Demand for warehouses nears record highs, and new bi-partisan agreement demands the end of Frannie and Freddie
Mar 14, 2014
Here are the news stories you might have missed this week:
The Wall Street Journal: Vornado weighs spinning off suburban shopping centers
Word on the street is that commercial landlord Vornado Realty Trust is considering spinning off its neighborhood shopping centers. The strip mall spin-off would then merge with San Diego-based Retail Opportunity Investments Corp. to create a separate, combined company. But the deal is far from concrete, with sources close to the company noting alternative plans, such as Vornado retaining the suburban shopping centers or spinning them off directly to shareholders. For more information about this portfolio, visit WSJ.com.
Commercial Observer: ‘You may be right’ about Bedford-Stuyvesant
Park Slope and Williamsburg have stolen the spotlight as emerging Brooklyn neighborhoods for years, but today Bedford-Stuyvesant is climbing the ranks. According to TerraCRG, average real estate prices for the neighborhood have doubled since 2000, leading many to title Bed-Stuy as the next Williamsburg. Click over to CommercialObserver.com to read more about this on-the-rise area.
GlobeSt.com: Under-warehoused nation?
The net demand for industrial space is nearing record highs, according to the NAIOP Research Foundation. Reports claim that the sector has the potential to reach 250 million square feet in 2014, largely in credit to the steady rate of e-commerce growth, housing market recovery, economic expansion, and the return of customers to retail centers. While the need for space has not yet surpassed supply, if economic growth continues at its current pace, this could become a major sector concern. Visit GlobeSt.com for more details.
CoStar.com: Senators outline plan to phase out Fannie Mae and Freddie Mac
Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Michael Crapo (R-ID) announced a new bi-partisan agreement this week that could transform the way the nation’s housing capital markets function. In the agreement, the country’s two largest government sponsored enterprises, Frannie Mae and Freddie Mac, would shutdown — a topic that has been hotly contested in recent months. To read what proponents and critics have to say about this proposal, visit CoStar.com.