- There Will Be More Retail Stores Opening Than Closing in 2017 “You read the headline right, there are more retail stores opening this year than there are stores closing. You may say, but when I walk down almost any shopping street, I see so many vacancies where there were previously tenants, so... how can there be more openings than closings?” (Forbes)
- JPMorgan, U.S. Banks Face $3 Billion of Loan Losses from Catastrophic Hurricanes “Eight banks could see $156 billion of loans affected by the pair of storms over the next 12 months, Goldman Sachs analysts wrote Monday in a report. Losses on Harvey-affected lending could range from $600 million to $1.1 billion, and Irma could inflict another $1.2 billion to $1.9 billion.” (TheStreet)
- Smaller American Cities Are Attracting Investment Capital from Overseas “There are four simple rules about capital investment, especially in commercial real estate: It will flow to where it's most wanted, where it's respected, where it's safe, and where it has the highest probability of market-rate adjusted returns. And that’s exactly what’s driving international capital into commercial real estate right now in the U.S., in ways that will impact everything from rents to the eventual shape of our skylines.” (Business Insider)
- How Cities Can Win the Fight for Amazon’s HQ2 “Amazon—the world’s largest online retailer and fourth largest company as measured by market capitalization—is soliciting North American regions in a competitive selection process for a second corporate headquarters, or HQ2.” (Fortune)
- Rue 21’s Reorganization Plan Gets Court OK “The teen apparel retailer announced that the U.S. Bankruptcy Court for the Western District of Pennsylvania confirmed the company's plan of reorganization, which clears the way for rue21 to emerge from the bankruptcy process after less than four months.” (Chain Store Age)
- Capital One Closes Jamestown’s 88 Leonard Street Refi With $145 Million Bond Purchase “Capital One Municipal Funding purchased $112.5 million in tax-exempt bonds, and Capital One purchased $32.5 million in taxable bonds issued by the New York State Housing Finance Agency to finance the Tribeca property.” (Commercial Observer)
- SL Green, Vornado Seal Massive CMBS Deal at 280 Park “SL Green Realty and Vornado Realty Trust’s loan for 280 Park Avenue will be securitized in a $1.1 billion offering, according to regulatory filings reported by Fitch on Monday.” (The Real Deal)
- Jerry Gottesman, Co-founder and Chairman of Edison Properties, Dies “A Newark native and Morristown resident, Gottesman died of natural causes while visiting Israel. He will be flown back to New Jersey for burial, according to an Edison spokesperson.” (NJBIZ)
- Toys “R” Us’ Potential Bankruptcy Threatens $3.6B in CMBS “If Toys “R” Us chooses to file for bankruptcy protection as a means of unburdening itself from its significant debt, the retailer could place $3.6 billion in commercial mortgage-backed securities loans at risk, according to a report by Morningstar Credit Ratings.” (Commercial Observer)
- From Textiles to Tech: How the Charlotte Region Is Using Data Center Development to Boost Its Economy “When the Charlotte area's once-booming textile industry began to diminish, it left behind high-tech property and put pressure on the region to adapt or die.” (Bisnow)
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