lord and taylor

10 Must Reads for the CRE Industry Today (May 16, 2018)

Investors have been giving REITs, which have underperformed for the past two years, another look, the Wall Street Journal reports. Retail rents in New York have dropped in some corridors over the past year, according to the New York Post. These are among today’s must reads from around the commercial real estate industry.

  1. Long-Suffering REITs Might Be Turning a Corner At Last “U.S. REITs have been underperformers for the past two years—but as merger activity increases, some investors are giving them a look.” (Wall Street Journal, subscription required)
  2. New York Retail Rents Go Down Amid Vacancy Worries “Retail rents dropped like a stone in some places over the last year but have now stabilized in several shopping corridors and even have risen in some spots — and the Real Estate Board of New York has the proof.” (New York Post)
  3. U.S. Retail Sales Post Second Straight Gain “Sales at U.S. retailers rose in April for the second straight month, adding to evidence the economy has sped up again after a slower start to the year.” (MarketWatch)
  4. California Apartment Landlords Dump Properties Ahead of Rent Control Vote “A push to expand rent control in California is sending a chill through the state’s apartment industry, prompting more investors to sell properties or hold off on buying.” (Wall Street Journal, subscription required)
  5. Walmart and Lord & Taylor Ready for New Web Store RolloutWalmart and Hudson’s Bay’s Lord & Taylor are preparing to roll out a new shopping experience on Walmart.com.” (CNBC)
  6. One Factor Behind the Bid-Ask Gap “As private equity shifts away from opportunistic returns to focus on more core strategies their cost of capital will come down and buyers will be more willing to meet sellers on price, says PwC’s Real Estate Deals Leader Tim Bodner.” (com)
  7. Target in Major Expansion of Same-Day Delivery—And Lowers Fees “Target Corp. has made a big move against its rivals in the home delivery war.” (Chain Store Age)
  8. Landmark Office Building One Broadway Sold for $140M “Number One Broadway, a landmarked office building at the tip of lower Manhattan, is being sold to Midtown Equities for $140 million.” (New York Post)
  9. Will Related’s New Plan for Chicago Spire Site Measure Up? “The Chicago Spire is just a memory now, but its shadow will loom large over a meeting tonight, where a Chicago developer will unveil a new plan for the site of the unbuilt riverside skyscraper.” (Crain’s Chicago Business)
  10. Missouri Man Pleads Guilty to Multi-Million Dollar, OC-Based Real Estate Scheme “A Missouri man has admitted to running an Orange County-based real estate scheme that bilked dozens out of an estimated $3.4 million.” (The Orange County Register)
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