What to Expect from the Logistics Sector as E-Commerce Grows Up, By Patricia Kirk, NREIOnline
“Cyclical and structural factors, including overcapacity in the container shipping industry and greater use of technology in manufacturing, retail and logistics industries, are also disrupting the sector. Automation and robots are replacing manufacturing, logistics and warehouse workers. A survey by PwC found that 59 percent of all U.S. manufacturers are using robots for some tasks. A recent report from real estate services firm Colliers International analyzes how these changes are impacting the logistics landscape. The report also looks at the impacts on industrial and logistics properties.”
Some Multifamily Cornerstones Transcend Generations and Submarkets, By Julia Bunch, Bisnow
“When Berkshire Communities enlisted the help of consulting firm Bain and Co. a few years ago, Berkshire learned residents who moved to one of their projects because of location or the community itself were willing to stay 36 months compared to 24 months, and were willing to pay 5% higher rent upon re-signing.”
Greystar-Led Fund Taking Monogram Residential REIT Private in $3 Billion Transaction, By Mark Heschmeyer, CoStar
“A ranking of the largest US apartment owners by the National Multifamily Housing Council for 2017 lists Charleston, SC-based Greystar as the 19th largest owner with 44,037 units. Greystar is also ranked as the largest apartment manager with 415,634 units under management. Under the agreement, which was unanimously approved by Monogram’s board, stockholders will receive $12 per share in cash, a premium of 22% to Monogram’s closing stock price of $9.80 on July 3.”
Can Investors Benefit from the Department of Veterans Affairs’ Space Reduction Plan?, By John Egan, NREIOnline
“Nationwide, the VA has 430 vacant buildings that are, on average, roughly 60 years old. The oldest of the buildings dates back to 1869, while the newest dates back to 2004. In all, the 430 vacant buildings encompass more than 5.9 million gross sq. ft., according to a VA spokesman. The disposal of 71 properties is already underway.”
ISO Workforce Housing, By Bendix Anderson, Multifamily Executive
“Housing advocates having been talking about the shortage of affordable housing for years, but developers still produce much less than is needed. ‘We haven’t see any substantial increase in workforce housing, partially due to the lack of gap financing, which can incentivize developers to build for this population,’ says Catherine Cawthon, president of the Fifth Third Community Development Corp.”
Mill Creek plans 320 apartments next to Buckhead’s Prominence tower, By Doug Sams, Atlanta Business Chronicle
“It’s the same site that Crocker Partners LLC has considered selling to developers for the past few years. An affiliate of Crocker Partners, SGCP Prominence Land LLC, owns the 6.3-acre property, which is part of the much larger Prominence tower site at Piedmont, Lenox and Georgia 400.”