NAR Economist: CRE prices will rise, then even out in 2020 | Mack-Cali ends negotiations with Bow Street | How Weyerhaeuser's CEO focuses on culture and employee development to build value for stakeholders
May 20, 2019
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NAR Economist: CRE prices will rise, then even out in 2020
The National Association of Realtors' chief economist, Lawrence Yun, said he expects commercial real estate prices to rise for the next year, then even out in 2020. The multifamily and industrial asset classes are the best-performing, with cap rates trending at 5% to 6%, he says.
GlobeSt (registration required) (5/20) 
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Investment News
Mack-Cali ends negotiations with Bow Street
Mack-Cali Realty Corp. has terminated settlement discussions with dissident shareholder group Bow Street LLC. Bow Street recently launched a proxy fight after its proposal to financially restructure and sell the REIT was rejected.
GlobeSt (registration required) (5/20) 
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Real Estate Marketplace
How Weyerhaeuser's CEO focuses on culture and employee development to build value for stakeholders
Weyerhaeuser Co. is among the largest US REITs, with a market cap of about $20 billon. Despite its size, President and CEO Devin Stockfish spends time engaging with the company's employees, including its foresters, log truck drivers and the people who work at the mills.
REIT magazine (5/2019) 
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Social-purpose REITs on leading edge of affordable housing
Entities like social-purpose REIT Housing Partnership Equity Trust are among the leaders tackling the affordable housing crisis with partners such as Eden Housing, a nonprofit. Affordable housing has become a national concern, says John Pawlowski, a senior analyst at Green Street Advisors, who adds, "The political pressure will build until the cycle breaks and rents go down."
REIT magazine (5/2019) 
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Host Hotels & Resorts puts 2 suburban Chicago hotels on the market
Host Hotels & Resorts has put two Marriott Suites properties in Chicago's suburbs up for sale, as the REIT apparently looks to exit the market. The hotels are part of a six-asset portfolio with an estimated value of $325 million that Host Hotels wants to sell.
Crain's Chicago Business (tiered subscription model) (5/15) 
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Walmart's new campus to boast gyms, food trucks, child care
Walmart's new campus to boast gyms, food trucks, child care
(Joe Raedle/Getty Images)
Walmart will build new headquarters in Bentonville, Ark., on 300 acres over the next two years, and ultimately move 14,000 employees from its current digs, which were built in 1971. The new campus will feature employee perks including upgraded food offerings, child-care facilities, fitness centers and hiking and biking trails.
CNBC (5/17) 
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Whole Foods testing c-store model in NYC
Whole Foods testing c-store model in NYC
(Justin Sullivan/Getty Images)
A Whole Foods Market store in New York City is the test site for a convenience store concept called Whole Foods Market Daily Shop. Local and organic products are paired with the ease of a convenience store, and shoppers can make their own acai bowls or get seasonal kombucha on tap.
Business Insider (5/17) 
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Policy & the Economy
US consumer sentiment reaches 15-year high
US consumer sentiment in early May climbed to the highest level since 2004 as Americans became more optimistic about the economy. The University of Michigan's consumer-sentiment index reached 102.4, compared with 97.2 in April, based on data collected before US-Chinese trade talks became contentious.
CNBC (5/17) 
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US shifts trade focus away from China
The US is taking action on unresolved trade issues that don't involve China. The decision to impose tariffs on imported cars and auto parts has been delayed for six months, and President Donald Trump said Mexico and Canada will be exempt from steel and aluminum tariffs imposed in 2018.
The Wall Street Journal (tiered subscription model) (5/17) 
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Nareit Resources
May/June issue of REIT magazine now available
Find out how REITs are helping low-to-middle income Americans gain access to housing options, learn what sustainable forestry means to timber REIT Weyerhaeuser, and discover how Ryman Hospitality Properties is shaping Nashville's cultural heritage in the May/June issue of REIT magazine. Learn more.
Nareit (5/20) 
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Elaine Chao,
US secretary of transportation

May is Asian/Pacific American Heritage Month

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