DAILY READS: Dec. 17, 2019

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Real-Estate Stocks Chalk Up Best Return in Five Years

“Owners of warehouses and fulfillment centers, which have capitalized on the shift to e-commerce shopping, made up the top-performing sector among real-estate investment trusts. These stocks had a total return of 46.7% in 2019 through Monday’s close, led by Prologis Inc.’s 53.6% return this year.”

—The Wall Street Journal

Chicago Leads Nation in MOB Absorption, Deliveries

“Chicago leads the nation for net absorption and deliveries of medical office product through the second quarter, CBRE says in a new report. The metro area recorded 915,000 square feet of positive net absorption during the year that ended June 30, significantly ahead of second-ranked Atlanta, which recorded 557,000 square feet during the 12-month period.”

—Connect Media

New York City’s Biggest Multifamily Landlords in 2019

“Amid breathtaking upheaval in the multifamily market’s economics, the ranking of New York City’s five largest rental landlords featured only one change. And four of the five top rental landlords from last year’s rankings either maintained or reduced their rental holdings except for A&E Realty Holdings, which increased its rent-regulated multifamily holdings.”

—The Real Deal

The Nine Most Resilient Office Markets

“A recession is unlikely in the coming year, but the market might see a mild downturn, according to Richard Barkham, global chief economist with real estate services firm CBRE. In fact, Barkham says he is seeing the most resilience in the U.S. office market in 40 years.”

—National Real Estate Investor

Austin rents rose faster than those in any other U.S. city in the past decade

“The near-doubling of rent in the past decade parallels the incredibly rapid growth in the Austin area during that time and accounts, in part, for the rapid rise. Since, according to U.S. Census numbers, Austin is the fastest-growing large metro in the United States, it has more renters handing over more money to landlords, thus increasing the total amount paid.”

 —Curbed Austin

Boston real estate tax ‘penalizes’ investors, critics say

“’This is a modest fee on high-end transactions that will allow us to help more people than that we have currently have tools for and develop solutions for seniors, for families, for people experiencing homelessness and for people who want to stay in the neighborhoods that they help build,’” Mayor Martin Walsh said.”

—Boston Herald

CRE’S Biggest Flops of the Decade

“It was supposed to be a decade of recovery and rebuilding after the knockout punch of the Great Recession. Instead, the last 10 years saw the longest bull market in history, a roaring investment climate and a stretch of innovation and discovery that changed not just commercial real estate, but the way we all live (there wasn’t always an app for that).”

—Bisnow

Does Apple have its eye on Oakland?

“According to multiple real estate sources, the California technology giant — the maker of iPhones, iPads and Mac computers — is talking to Walnut Capital about taking up to 90,000 square feet of space in the Pittsburgh Athletic Association building on Fifth Avenue in Oakland, just across from the University of Pittsburgh’s Cathedral of Learning.”

—The Pittsburgh Post-Gazette

Ponce City Market developer offers Atlantans a chance to invest in local projects

“It’s part of a new initiative by Jamestown, the firm behind properties such as Ponce City Market and Westside Provisions. In a new effort called “Jamestown Invest,” the company is offering Atlantans a chance to add real estate investments to their portfolio — for a minimum of $2,500.”

The Atlanta Journal-Constitution

Brooklyn project once pitched for Amazon HQ2 lands first tenant

“Fashion brand Kith signed a lease at 25 Kent Ave. in Williamsburg for 57,679 square feet of space, according to a statement Monday from the property’s developers, Rubenstein Partners and Heritage Equity Partners. The eight-story building is the neighborhood’s first ground-up commercial development in more than 40 years.”

—Bloomberg