{"id":1004374115,"date":"2019-12-06T07:28:44","date_gmt":"2019-12-06T15:28:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004374115"},"modified":"2020-02-18T10:35:07","modified_gmt":"2020-02-18T18:35:07","slug":"daily-reads-dec-6-2019","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/daily-reads-dec-6-2019\/","title":{"rendered":"DAILY READS: Dec. 6, 2019"},"content":{"rendered":"<p class=\"single-header-title\"><a href=\"https:\/\/therealdeal.com\/2019\/12\/06\/facebook-to-grow-west-side-fiefdom-with-giant-lease-at-farley-building\/?utm_source=internal&amp;utm_medium=widget&amp;utm_campaign=feature_posts\/\" target=\"_blank\" rel=\"nofollow\"><strong><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004368202\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/daily-reads-dec-4-2020\/media-post-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/media-post-1.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"media post\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/media-post-1.jpg?w=800\" class=\"size-medium wp-image-1004368202 alignright\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/media-post-1.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/media-post-1.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/media-post-1.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/11\/media-post-1.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Facebook to Grow West Side Fiefdom with Giant Farley Building Lease<\/strong><\/a><\/p>\n<p>&#8220;The social media giant is in talks to lease 700,000 square feet of office space at Vornado Realty Trust\u2019s conversion of the James A. Farley Post Office, according to the Wall Street Journal. Apple had also reportedly been&nbsp;looking into leasing space&nbsp;at the office redevelopment.&#8221;<\/p>\n<p><em>\u2014The Real Deal<\/em><\/p>\n<p><strong><a href=\"https:\/\/www.bisnow.com\/los-angeles\/news\/multifamily\/no-panic-after-passing-of-californias-rent-cap-bill-multifamily-sellers-are-staying-put-for-now-102097\/\" target=\"_blank\" rel=\"nofollow\">Rent Cap Makes Sense Now, Multifamily Sellers&nbsp;Say, But There&#8217;s Danger On The Horizon<\/a><\/strong><\/p>\n<p>&#8220;The new law will also make it harder for landlords to evict tenants by using \u201cjust cause\u201d criteria, meaning landlords must now provide a reason for eviction, such as nonpayment of rent or criminal activity.&#8221;<\/p>\n<p><em>\u2014Bisnow Los Angeles<\/em><\/p>\n<p id=\"link-2ded2a01\" class=\"css-fnr6md e1h9rw200\"><a href=\"https:\/\/www.nytimes.com\/2019\/12\/06\/realestate\/the-taxman-cometh-for-some-condos.html\" target=\"_blank\" rel=\"nofollow\"><span class=\"balancedHeadline\"><strong>The Taxman Cometh for Some Condos<\/strong><\/span><\/a><\/p>\n<p>&#8220;The end of those benefits, through an expired program known as 421-a, could not have come at a worse time for many sellers, who are faced with mounting taxes and stiff competition in a weak market. Some are selling for marginal returns or even less than what they paid several years ago.&#8221;<\/p>\n<p><em>\u2014New York Times<\/em><\/p>\n<p class=\"topper__headline\" data-trackable=\"header\"><a href=\"https:\/\/www.ft.com\/content\/c766ee1c-175f-11ea-8d73-6303645ac406\/\" target=\"_blank\" rel=\"nofollow\"><strong><span class=\"article-classifier__gap\">Blackstone and Brookfield Join \u00a34BN Hunt for UK Student Housing Group IQ<\/span><\/strong><\/a><\/p>\n<p data-trackable=\"header\">&#8220;The interest in London-based IQ comes as its owners at Goldman Sachs and Wellcome Trust, the medical research charity, are preparing an initial public offering of the business for which they joined forces to grow in early 2016.&#8221;&nbsp;<\/p>\n<p data-trackable=\"header\"><em>\u2014Financial Times<\/em><\/p>\n<p class=\"asset-headline speakable-headline\"><a href=\"https:\/\/www.tennessean.com\/story\/news\/local\/wilson\/2019\/12\/03\/amazon-com-services-pays-nearly-5-m-mt-juliet-land\/2595239001\/\" target=\"_blank\" rel=\"nofollow\"><strong>Amazon buys Land in Mt. Juliet Where Project Sam is approved for Nearly $5 Million<\/strong><\/a><\/p>\n<p>&#8220;Amazon.com Services is listed as the buyer and new owner of two properties that total about 77 acres with East Division Street addresses,&nbsp;according to Wilson County property records.&#8221;<\/p>\n<p><em>\u2014The Tennessean<\/em><\/p>\n<p><a href=\"https:\/\/www.nreionline.com\/retail\/kimco-s-ross-cooper-discusses-future-us-shopping-centers\/\" target=\"_blank\" rel=\"nofollow\"><strong>Kimco\u2019s Ross Cooper Discusses the Future of U.S. Shopping Centers<\/strong><\/a><\/p>\n<p>&#8220;The biggest challenges are a combination of a lack of investment by certain owners and landlords, as well as some of the assets in the marketplace being too [commodity-focused.] It really is critical in today\u2019s retail environment to invest in the centers in both the aesthetics and tenant mix.&#8221;<\/p>\n<p><em>\u2014NREI<\/em><\/p>\n<p><strong><a href=\"https:\/\/ca.finance.yahoo.com\/news\/fcpt-announces-acquisition-pnc-bank-220900977.html\" target=\"_blank\" rel=\"nofollow\">FCPT Announces Acquisition of PNC Bank Property for $1.5 Million<\/a><\/strong><\/p>\n<p>&#8220;The property is located in Michigan, is leased to the corporate operator under a triple-net ground lease with approximately 5 years of term remaining and has high deposits according to the FDIC. The transaction was priced at a 6.7% going-in cash cap rate, exclusive of transaction costs.&#8221;<\/p>\n<p><em>\u2014Yahoo Finance<\/em><\/p>\n<p class=\"c-page-title\"><a href=\"https:\/\/ny.curbed.com\/2019\/12\/5\/20995715\/downtown-brooklyn-80-flatbush-passive-house-sustainability\/\" target=\"_blank\" rel=\"nofollow\"><strong>One Developer Wants to Build \u2018the Most Sustainable Block in Downtown Brooklyn\u2019<\/strong><\/a><\/p>\n<p>&#8220;The schools, which will be designed by Architecture Research Office and built in partnership with the NYC\u2019s School Construction Authority, will be built to passive house standards, a first for the city. The 38-story tower, meanwhile, will be entirely electric, with all of the functions that would typically use natural gas\u2014stovetops, for example, or boilers for heating\u2014replaced with electric energy. It will also have a number of other measures (including cooling towers, triple-pane windows, and energy recovery units) that will help lower its carbon output.&#8221;<\/p>\n<p><em>\u2014Curbed New York<\/em><\/p>\n<p class=\" font--headline gray-darkest mb-sm null \" data-qa=\"headline\"><a href=\"https:\/\/www.washingtonpost.com\/business\/2019\/12\/05\/public-housing-complex-dc-navy-yard-re-emerges-mixed-income-mixed-use-development\/\" target=\"_blank\" rel=\"nofollow\"><strong>Public Housing Complex in D.C.&#8217;s Navy Yard Re-Emerges as a Mixed-Income, Mixed-Use Development<\/strong><\/a><\/p>\n<p>&#8220;Twenty percent of the apartments are replacement units for people who previously lived at the Capper\/Carrollsburg public housing development. Once the entire redevelopment of that former public housing is complete, more than 1,600 townhouses, apartments and condos will be in place, along with offices and recreational amenities.&#8221;<\/p>\n<p><em>\u2014Washington Post<\/em><\/p>\n<p><a href=\"https:\/\/www.chicagobusiness.com\/commercial-real-estate\/big-new-suburban-warehouses-fetch-nearly-200-million\" target=\"_blank\" rel=\"nofollow\"><strong>Big New Suburban Warehouses Fetch Nearly $200 Million<\/strong><\/a><\/p>\n<p>&#8220;The Chicago industrial real estate market is so strong these days that developers like Bridge are stamping out massive warehouses in the suburbs, selling them quickly and moving on to their next project. Developers will complete 23.7 million square feet of industrial space in the Chicago area this year, just shy of the 24.8 million completed in 2017, a high for the current boom, according to Colliers International.&#8221;<\/p>\n<p><em>\u2014Crain&#8217;s Chicago Business<\/em><\/p>\n<p data-trackable=\"header\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Start your day smarter. Commercial Property Executive now delivers a daily batch of other critical content for you to read, listen to and watch.<\/p>\n","protected":false},"author":1269,"featured_media":1004508411,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004374115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>DAILY READS: Dec. 6, 2019 - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/daily-reads-dec-6-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DAILY READS: Dec. 6, 2019\" \/>\n<meta property=\"og:description\" content=\"Start your day smarter. 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