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Eight Must Reads for the CRE Industry (March 8, 2021) The $1.9 trillion rescue bill that Congress is due to approve this week includes $86 billion to help support multiemployer pension plans, reports the New York Times. California has cleared theme parks and sports venues to reopen at reduced capacity in April, according to Vulture. These are among today’s must reads from around the commercial real estate industry.
Rescue Package Includes $86 Billion Bailout for Failing Pensions “The bailout targets multiemployer pension plans, which bring groups of companies together with a union to provide guaranteed benefits. All told, about 1,400 of the plans cover about 10.7 million active and retired workers, often in fields like construction or entertainment where the workers move from job to job. As the work force ages, an alarming number of the plans are running out of money.” (
ColoradoUnited-statesNew-yorkCaliforniaWashingtonFairmontState-of-new-yorkOrange-countyKennedy-wilsonNew-york-timesCommittee-to-advance-women-in-real-estateFairmont-hotelSeven Must Reads for the CRE Industry Today (March 6, 2021) Burlington Stores and Saks Fifth Avenue each announced changes to their retail strategies. Commercial Observer looks at whether recent scandals surrounding New York Gov. Andrew Cuomo have implications for real estate. These are among today’s must reads from around the commercial real estate industry.
Burlington Stores to open 100 stores in 2021; cites ‘significant market share opportunity’ “The off-pricer, which ended the year with 761 stores nationwide, expanded its long-term store count potential to 2,000 stores, up from its previous target of 1,000 stores. It expects to open 100 new locations in its current fiscal year. In expanding the target, Burlington cited its new smaller store format and “the opportunity presented by accelerating retail disruption and industry-wide store closures” (
ChinaNew-yorkUnited-statesBurlingtonLos-angelesRobert-mosesBurlington-storesInternational-longshoreEconomic-developmentStores-units-fewChain-store-ageNew-york-times13 Must Reads for the CRE Industry Today (March 3, 2021) An infrastructure bill is likely to cause challenges for President Biden, according to The New York Times. The Wall Street Journal looks at a company that tries to turn home rental tenants into homeowners. These are among today’s must reads from around the commercial real estate industry.
After Stimulus, Biden to Tackle Another Politically Tricky Issue: Infrastructure “Unless the parties can agree on how to fund an infrastructure plan, Mr. Biden might have to try to push through another sprawling spending package with only Democratic votes. The task could prove exceptionally difficult given the competing pressures the president will face from centrists and progressives in his party and the absence of a pandemic emergency to help fuse those factions in support of the bill.” (
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