If someone asked you what company was winning the race to build the self-driving car, you’d probably say someone like Google or Uber. Well, according to this article, you’d be wrong. Based on a recently released report by Navigant Research, Ford is winning the race to build the self-driving car, with General Motors in second. Navigant’s “leaderboard” ranks companies on their ability to make a car drive itself, and on their ability to bring that car to the mass market.
When the news continues to show more store closings, and talk about the next short being in commercial real estate, there is apparently one industry that is primed to reuse this space. Legalized pot has moved into factories, warehouses and self-storage facilities. The strip malls that formerly housed Payless Shoes now sell pre-rolled joints and edibles. Is the marijuana industry our new hope for blighted neighborhoods by sending property values soaring, or is it just a new way for landlords and property owners to charge a premium for new tenants?
The decline of brick and mortar department stores due to the rise of e-commerce, is no secret. But, is that enough to deem commercial real estate the next "Big Short?" Probably not says Nasdaq. “2017 is set to mature $200 billion in commercial mortgage-backed securities (CMBS), and 28% of those are backed by retail properties.” This comes at the same time the Fed is raising rates - increasing the cost of borrowing. All of this shows signs of a softening real estate market in 2018, 2019, but as John D'Amico, the director of special asset management at Trimont Real Estate Advisors, says, “It won't be like 2008 to 2010, but there will be a softening."
The newest trend in commercial real estate, co-working spaces, has almost doubled since 2014 – from 5,800 up to 11,300 worldwide. Leanne Beesley, Co-Founder & CEO of CoWorker which features almost 4,000 co-working spaces across 105 countries, sent Forbes her list of the most beautiful co-working spaces. And here’s the top five Forbes chose.
At $1.9 billion, Las Vegas is about to have the most expensive football stadium in the world. At least until the Los Angeles Stadium for the Rams and Chargers is built for $2.6 billion, but that’s more of a buy-one-get-one deal. The Las Vegas stadium is being hailed as the worst stadium deal in the world, even though Forbes says, “Fans are expected to flock from out of town to visit Vegas to see their favorite team play.” We’ll see if the Clark County taxpayers’ $750 million bet pays off.