Hubert Joly led a makeover of almost every part of Best Buy after taking the reins as CEO in 2012, and his efforts have paid off in higher sales. To compete with Amazon, the electronics retailer launched a price-matching plan, invested in customer service and shortened delivery times for online purchases by fulfilling orders from the closest location.
Three closely held Hungarian companies are expected to set up REITs next year on the Budapest Stock Exchange, according to Rita Szalay, director of the exchange's listing division. The country amended a 2011 REIT law, which went into effect in June and made it easier to raise money for new projects.
The Securities and Exchange Board of India is now allowing REITs and infrastructure investment trusts to issue bonds in addition to raising funds through equity. The regulator also tweaked the rules to allow single-asset REITs and to permit strategic investors to participate in REITs.
Well-prepared and heavily fortressed data centers rode out Hurricanes Harvey and Irma, keeping the Internet and cloud up despite the storms' destruction. "Everyone was talking on their phones, searching on their phones, and commerce that uses the internet to do their business was up and running," said Jeff Eassey, a manager for Digital Realty, who rode out the worst of Hurricane Irma hunkered with his staff in the Miami data center.
Retail landlords will begin hosting a number of season-specific activities and events, such as ice rinks, fire pits and tree-lighting ceremonies, with the goal of increasing foot traffic -- even though some activities reduce the space available for tenants. "You can still have a vibrant place even in the winter time," says Don Briggs, executive vice president of development at Federal Realty Investment Trust.
CoStar queried hundreds of commercial real estate professionals about where they believed Amazon's new headquarters will be located. The anecdotal consensus was that Austin and Dallas were the most likely markets, followed by Atlanta and Nashville.
US housing starts dropped 0.8% to a seasonally adjusted annual rate of 1.18 million units in August, the second straight month the metric has dropped, the Commerce Department reports. However, building permits rose 5.7% to 1.30 million units.
Retailers will face fierce competition for seasonal employees this year, as many retailers plan to offer consumers incentives to spend more in-store, says coaching firm Challenger, Gray & Christmas. Many seasonal workers will also be needed in warehousing and transportation sectors related to holiday retail as consumers turn to virtual shopping.
Elanor Investors Group has purchased Bluewater Square, a Woolworths-anchored property in Redcliffe, Queensland, Australia, for $43.9 million. Private equity group Alceon was the seller.
Westfield Century City in Los Angeles is undergoing a $1 billion modernization, and Apple will be part of that, with a new location in the center of the retail property. It will include the company's updated design, with a likely opening by spring.
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