This week, August doldrums continued in the world of retail real estate, with no major transactions being reported. Nevertheless, there have been some encouraging news items coming from selected retailers and intriguing takes on what the future holds for our industry.
- Several newspapers reported that Apple is now planning its fourth store in New York City. Apple already operates three supremely successful stores here, including locations on Prince Street in Soho, on Fifth Avenue and on 14th Street.
- The Big Picture provided a ranking of banks' commercial real estate loan holdings.
- Real Property Alpha published an interview with Jay Rickey, who runs citybiz real estate, an online commercial real estate news service. It's part of a series of interviews John Reeder is doing with his list of the top 100 Twitterers in commercial real estate.
- The New York Times ran a feature on Inland Real Estate Acquisitions, which has been the most active buyer of U.S. commercial real estate so far this year.
- The Wall Street Journal expects REITs to pick up the pieces from the current market downturn.
- Australian listed property trust the Westfield Group reported a decline of A$2.47 billion in the value of its portfolio in the first six months of the year.
- In a more positive development, apparel retailer Jos. A. Bank announced it planned to open up to 40 new stores in the next year.