DAILY READS: Feb. 11, 2020
Federal government looking to sell off assets. Dallas-Fort Worth had second biggest construction pipeline in 2019. Restaurant chains struggling to survive despite record spending. Here’s a batch of other critical content for you to read, listen to or watch.
The Federal Government is Starting Surplus Real Estate Dispositions. What’s on Offer?
“The Public Buildings Reform Board (PBRB), an independent federal agency established by the Federal Assets Sale and Transfer Act of 2016 (FASTA), has released its first 12 federal assets , with a cumulative value of between $500 and $750 million, for disposal by the General Services Administration (GSA).”
—National Real Estate Investor
Dallas-Fort Worth’s Construction Boom Ranks Second Nationally in 2019
“Dallas-Fort Worth was the second busiest building market in the country last year with almost $22.5 billion in construction. Only New York City had more total construction – both residential and nonresidential – than the D-FW area, according to information from Dodge Data & Analytics.It was the fourth year in a row that annual building starts in North Texas topped $20 billion – an unheard of pace of construction for the D-FW area.”
—Dallas Morning News
Plans for NYC’s First Soccer Stadium Inch Forward in the Bronx
“The group of developers and the New York City Football Club are close to reaching a deal with the city to bring a 25,000-seat stadium to the South Bronx as part of a $1 billion development plan that also includes a hotel, new school, and affordable housing.”
Restaurant Chains Struggling to Survive Despite Record Economy, Food Spending
“That macro-change in eating habits has helped drive up the number of restaurants, and thus the competition. There are now more than a million U.S. restaurants, according to the National Restaurant Association. Each year since the recession, the number of restaurants has grown by 1% to 1.2%, or up by a net of 10,000 or more per year.”
Treasury Yields Jump on Easing Coronavirus Concerns Ahead of Powell Testimony
“Meanwhile, the Fed’s Powell will speak in front of Congress as part of the semi-annual monetary policy testimony where he could hand out clues on the direction of interest rates. His remarks will come as traders price in increased expectations of a rate cut this year.”
What Should San Diego Do With its Sports Arena Property?
“The Midway District, home to San Diego’s 54-year-old sports arena and a hodgepodge of retail and industrial buildings, is not a landmark destination. But it could be. At least that’s the thinking behind the city’s long-held desire to dramatically remake the district, starting with 48 acres it owns around Pechanga Arena San Diego.”
—San Diego Union-Tribune
Morgan Stanley Provides $78M CMBS Refi on Bronx Rental Portfolio
“The investment bank provided $77.7 million to FTERE to refinance previous debt from Customers Bank and Valley National Bank encumbering a portfolio of eight rental assets in the borough, a source said. This marks at least the third Morgan Stanley financing that FTERE has nabbed for a Bronx rental portfolio since the start of this year.”