10 Must Reads for the CRE Industry Today (March 30, 2015)

10 Must Reads for the CRE Industry Today (March 30, 2015)

 

  1. Fed Chair Yellen: Rate Increase ‘May Be Warranted Later This Year’ “In prepared remarks for delivery at a San Francisco Fed conference, Yellen said it was not essential to see a rise in core inflation before raising interest rates. She suggested that a weakening in inflation or wages, on the other hand, would hold the central bank back from the first rate hike in 9 years.” (CNBC)
  2. Union Asks Missouri to Block REIT’s Bid for Pinnacle Casinos “A union representing casino workers asked Missouri regulators to oppose the proposed purchase of Pinnacle Entertainment Corp.’s casinos by real estate investment trust Gaming & Leisure Properties Inc., saying the deal would be anticompetitive.” (Bloomberg)
  3. American Realty Capital to Pay Dividend Later This Year “American Realty Capital Properties Inc., which last year disclosed that accounting errors were intentionally concealed, plans to start paying a dividend later this year. Adjusted funds from operations for the fourth quarter amounted to $205.5 million, or 22 cents a share, compared with $70.5 million, or 26 cents a year earlier.” (Bloomberg)
  4. Financial Sector Growth Exceeds Expectations, Bolsters Office Demand “The financial services sector added more jobs in February and added more jobs in 2014 than previously expected. The sector, which is among the city’s biggest users of office space, added 3,600 jobs between January and February of 2015. (The Real Deal)
  5. Why the Suburbs Will Never Be the Same “The way we live is rapidly shifting and what we call suburbs today will be completely different in a few years. USC Lusk Center for Real Estate director Richard Green says suburbia isn't dying, but he did get some insight from local real estate execs on how it's changing.” (Bisnow)
  6. Giant Ford Dealership Could Sell for $230M “Ford Motor Co. has put a building on the far West Side on the market in a sale that could fetch $230 million or more. The price tag for the property, 787 11th Ave. between West 54th and West 55th streets, is more than triple what Ford paid to buy and renovate it in 1997.” (Crain’s New York Business)
  7. Retailers Ramping Up Expansion “From extreme value discounters to c-store operators, retailers across the board are expanding their brick-and-mortar portfolios in 2015. Here’s a review.” (Chain Store Age)
  8. Prudential Mortgage Provides Financing for 4 West Coast Shopping Centers “Donahue Schriber Realty Group recently snapped up four Class A grocery-anchored shopping centers totaling 666,000 square feet in California and Washington with the assistance of Prudential Mortgage Capital Co. Prudential came through for the real estate company with financing totaling $118.5 million.” (Commercial Property Executive)
  9. Aldi to Reopen 30 Bottom Dollar Sites “Aldi U.S. said Friday that fewer than half of the 66 Bottom Dollar stores it acquired from Delhaize will reopen as Aldi stores. The announcement came as the companies completed the $15 million deal which was first announced late last year.” (Supermarket News)
  10. What Does It Take to Revive a Dead Mall? “Azalea Mall, Eastgate Mall, Cloverleaf Mall. All had their optimistic beginnings. All had their thriving years. All had their declines into ineffectiveness as attempts to remain relevant stumbled in a changing retail landscape. Can all three come back? One of them offers a model for reviving a mall.” (Richmond Times-Dispatch)
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