CPE’s August 2020 Must-Reads

Catch up on our most important stories, interviews, rankings and analyses from last month.

Although the U.S. continues to grapple with the spread of the coronavirus, the effects on the real estate market are less visible now than they were when the crisis started. While brick-and-mortar retail and hospitality are still disproportionately impacted by the pandemic, the industrial sector is expected to face a sharp yet short-term decline in absorption this quarter. According to the latest forecast from NAIOP, facilities not well-positioned for e-commerce distribution stand to feel the hardest burden. In August, we’ve also witnessed that as people continue to avoid large gatherings and spend more time shopping online than before the pandemic, industrial build-to-suit projects could represent a safe bet both for developers and investors.

So, it shouldn’t come as a surprise that a number of metros have witnessed an increase in industrial development. In metro Dallas, construction is progressing at a fast pace. Amazon revealed plans to establish a 1 million-square-foot fulfillment center in Forney, the third Texas facility the e-commerce giant has announced in recent weeks, in addition to its eighth Florida distribution center. A joint venture of Bandera Ventures and Invesco Real Estate secured financing for a nearly 1 million-square-foot project to be developed in Fort Worth. And in Haslet, JLL arranged a construction loan for Intermodal Commerce Park, an upcoming 1.4 million-square-foot project.

Meanwhile, Dunkin’ expects that 800 of its U.S. locations may close this year, following a July announcement that 450 locations within the Speedway convenience store and gas station chain could be shuttered. Additionally, Lord & Taylor revealed that it will permanently close five more locations than previously planned. The following week, news came that the country’s oldest department store was officially going out of business. Simon Property Group is taking notice, acquiring bankrupt retail brands, including a well-known jeans brand.

Here are CPE’s must-reads for last month:

Real Estate Market Crash Unlikely, Experts Say

Economists are calling the pandemic-induced recession unique in several ways. Here’s how analysts expect the health crisis to change the real estate market.

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Real Estate Has a Diversity Problem. Will This Moment Lead to Real Change?

Industry leaders discuss what actions companies and individuals can take and why it’s important to keep the conversation going.

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The Legacy of Gerald Hines, Master Builder

The founder of Hines built a development giant that changed the industry and shaped skylines around the world.

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Top 30 Commercial Property Management Companies of 2020

The 2020 Top 30 Commercial Property Management Firms Ranking utilized self-reported data for all firms.

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Podcast: The Quest for CRE Opportunity

In this new episode of our quarterly FTI Consulting podcasts, Ingrid Noone shares insights on the various asset categories and the conditions for those with access to capital. Tune in now!

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Top 5 Cities for RevPAR Drop in Home-Sharing

Airbnb and Vrbo renters have been heavily impacted by the COVID-19 crisis. Here’s a breakdown of the cities with the highest decline in revenue, based on AirDNA data.

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Airbnb Files Confidential IPO Paperwork

The filing comes more than a month after the short-term rental giant reported an encouraging uptick in bookings.

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CMBS Delinquencies Appear to Stabilize—For Now

The latest report from the Kroll Bond Rating Agency on the $286 billion of commercial mortgage-backed securities it tracks indicates delinquencies could be leveling off.

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Scouting Post-Pandemic Potential

Where opportunity awaits along the industry’s uncertain road to recovery.

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Top 10 Workplace Trends for 2020, According to JLL

The latest edition of JLL’s study points toward COVID-19 as an overriding factor behind much of what’s shaping corporate real estate strategies this year.

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