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Friday, May 1st, 2020

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Posted by: | Posted on: May 1, 2020

Rent is Due Today, but Many Tenants Can’t—or Won’t—Pay

May is shaping up as a clash between renters and landlords, as soaring unemployment could leave millions of tenants unable to pay, and some organizers of rent strikes urge even those with means to hold back.

April rent payments turned out better than expected, landlord representatives said. With the economy still strong in the first half of March—before the worst hit from the coronavirus pandemic—about 9 in 10 renters in professionally managed apartments paid at least some of their April rent, according to the National Multifamily Housing Council, a landlord trade group.

Now, rent for May is coming due after millions of Americans have been unemployed for weeks. Many more are worried about keeping their jobs, and housing activists in at least 15 cities, including New York and Chicago, are organizing rent strikes. They are calling on tenants to withhold May payments in hopes of provoking federal and

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Posted by: | Posted on: May 1, 2020

Influencers in Retail | GlobeSt

On the following pages you will find our picks of the leading influencers in the retail space. Like the rest of our influencer series, this group of retail specialists reflect special characteristics that have allowed them to make a mark on the industry. We don’t, in other words, automatically pick the biggest companies or the most prolific teams—although they certainly can be found on the following pages. Rather, we look for individuals, teams and companies that have led to significant change.

We started this project well before the coronavirus began to infiltrate the US economy. But in many ways, this list takes on a special meaning in the midst of the pandemic. With retail struggling to maintain a footing right now, the industry will need the best and the brightest to lead the way. Here are the people that we believe meet that criteria.

PETE BETHEA
Newmark Knight Frank
Newmark

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Posted by: | Posted on: May 1, 2020

Retail Tech to the Rescue

Between March 12th and March 15th, order volume for online grocery retailers surged an eye-popping 210% compared to the same period in 2019, according to Rakuten Intelligence . Separately, NetElixir reported that online food sales rose 183% between March 1 and 25, compared with the same period last year.

What do these numbers tell us? One obvious conclusion is that consumers are staying home while the coronavirus is still on the rampage and taking advantage of online grocery offerings. But reading between the lines, we can also determine that people are afraid. They are not coming out to shop for groceries, even though it is a permitted activity under the shelter-in-place orders that have spread across the US.

In addition, it is debatable whether people will be willing to be among crowds even when state and local governments give the all-clear. While grocery stores should be fine —after all, they

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Posted by: | Posted on: May 1, 2020

Despite the Coronavirus, Home Prices Are Still Rising—for Now

Home sellers can take heart. Despite the fervent wishes of buyers, home prices are ticking up during this coronavirus crisis—instead of down.

In a surprise, the median home list price rose 1.6% annually in the week ending April 25 compared with the same week a year ago, according to the most recent national data from realtor.com® looking at the 99 largest metropolitan areas. Real estate experts have been predicting that price growth would level off or even dip, as prices had been up only 0.3% year over year in the previous week and just 0.8% in the week prior to that.

That was a stark contrast to just a few months ago, when prices were rising by more than 4% annually before the coronavirus pandemic essentially put the U.S. on lockdown.

The median home price was $324,9000 in the week ending April 25, up from roughly $320,000 since mid-March.

“The

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Posted by: | Posted on: May 1, 2020

As Construction Projects Resume, Developers Move into Overdrive to Minimize Impacts

Restrictions on construction implemented because of the pandemic are being eased.

By Bill Tryon and Jim Carlson, both from Partner Engineering & Science, Inc.

An unprecedented number of construction projects have been shut down around the world.  As we make progress for controlling the pandemic, governments are loosening activity restrictions which resulted in the shutdown of thousands of construction sites. This is new territory for most developers.  Proactive engagement can take a lot of effort, but can help to reduce impacts, mitigate future delays and reduce uncertainties.

To make the best decisions, developers must continually consider new information to balance project viability. They must weigh changes in the marketability and utility of the project against the remaining cost and time to complete the work and consider the liabilities and potential reputational risks of abandonment or material redesign of the project. In the beginning it may be helpful to make assumptions

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Posted by: | Posted on: May 1, 2020

Well-Traveled Pitcher Edwin Jackson Selling Paradise Valley Estate for $6.2M


The pitcher Edwin Jackson holds a somewhat dubious major league record. He’s pitched for an MLB record of 14 different teams over the course of his 17-year big league career. So we can’t blame him for his choice of a sweet place to settle down in the offseason.

Even so, his massive estate in Paradise Valley, AZ, has now landed on the transactions wire. The well-traveled righty put his desert home up for sale a couple of months ago, with a list price of $6.2 million.


The private estate sits on over an acre of land and features six bedrooms, seven bathrooms, and just shy of 9,800 square feet.

Listing details for the property state that more than $1.2 million was spent on improvements for

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