DAILY READS: Feb. 3, 2020

New York needs more of these units. Tony Womack returns. What happened in Miami since the last Super Bowl? Here's a batch of other critical content for you to read, listen to or watch.

Sales of Flex Industrial Assets Trail Behind Warehouse Sales. What’s Behind the Trend?

“While the gap in sales between the two industrial sub-sectors is huge, Al Pontius, senior vice president and national director for office and industrial assets with brokerage firm Marcus & Millichap, says, “We’re seeing a healthy increase in investment in the flex space,” though “there is clearly an investor preference for warehouse space in the e-commerce revolution.”
—National Real Estate Investor

“‘A lot of people in New York are trying to do Airbnb as a job,’ she said. “’But they’re also not trained in the hospitality industry, so you come across things like apartments with no towels.’”
—New York Times

Between Two Super Bowls, Downtown Miami Real Estate Development Boomed To Record Levels

“‘Since 2010, the center of gravity in Miami has shifted as downtown comes alive as one of the nation’s most vibrant neighborhoods for tourism, business and everyday living,’ (Deputy Director of the Miami Downtown Development Authority Christina) Crespi said. ‘Few urban centers in the U.S. have seen this degree of progress in one decade.’”

“The Democratic governor invoked Mr. Moses’ name when he announced in early January that the state would acquire the block just south of the existing rail hub, which sits below Madison Square Garden in Midtown Manhattan, to add an additional eight tracks and accommodate regional growth.”
—Wall Street Journal

After Multifamily Upgrades, Investor Exits Austin for Now

“New York-based Castle Lanterra Properties purchased a class-A 350-unit rental community, Villas Tech Ridge at 13838 The Lakes Blvd., before Austin was significantly on institutional investors’ radars. This was in February 2016, and the firm set about subsequently refreshing and modernizing the property to compete with surrounding newly constructed product.”

“Womack has spent the past dozen years serving as managing director of Tishman Speyer and also had long stints at brokerage firms Grubb & Ellis and Spaulding & Slye. Thanks to his 30 years of experience working in the D.C. area, Womack was also recently named as new president of the NAIOP’s Northern Virginia chapter.”
—Commercial Observer

“A 1993 water law that cleared the way for large-scale development to sprawl far from existing cities was born out of the real estate industry’s political clout.  With that state law, builders and developers in Arizona’s three most populous counties can pump groundwater for their subdivisions when they lack access to renewable water supplies like Colorado River water delivered through the Central Arizona Project.”

Opinion: ‘Feel Good’ Policies Are Stifling Housing Production

“Housing policies from the state of California and local jurisdictions might make for great campaign rhetoric, but they are increasing housing prices while decreasing housing production. Policies ranging from CEQA to rent control to inclusionary housing might feel good to support, but they hurt the very people they purport to help while increasing the cost of living for just about everyone else.”
—San Diego Voice