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CoStar wins Xceligent case, Proposals for Amazon are getting desperate & more in CRE news

CoStar wins Xceligent case

CoStar, a commercial real estate information company is suing Xceligent for copying content. Xceligent is a commercial real estate database that allegedly hired RE BackOffice Inc. to repeatedly hack Costar’s website. These illegal actions have been going on for years thus the ruling comes as a relief for CoStar.

Proposals for Amazon are getting desperate

States around the country are vying to be Amazon’s second headquarters location and 50,000 potential new jobs. Receiving 238 proposals, Amazon has a lot to consider. New Jersey offered $7 billion in tax cuts if Amazon chooses Newark, New Jersey. The proposals start getting desperate in Atlanta where Mayor Jason Lary promises 345 acres to be a city called “Amazon”. We are all anxiously awaiting their announcement scheduled for sometime next year.

Saudi Arabia and SoftBank create new city

Neom is a new business and industrial city that will be built in Saudi Arabia. Saudi’s Crown Prince Mohammed Bin Salman asked Masayoshi Son to help with the plan on Tuesday. Son believes “Neom is a fantastic opportunity“.

Target focuses on city stores

Target plans to open 130 small-format city stores by the end of 2019. Anyone who has been walking around Center City Philadelphia has noticed the new small-scale Target locations. They offer the convenience of suburban locations while maintaining a quick shopping experience. Target is not worried about competition from Amazon because they will offer home delivery and next day automatic orders.

Caterpillar revenue up 25%

Caterpillar recorded a 25% rise in revenue in its third quarter and expects $44 billion in annual revenue. The heavy machinery company has seen an influx of demand in China and North America.

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