Brandon Donnelly — Daily insights for city builders. Published since 2013 by Toronto-based real estate developer Brandon Donnelly. — Page 645

https://youtu.be/5W-zPqrGQWA

Google Earth has a feature called Timelapse that combines millions of different satellite images to show you how the world has changed over the last 37 years -- sometimes for the better and sometimes for the worse. It's a feature that's been out for a few years, but they just made it available in 3D. Some of you may have also missed the feature if you don't normally use Google Earth. So here's an overly wondrous video (also embedded above) showing off the new feature, and here is a dedicated site that allows you to quickly try out Timelapse in 2D. Dubai's "coastal expansion" is one of the places you can quickly land on and its growth over the last few decades is always mind boggling to see. But of course, there are also many other important Timelapses that should be viewed. A number of them speak to our environmental impacts on the world.

Blair Welch, co-founding partner of Slate Asset Management , was recently interviewed by Don Wilcox of RENX about the company's recent acquisition of the Commercial Real Estate Business of New York-based Annaly Capital Management. As part of the deal, we also acquired $0.4 billion of grocery-anchored real estate assets across the US. These were purchased by Slate Grocery REIT (TSX: SGR.UN). What some of you maybe don't know, though, is how we as a company view these kinds of assets as being essential food infrastructure, more so than as being retail assets. So here are a few excerpts from the article and quotes from Blair that explain why, in our view, this distinction matters.

“We started buying grocery-anchored real estate in a big way in the financial crisis and I think we always looked at grocery-anchored real estate as food logistics, rather than a retail play,” Welch explained. “In the pandemic it’s really proven the local food store, or the spoke in the hub, is just as valuable as the hub itself.”

Despite an increase in online grocery shopping (to about 10 per cent in the U.S.), people are still going to the stores. Or, at least, (are) getting their products from the local stores. Again, think “food logistics.”

“That (10 per cent bought online) means 90 per cent is done in store,” Welch observed. “Now, here’s the interesting thing. Over 90 per cent – probably closer to 95 per cent – of the online sales are done at the local store.

“So what we are saying is over 99 per cent of all the sales are done at the local stores, whether it is click and collect, or someone delivers. You are not changing the distribution pattern.”

Here are a few more words and a comparison to what Amazon is and has been doing when it comes to food logistics:

“If I’m Kroger or Walmart if I have to pay $10 (per square foot) for my warehouse what’s the difference if I’m paying $10 for my store? It’s the same cost, they just look at it as a distribution cost,” he said.

However, those stores are in the middle of most neighbourhoods. Exactly where Amazon wants to be.

“I think Amazon is an amazing company. I think their acquisition of Whole Foods and others is actually to get closer to the consumer. And the Whole Foods (acquisition) was just under 400 grocery stores in a market of 35,000 stores.

“If I am Walmart with 5,000 stores or Kroger with about the same under different banners, that infrastructure is extremely valuable.”

Slate will soon own more of it.

For the full article, click here .

I'm late to the party here, but I was reading this morning about how New York City recently completed the rollout of its One Metro New York (OMNY) fare payment system. What this does is allow you to use contactless payment systems, like Apple Pay, to get on the subway. ONMY is now available across the five boroughs on every bus and at all 472 subway stations (feel free to impress your friends at virtual parties with this stat).

Metrolinx here in Toronto is similarly piloting contactless payments on the Union Pearson Express . You now have the option of tapping a credit card, a phone, or a watch. Maybe this doesn't seem like such a big deal, but I still remember when the PRESTO payment card was first rolled out -- it felt late to me. Apple added near-field communication (NFC) to iPhone in 2014, and at that point I think it was fairly obvious that standalone payment cards wouldn't be around much longer.

That time has arrived for New York City and will be hopefully arriving shortly for Toronto. And I think it will be particularly useful for tourists who may not have a Metrocard (NYC) or PRESTO card (Toronto) and just want to jump on a train. I've only taken the subway a handful of times during this pandemic, but I'll be back at it once the world fully resumes. And I definitely can't wait to take the UP Express to the airport again (and to the Junction ).