every Category

According to CBRE, retail real estate experienced increased sales, rents and occupancy levels in the 3rd quarter of 2018 across every shopping center category. Total retail sales increased by 6.1% year-over-year in Q3, net asking rents increased by 4.3% and the overall retail real estate availability rate (whether leased or not) fell slightly to 6.4%. Learn more

Walmart Town Centers

According to a recent presentation by Walmart V.P. of U.S. Realty Operations, L.B. Johnson, Walmart is planning to transform its parking lots into dynamic “town centers” offering a mix of uses including restaurants, shops, parks, entertainment and residential. Dubbed Walmart Town Centers, these projects will provide pedestrian connectivity from Walmart stores to ‘experiential zones’ designed hand in hand with local communities. The first of these developments is slated to occur at the Walmart Supercenter in Loveland, Colo. Learn more

Climate Change Poses Significant Risk to Institutional Real Estate

According to a recent study by Heitman and Four Twenty Seven, institutional real estate worth $360B is located in the top 20% of metro areas vulnerable to sea level rise. Gateway cities located in these areas, including New York, San Francisco, Miami, Ft. Lauderdale and Honolulu, continue to attract significant allocations of institutional real estate investment notwithstanding their exposure to climate change risks. Learn more

Opportunity Zone Regulations Issued

The Treasury Department and the IRS recently issued proposed regulations and guidance for the new Opportunity Zone tax incentives. These incentives were created by the 2017 Tax Cuts and Jobs Act to spur investment distressed communities throughout the U.S. Under a nomination process completed in June 2018, 8,761 qualified Opportunity Zones were designated. Investors in these zones will be able to defer tax on capital gains generated by these investments until December 31, 2026. Learn more

Cyber Security & Real Estate: What You Need to Know

The rise of intelligent buildings and the proliferation of technology throughout the real estate industry allow increasingly sophisticated cyber criminals greater opportunities to attack. Join Ellen Sinreich and ULI NY on November 7th for a conversation with leading industry experts about how to protect your real estate without crippling your ability to function. Register here

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.

Urban Land Institute (ULI) Fall Meeting

Thousands of real estate professionals gathered in Boston recently for ULI's Fall Meeting. Keynote speakers included Scott Galloway, NYU marketing professor and best selling author The Four: The Hidden DNA of Amazon, Apple, Facebook and Google and Harvard social psychologist Amy Cuddy who stressed that power is about confidence rather than arrogance. Learn more

Talent & Economic Diversity Connect 2019 Top Real Estate Markets

According to the 2019 Emerging Trends in Real Estate report, which was presented at the ULI Fall Meeting, the top real estate markets in 2019 will be Dallas/Fort Worth, Brooklyn, Raleigh/Durham, Orlando, and Nashville. In addition to talented labor pools and high business start up rates, the report cites the urban, industrial appeal of Brooklyn, the friendly business climate and cost structure of Orlando, and the projected growth of science and technology jobs in Raleigh/Durham and Nashville as key attractions. Learn more

Real Estate Technology Attracts $12.5B Investment

$12.5B has been invested in real estate technology over the past two years according to Brad Greiwe, managing partner of Fifth Wall, a realtech venture capital firm. Greiwe predicted, at the ULI Fall Meeting, that the real estate industry will undergo a radical transformation as a result of a multitude of technological innovations, including autonomous bulldozers, drones and other ‘robotic’ devices, as well as blockchain and other digital tokens that will facilitate fractional real estate ownership. Learn more

Affordable Housing for the Middle Class — A Missing Piece

The lack of affordable housing for the middle class is one of the biggest opportunities for home builders and multi-family developers according to a panel of industry executives who spoke at the ULI Fall Meeting. Skyrocketing land and construction costs have pushed developers to focus on the the top tier of the market. As a result, only 20% of today's new homes are affordable by 50% of the population, down from 2002 when 40% of new homes were affordable by 50% of the population. Learn more

Cyber Security & Real Estate: What You Need to Know

The rise of intelligent buildings and the proliferation of technology throughout the real estate industry allow increasingly sophisticated cyber criminals greater opportunities to attack. Join Ellen Sinreich and ULI NY on November 7th for a conversation with leading industry experts about how to protect your real estate without crippling your ability to function. Learn more and register

Bite Size Breaking News

Welcome to the inaugural issue of 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.

Brick-and-Mortar Retail Captures Back to School Sales

According to Shopping Centers Today, brick-and-mortar stores captured 74% of all school supplies purchased this year, and 88% of all back-to-school shoppers made a purchase in a physical retail store. Learn more

Commercial Real Estate Prices to Increase 5% Annually

45 economists/analysts at 32 leading real estate organizations surveyed for the semi-annual ULI Real Estate Economic Forecast project a 5% increase in commercial real estate prices per year over the next 3 years and a "modest" increase nationally in vacancy rates. Learn more

Cyber Security Creates Capital Opportunity

In 2017 1.4M square feet of space was leased nationally to cyber security firms, up from 800,000 square feet in 2016. 75% of this space was in the San Francisco Bay Area, with Washington, D.C. a distant second at just under 10% of the total, followed by Detroit, Dallas and New York City. Learn more

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