Investors Seek Safe Harbor in Chicago’s Apartment Market

Multifamily investors prefer to concentrate capital in the primary markets. Although prices are steep and cap rates low, the gateway cities offer private equity and institutional buyers the young, affluent tenants, economic diversification, deep trough of performance data and property market liquidity that can’t be found in smaller cities. Gateway cities offer these assets…until they don’t.The pandemic recession has turned the usual way of looking at things upside down. At least for …

COVID-19 Continues to Put Tenant-Landlord Relationships Under Microscope, Say Kansas City Retail Webinar Panelists

KANSAS CITY, MO. — The COVID-19 pandemic has continued to highlight the importance of strong tenant-landlord relationships, particularly in the retail sector. Tyler Enders, co-owner of local Kansas City shop Made in KC, works with roughly 10 different landlords and has experienced a variety of different approaches to the COVID-19 conversation.“Some local landlords have been very communicative and have come to us with a creative solution. Others have been responding late and are bogged …

Pandemic Accelerates Need for Omnichannel Presence, Say Retail Webinar Panelists

As the nation’s retailers adapt to more curbside pickup and outdoor offerings as a result of COVID-19, what will happen in cold-weather states like Michigan once winter hits?Panelists pondered this question during “Michigan Retail Outlook,” a webinar hosted by Shopping Center Business and Heartland Real Estate Business that took place Tuesday, Aug. 25. “We have tenants that are expanding their outdoor seating and planning ahead for winter by adding covers, plastic vinyl or …

Facility Management Will Require Changes Under New COVID-19 Regulations

Facility managers across the nation are sorting through information about the coronavirus and looking at building modifications that can prevent the spread. Owners and tenants alike in the office and retail sectors have turned to facility management professionals to help their businesses thrive under rapidly evolving circumstances.REBusinessOnline recently spoke with three facility management professionals from Lee & Associates via video conference about their company’s approach to …

JLL: Coronavirus Is Impacting Retail Supply Chains

With the stock market dropping to lows unprecedented since the Great Recession on Monday and the World Health Organization (WHO) declaring the outbreak of COVID-19 a pandemic, concerns are now rising regarding coronavirus’ long-term impact on domestic investments.But will the disease have any impact on brick-and-mortar retail? According to a research report from JLL, while retail supply chains have already been affected, the health of retail as whole depends heavily on how long the …

Strong User Demand, High Returns Keep Self-Storage Buyers Hungry

The self-storage industry started its upswing during the Great Recession as more and more Americans turned to storage units as a result of being forced to downsize or foreclose on their home, recalls Alec Pacella, president with NAI Pleasant Valley in Medina, Ohio. “That’s when the industry sparked, but it’s never stopped,” he says. There are three main reasons that the self-storage sector has continued to perform well as a commercial real estate property type, according to Pacella. …

Robust Industrial Investment Shows No Signs of Slowing

Real estate buyers spent a record-setting amount of cash in the sector in the third quarter and remain bullish on the properties amid healthy absorption and rent growth. The industrial real estate sector, traditionally known as the land of big, boring boxes, has become the darling of real estate amid the growth of e-commerce. Investors have poured hundreds of billions of dollars into industrial properties over the last five years alone, and not even the prospect of new construction …

Mall Owners Scramble to Redevelop Properties in Face of Department Store Closures

The number of retail store closures nationwide in the first half of 2019 surpassed 7,000 and is on pace to reach a record 12,000 by year’s end, according to Cushman & Wakefield. Major retail bankruptcies over the last year have caused the power and regional shopping center sector to experience continued store closures and negative absorption of 2 million square feet in the first half of 2019.That said, discount retailers, entertainment and fitness concepts are still in expansion mode …

F&B Dominates Discussion at ICSC’s Chicago Deal Making

CHICAGO — The food and beverage industry dominated much of the programming and sessions at this year’s Chicago Deal Making, hosted by the International Council of Shopping Centers (ICSC). In fact, the keynote speaker was Fabio Viviani, a celebrity chef and hospitality developer. Examples of other food-oriented workshops and panels included “How to Craft Restaurant Deals,” “From Automation to Ghost Kitchens, Understanding the Trends Reshaping F&B” and “Small Bites: New …

Subcontractors Grow More Selective as Labor Market Continues to Tighten

Rising materials costs and the shortage of skilled workers continue to pose a challenge for general contractors. In turn, these conditions have enabled subcontractors to be highly selective about the projects they are willing to accept.“For the first time in many years, we have found ourselves encountering subcontractors who have passed up on project opportunities because the reality is that resources within qualified subcontracting firmsare finite as well,” says Anthony Johnson, …

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