Here are some recent news and notes on retail and retail real estate from over the weekend.
- Back-to-school sales are turning out to be pretty disastrous. This doesn't bode well for the holiday shopping season.
- Westfield Group received commitments in Asia of more than $1.4 billion for a $1.25 billion loan it was seeking.
- Portfolio.com has a look at how trouble in commercial real estate could hurt the economic recovery.
- Thompson National Properties is moving ahead with plans to launch a new non-traded retail REIT. TNP is offering $1 billion in common stock to the public at $10 per share.
- According to Commercial Real Estate Direct, TALF seems to be having some effects in reviving the commercial-mortgage backed securities market. Real Estate Bloggers also pointed to hopeful signs of recovery in commercial real estate lending.
- New data shows that U.S. commercial real estate market values fell by more than 17 percent in the first half of the year. These numbers come from Investment Property Databank and add to the lists of reports from various indexes showing steep drops in commercial real estate values in recent months.
- In an interesting anecdote indicative of current retail trends, a local, renowned piano seller in Tallahasse, Fla., is moving back into a mall after spending the last couple of years in a street front location. The retailer is taking over a dark Lane Bryant space. It is one of 17 Steinway Piano Galleries in the United States.
- In a guest post at Naked Capitalism, Edward Harrison of Credit Writedowns argues that consumer spending will remain weak for years.
- CRE Review looks at distressed commercial real estate by the numbers.