DAILY READS: JAN. 15, 2020

Chinese investors in Miami. New life for an L.A. Sears. Renting beats buying in half the U.S. Here's a batch of other critical content for you to read, listen to or watch.

Real Estate Giant CBRE to Open First Northeast U.S. Location of Coworking Spinoff in Philly

The 50,000-square-foot coworking space, which is set to open during the last three months of 2020, is the seventh to be announced under CBRE’s Hana brand of collaborative offices and will be its first to open in the northeastern United States.

Austin’s Housing Market Expected to Outperform National Average, Says Study

Austin was the city most expected to outperform the, country according to the survey. Southern markets in general topped the results, with Charlotte, North Carolina; Atlanta, Georgia; and Nashville, Tennessee among the markets at the top of the charts for predicted home value growth.

Chinese Investors Are Buying Real Estate in Miami. Here Are the Stats to Prove It.

 Chinese buyers were not buying real estate in Miami five years ago, said Knight Frank Global Head of Research Liam Bailey. But now, they make up 4 percent of the foreign buyer pool, according to the most recent data published in 2018 from the National Association of Realtors.
—Miami Herald

 Former Sears to Become Massive $250M Food Hall, Entertainment District

Unibail-Rodamco-Westfield officials said the company plans to transform the 160K SF vacant department store that once anchored the Westfield Topanga mall in Canoga Park into a food hall with other types of dining and entertainment experiences.
—Bisnow Los Angeles

Smaller Landlords Are Trying to Sell Stabilized Buildings in the Wake of Rent Reforms

 “’The people that are putting properties on the market right now tend to have a lot of equity, and they can be more discretionary sellers,’ said Michael Tortorici, an investment sales broker at Ariel Property Advisors. ‘These are generational families that are moving on or splitting up partnerships. Or it’s owners that have some holdings [in which] they have a decent amount of equity, and maybe [the property] doesn’t fit in with the rest of their portfolio.’”
—Commercial Observer

Good Student Housing Deals Prove Hard to Find in Smaller Markets

“Prices rose relative to operating income for student housing properties in these secondary and tertiary markets in the first half of 2019, driving cap rates down. But potential buyers are resisting these lower cap rates—they are demanding higher yields to compensate for the risk of buying near smaller schools. That’s leaving some property owners stranded in deals, experts say.
—National Real Estate Investor

Renting Is More Affordable Than Buying in almost 50% of These Housing Markets—and They Tend to Have One Thing in Common

“‘Attom’s analysis incorporated its own sales-deed data, 2020 fair-market rent data from the U.S. Department of Housing and Urban Development and wage data from the Bureau of Labor Statistics. ‘Home ownership is a better deal than renting for the average wage earner in a slim majority of U.S. housing markets,’ Todd Teta, chief product officer at Attom Data Solutions, said in the report.”