Commercial Real Estate
Top stories summarized by our editors
5/26/2017

There is an upside, or silver lining, to the upheaval in the retail real estate market right now, says Brad Friedlander, portfolio manager for Angel Oak Capital Advisors. "The deals that are out there are trading on secondary markets pricing better than they were at the beginning of the year," he says.

5/26/2017

Earlier this year, Merrie Frankel, a longtime REIT analyst with Moody's Investors Service, launched Minerva Realty Consultants in affiliation with RCLCO, a real estate advisory firm with offices in Washington, D.C., and Los Angeles. "Minerva is unique in providing independent consulting services to assist companies pursuing credit ratings and capital structure analysis for REITs contemplating accessing the public markets or ratings," she says.

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REIT magazine
5/26/2017

Caesars Entertainment will exit bankruptcy this year with an eye to growth. The company is refurbishing more than 23,000 hotel rooms in Las Vegas, and has its eye on developing some of the 100 acres of underutilized real estate and open space near the Strip into shopping, entertainment or convention space.

5/26/2017

Camden Property Trust's co-founders Keith Oden and Ric Campo, who is also the REIT's CEO, recognized from the start that a healthy corporate culture would be essential for growth. "We have always believed that people are our greatest asset and that having the right team united and committed to achieving common goals is the best way to ensure success for Camden and all of its stakeholders," Campo writes.

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REIT magazine
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Camden Property Trust, Ric Campo
5/26/2017

Senators have asked the Government Accountability Office to investigate how the Committee on Foreign Investment in the United States judges foreign investment in real estate in the wake of an unprecedented level of acquisitions by Chinese investors. "Foreign investors are pouring more and more money into the US real estate market, and yet the trail behind these transactions is often shrouded in secrecy," said Sen. Ron Wyden, D-Ore.

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CoStar Group
5/26/2017

At RECon in Las Vegas this week, retail center owners were confident that while the industry is going through a significant disruption, key opportunities exist especially in the repositioning and recapturing of store space. "The next decade is going to be all about mixed-use and redevelopment, creating an urban feel in a suburban location," said Garrick Brown, vice president of Cushman & Wakefield.

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CoStar Group
5/26/2017

Buffalo, N.Y.-area shopping centers are struggling to remain open with department stores such as Macy's and JCPenney shuttering, creating hundreds of thousands of square feet of empty retail space in Erie County. Other trends affecting the area include a reduction in teen apparel retailers, with some shuttering for good.

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retail space, Macy, JCPenney
5/26/2017

Time Equities has purchased College Square Mall and Foothills Mall in Tennessee for $53.5 million. CBL & Associates Properties sold the properties, which have more than 700,000 square feet combined, plus stable anchors and rising tenant sales.

5/26/2017

COR Development Co. will build a 12,500-square-foot building at Towne Center in Watertown, N.Y. The building will have an undetermined number of stores.

5/25/2017

Amazon will open its seventh bookstore and its first in New York City today, in the middle of Manhattan's publishing district. The 4,000-square-foot store in Columbus Circle sits near the site of a former Borders store and close to the headquarters of three high-profile publishing houses.