Commercial Property Investors See Upside in Co-Working Office Spaces, By Michael Gerrity, World Property Journal

“According to CBRE, while commercial real estate investors generally take a positive view on co-working, maintaining a balance of traditional and co-working space in a building is critical when it comes to creating long-term capital value. Based on CBRE’s 2018 Americas Investor Intentions Survey, investors say a co-working occupancy of a third of the space or less, with a qualified operator, supports a healthy capital value. ‘Co-working has captured the attention of both occupiers and investors and continues to gain traction in commercial real estate,” said Scott Marshall, Americas President, Advisory & Transaction Service and Investor Leasing, CBRE.'”

 

That Time JP Morgan Bought A Bank And Got A $1.1B Skyscraper Thrown In For Free, By Mike Phillips, Bisnow

“This week marks 10 years since one of the best — and most unconventional — real estate deals of the last downturn. On March 16, 2008, as the credit crunch really kicked into gear, JP Morgan bought imploding investment bank Bear Stearns for $2 a share, or $236M. Analyzing how much a bank was actually worth in those chaotic days was nigh on impossible, but one thing stood out with the deal: Bear owned its 1.2M SF office building at New York City’s 383 Madison Ave., which JP Morgan estimated to be worth $1.1B to $1.4B when it bought the company. The building had $500M of debt secured against it, but in buying Bear, JP Morgan still paid just $236M for an asset with a net value of at least $600M.”

 

4 Ways Macy’s Is Trying to Compete With Next-Gen Retail, By Cathaleen Chen, The Street

“Macy’s knows it’ll never be the hot new boutique in town, so instead, it wants to be your next hangout spot. Under its North Star strategy unveiled in May, the Cincinnati-based department store is upping its brick-and-mortar appeal by spiffing up product offerings, revamping stores and rolling out innovations for customers, all the while riding the momentum of its positive comparable sales growth in the fourth quarter — the first time in 12 full quarters. How does Macy’s hope to succeed?”

 

Developers Break Ground on Atlanta-Area Luxury Community, By Alex Ciorogar, Multi-Housing News

“Located at the intersection of Newnan Crossing Boulevard East and Lower Fayetteville Road, the property will feature studio, one-, two- and three-bedroom units. A partnership of Novare Group, PointOne Holdings Development and Batson-Cook Development Co. has broken ground on a luxury apartment project in Newnan, Ga. This is the first phase of Village Square at Newnan Crossing, a 123-acre mixed-use development that includes public greenspace, walking trails, offices, shopping, restaurants, apartments and townhomes.”

 

First Data Signs 50 KSF Lease in Marietta, GA, By Tudor Scolca, Commercial Property Executive

“The 253,096-square-foot office property was acquired by Zamir Equities in 2008 and received a complete cosmetic renovation. Other tenants include Quintiles and Everest. First Data Corp., a global payment technology solutions company, has signed an eight-year lease for 50,900 square feet of space at Zamir Equities’ office building in Marietta, Ga. Avison Young arranged the deal on behalf of the landlord. The building is currently 100 percent occupied.”

 

Walmart to expand grocery delivery from 6 markets to over 100 by year-end, By Sarah Perez, TechCrunch

“Walmart announced that it will expand its online grocery delivery service to more than 40 percent of U.S. households by year-end, growing from its current availability in just six markets to over 100 metro areas during that time. That means it will be making deliveries from 800 stores in total. The news is the latest salvo in Walmart’s quickly escalating war with Amazon, which just last month announced Whole Foods grocery delivery was available via Prime Now. But unlike with Prime Now, ordering groceries online from Walmart doesn’t require a subscription of any kind – only a minimum order of $30.”