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November 30, 2020

'Tis Not The Season: CRE Laments Loss Of Holiday Party Circuit

For the last 25 years, the holiday bash thrown by the real estate group at law firm Fried Frank Harris, Shriver & Jacobson has been a mainstay of New York City real estate's social scene, known for attracting the who’s who of industry identities.

'Tis Not The Season: CRE Laments Loss Of Holiday Party Circuit

But this year there will be no gathering at the Cipriani on 42nd Street for the extravagant celebration — just as there will be no packed-out International Council of Shopping Centers conference after-parties, boozy developer holiday celebrations or broker events.The winter real estate party calendar, which is usually awash with events to toast…

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Online Sales Boom On Surprisingly Successful Black Friday

Americans were shopping with gusto on Black Friday, just not in physical stores. Online spending jumped 22% on Black Friday from a year ago, hitting $9B for the day, The Wall Street Journal reports, citing Adobe Analytics data. 

But Black Friday foot traffic at U.S. physical stores this year dropped by more than half (52.1%), retail specialist Sensormatic Solutions reports. That particular perk of the storied consumer holiday, known in recent years for its shopper frenzy and strongly promoted retail bargains at physical stores, proved to be another victim of the coronavirus pandemic.

Online Sales Boom On Surprisingly Successful Black Friday

Shopper traffic was also down 45.2% for the week ahead of Thanksgiving (Sunday, Nov. 22, to Friday, Nov. 27), compared with the same period last year, according to Sensormatic.That ecommerce surge put Black Friday at the second-best online shopping day ever measured by Adobe. Last year's

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Hyperscalers Like Google, Facebook And Amazon Zeroing In On States That Generate Clean Power
 

Tax breaks for data centers don’t turn heads the way they used to, according to some industry leaders. 

With the goal of luring data center business, 36 states have introduced tax incentive programs that can save buildings and operators millions. As data center firms look to their next phases of growth, proximity to plentiful and affordable renewable energy may be the bigger prize. 

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Is A Republican Or Democratic Administration Better For CRE? Turns Out, It's A Tie

How much difference does the political affiliation of presidential administrations make to commercial real estate growth? Apparently, not much.

A recent study by Newmark analyzed returns on investment in CRE under the presidential administrations of the last 40 years and found little difference, but what edge there is goes to Democratic presidents. Since the beginning of the Reagan administration in 1981, the report notes, annualized total CRE returns for all asset classes have averaged 9% during the years when a Democratic president was in office (16 years) and 8.2% when a Republican was in office (24 years).

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