ATLANTA — The 32nd annual Hunter Hotel Investment Conference, slated to take place at the Atlanta Marriott Marquis from March 18 to 20, has been postponed as part of a concerted effort worldwide to contain the spread of COVID-19, the illness caused by the coronavirus. The conference presenter, Atlanta-based Hunter Hotel Advisors, says it will identify alternative dates for the event. An education and networking event for hotel investors, the conference attracted more than 1,850 attendees from across the Southeast and beyond in 2019. A note posted to the conference website Thursday afternoon read in part: “After the unprecedented events of the past 24 hours, and with an overabundance of caution for everyone involved, we have made the difficult decision to postpone/reschedule the Hunter Conference. We know at times like this it is important to meet and discuss current issues, but given the circumstances it doesn’t seem appropriate.” The number of coronavirus cases topped 125,000 worldwide as of Friday morning. Leaders across the United States are banning large gatherings to thwart the spread of the illness. In response to the growing coronavirus pandemic, President Donald Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance …
REBusinessOnline has compiled a number of commercial real estate industry reports and webinars to help readers find the information they need regarding coronavirus (COVID-19) and commercial real estate. The reports are organized by relevance and timeliness. (This page is no longer updated as of June 1, 2020.) Interested in coronavirus-related news items posted by REBusinessOnline? Click here for the feed. Interested in commercial real estate-related webinars focusing on responses to the pandemic? Click here for the list. Webinars Student Housing Business Up Close with Bill Bayless (05/04/2020) How to Maintain Leasing Velocity in Today’s Environment (04/30/2020) COVID-19 & the Impact on Student Housing: The CEO Perspective (04/17/2020) The Impact of COVID-19 on Student Housing (03/25/2020) Marcus & Millichap Marcus & Millichap Special Update: Multifamily Legislation (05/13/2020) The Shape of Things to Come: How Will the Economy and Retail Real Estate Look After the Global Health Crisis? (05/18/2020) InterFace Conference Group Seniors Housing Marketing and Sales During the Pandemic and Beyond (Upcoming 05/20/2020) California Retail Reboot — How Will California’s Retail and Restaurant Sector Recover Post-Coronavirus? (05/21/2020) Atlanta Retail Reboot (05/08/2020) Texas Retail Reboot (05/07/2020) The Short- and Long-term Impact of COVID-19 on Healthcare and Medical Office Real Estate (04/14/2020, Fee is …
NEW YORK CITY — In a dramatic move, the International Council of Shopping Centers (ICSC) has postponed its annual RECon event over rapidly escalating concerns about COVID-19 (coronavirus), according to an announcement posted today on the trade association’s website. In 2019, more than 37,000 industry professionals descended on the Las Vegas Convention Center for the annual retail and real estate networking event, which featured 1,200 exhibitors and 853,000 square feet of exhibit space. In addition to postponing RECon, ICSC has suspended all of its events through June 30 of this year and is currently evaluating alternative dates for RECon. Registration, exhibitor and sponsorship fees will automatically roll over once the new date is announced or can be credited toward any future ICSC event, according to the organization’s website. At this time, fall events, including New York Deal Making, are scheduled to proceed as planned.
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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 pandemic lasts. Certain sectors have already been impacted, and those in the industry can model their current economic outlook on the course SARS (severe acute respiratory syndrome) took in 2003. However, whether that model will hold as the pandemic evolves remains to be seen. The JLL report explains that the type of short-lived and limited outbreak created by SARS mainly affects the “first and second quarters with many retailers feeling impacts of a disrupted supply chain, but with a subsequent rebound in the following quarters.” Sectors already affected include inventory and complex supply lines. Chinese-manufactured goods may not be able to reach retailers in the coming weeks to months, as the retailers’ existing supply diminishes. Fashion stocks, especially for luxury retailers dependent on Chinese consumers …
WASHINGTON, D.C. — The U.S. economy added 273,000 nonfarm payroll jobs in February, the Bureau of Labor Statistics (BLS) reported Friday. Economists surveyed by The Wall Street Journal had forecast an increase of 175,000 jobs. The unemployment rate remained unchanged from January at 3.5 percent. The BLS revised both January and December 2019 job totals up by a combined 85,000 jobs. The BLS now reports December added 37,000 jobs for a total of 184,000. January’s total stood at 273,000 jobs, up 48,000 from the original report. After revisions, job gains have averaged 243,000 per month over the past three months. Food services and drinking places added 53,000 jobs in February. Employment in the industry has increased by 252,000 over the past seven months, following a lull in job growth in the sector in the first half of 2019. The leisure and hospitality sector added 51,000 jobs, though it is worth noting that the BLS expects disruptions caused by the coronavirus to be reflected in the March jobs report. The healthcare sector added 32,000 jobs in February. Retail trade lost 7,000 jobs. Transportation and warehousing lost 4,000 for a net loss of 16,000 jobs in the early part of 2020. In February, average …
ATLANTA — “Irksome” geopolitical factors such as Middle East flare-ups affecting oil production and capacity, kinks in the trade deal with China, post-Brexit uncertainty and the coronavirus, can all throw curveballs at 2020 economic growth prospects, says Rajeev Dhawan, director of the Economic Forecasting Center at Georgia State University’s Robinson College of Business. Dhawan says he worries most about the coronavirus due to the unknown nature of how long it will affect the world market. The biggest economic problem now, says Dhawan, is that Chinese factory workers are stuck at home due to the virus. “Unlike a finite event, such as a hurricane or earthquake, the coronavirus is still playing out, making it hard to assess economic impact,” explains Dhawan. “China is a vital part of the world’s supply chain for goods ranging from toys to iPhones. For an economic impact to happen, this disruption would need to last awhile, say until mid-April. When inventories run out, what will Amazon sell here? What will Apple and Samsung do?” Dhawan released his economic forecast Wednesday, Feb. 26 during his Forecast of the Nation, held at GSU’s Robinson College of Business in downtown Atlanta. Georgia Job Momentum Lags Dhawan also spoke about …
As our economy fades out of one decade and cruises into the next, a look in the rearview mirror reveals more than 10 years of expansion and 10-year GDP growth in excess of 26 percent. Sean Beuche, Marcus & Millichap The Philadelphia and Northeastern retail investment sales markets should be both thankful for progress made and road bumps navigated and mindful of several current trends affecting transactions and challenges looming on the horizon for owners and tenants of single and multi-tenant retail assets alike. Savvy Investors enter 2020 with the wind at their backs in many respects while also facing some familiar and unconventional challenges ahead. The 3.7 percent unemployment remains near a 50-year low, meaning that consumers are gainfully employed with money to spend. Mixed-use developments that capture the live-work-play lifestyle are ubiquitous and keep placemaking everywhere they spring up. Millennials and baby boomers alike are demanding walkable communities and opportunities to spend more of their money closer to home via dining out, signing up for memberships at gyms and fitness centers. Both these groups are enjoying the experiential retail that every landlord desires in their centers and portfolios. Stocks of publicly traded retailers like Target, Walmart, and Home …
SAN DIEGO — The U.S. economy is likely to take a hit this year from the effects of geopolitical uncertainty and a global recession in the manufacturing sector, according to Michael Fratantoni, chief economist for the Mortgage Bankers Association (MBA). His forecast calls for U.S. GDP growth of 1.2 percent in 2020, down from 2.2 percent in 2019, and for job growth to dip from a monthly average of 175,000 last year to 150,000 this year. The unemployment rate, which currently stands at 3.6 percent and is near a 50-year low, is expected to reach 3.9 percent by year’s end. The wave of tumultuous events on the world stage have come fast and furious, the veteran economist observed. “Just recently you had the situation with the assassination of [Iran’s General Qassem Soleimani] and ballistic missiles being fired across the Middle East. Now we have got the coronavirus. We just concluded an impeachment trial. We have a presidential election. The trade wars of 2018 and 2019 are perhaps simmering down a little bit, but still a concern and still impacting a lot of decisions by private actors out there.” Such conflicts pose a threat to what has been a “remarkable” run …
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