California ballot and CRE, New Yorkers driving suburban buying frenzy, cannabis business and COVID-19, some intel on Iron Mountain and other storage REITs.
In Today's News
California Ballot Contains Multiple Issues of CRE Interest
Changes in valuations of commercial and industrial properties, residential property tax rules, and rent control are on the Golden State's ballot in November.
Why it matters: California is one of the world's largest economies all on its own. What happens in commercial real estate there can easily impact investors everywhere.
New Yorkers Fleeing to the Suburbs Cause "Insane" Demand
Since the pandemic began, the suburbs around New York City have seen enormous demand for homes of all prices, a surge that is unlike any in recent memory, The New York Times reports.
Why it matters: A seller's market that has homes bought unseen and multiple cash offers is making it tough for investors to find a flip, but it's also an opportunity to sell more easily and profitably than one would have expected several months ago.
The Cannabis Business Is Proving Resilient to the Pandemic
A range of stakeholders in the legal pot industry share with National Real Estate Investor their views on why their niche is doing so well right now -- including recreational use being on the rise simply due to stress -- and what that might mean for commercial real estate investors.
Why it matters: Recreational marijuana is now legal in 11 states, medical marijuana in 33. If you think those numbers are going to grow, consider investing in the growers. We'll be watching that space, too, so keep an eye out for continuing cannabis coverage on Millionacres.
Today on Millionacres
Is Iron Mountain Stock a Good Fit for a Retirement Portfolio?
Millionacres' Matt Frankel assesses how this big daddy of physical data storage is making the move to digital and whether that's happening fast enough to keep this real estate investment trust (REIT) attractive in the long run.
Why it matters: Matt lays out how he could see this stock -- which currently yields an impressive 8.3% -- as a good fit for a retirement portfolio, if you don't mind some risk tolerance.
3 Top Self-Storage REITs to Buy Right Now
Self-storage facilities have been around for decades -- but demand for additional storage space is going up. This has made self-storage an increasingly popular CRE investment.
Why it matters: Low construction costs and overhead make this sector an appealing play, but not all companies are the same. This breakdown of three self-storage REITs by Millionacres' Liz Brumer can help you decide whether it's right for you.