Capstak's Weekly Wrap Up | March 17
by Michael Schnabel
1) Capstak | Capstak and PublicAssets Announce Strategic Partnership Showcasing Billions of Dollars of Government Leases and RFPs
In case you missed it, Capstak announced a new partner this week. PublicAssets is a company that provides commercial real estate professionals access to billions of dollars of opportunities in the massive and dynamic government commercial real estate market. Governments are leasing more space than ever and acting more commercial than ever. Now, leveraging Capstak’s Haves & Wants proprietary technology, tens of thousands of formerly hidden opportunities to lease, dispose, and acquire property will get exposure to local and national markets.
Are grow facilities going to be the next big asset class in commercial real estate? The marijuana industry's first $1 billion "unicorn" startup Canopy Growth operates out of a once-abandoned Hershey chocolate factory in the small town of Smiths Falls, Ontario. While this is above board in Canada, we’ll see how the US federal government handles ongoing marijuana deregulation and how that impacts the commercial real estate industry.
3) Business Insider | Amazon is the reason Warren Buffett sold Walmart
In Q4 of 2016 it was revealed that Warren Buffett had sold $900 million worth of Walmart stock, which is about 90% of the Walmart stock Berkshire Hathaway owned. This week Business Insider reported on the real reason Buffett decided to sell – he thinks retailing is just too hard of a business to be in and it’s been made even tougher by the rise of online shopping and Amazon. Buffett said, “But I think that Amazon in particular is an entity that’s gonna have everybody in their sites. And they’ve got delighted customers. And it’s extraordinary what they’ve accomplished.”
4) Forbes | The Cities Creating The Most Tech Jobs 2017
Forbes just completed their study of the top cities with technology job growth for 2017. Not surprisingly, the Bay Area landed at the top of the list. Some of the other 15 cities you may be surprised to see on a list for technology job growth are Charlotte, Indianapolis, Detroit and Salt Lake City. These days, a growing tech sector is seen as the holy grail of a healthy local economy. Maybe we’ll have to start adding this stat to area comps.
The New York University Conference on Sustainable Real Estate Panelists had good news – corner has been decisively turned on concerns regarding the integration of sustainability into the practices of the real estate industry. ULI Global CEO, Patrick L. Phillips, summed up the current feelings of sustainability saying, “Leadership in sustainability was not really a response to government regulation. It was really a market-driven, profit-driven response in many cases to the changing environment, and nothing’s going to change that.”