Amazon has begun hiring construction managers and marketers for its Amazon Go store concept, signaling that it's ready to begin making the cashier-free store available to the public after a year of testing by employees, sources said. The concept uses sensing technology and a mobile app to identify customers and charge them for their purchases as they exit the store.
Dimensional Fund Advisors co-founder John "Mac" McQuown predicts the popularity of passive investment strategies will only increase, citing results and satisfaction among investors.
Starting Jan. 1, Amazon will collect sales tax from marketplace sellers who sell to people in its home state of Washington, per a new state law. It will be the first time Amazon has had to collect sales tax from its merchant sellers, but as states become more aggressive in their efforts to claim online taxes, it could be the start of a trend.
Industrial portfolio sellers are being tempted back into the market, where they can expect to receive premium pricing. "We know there are new portfolios back on the market that will sell for $2 billion or more, so there's a good chance we'll end year on a positive note in terms of sales volume, and we expect 2018 will start out on a strong note," says Rene Circ of CoStar Portfolio Strategy.
Preferred Office Properties, a subsidiary of Preferred Apartment Communities, has acquired a two-building complex with 257,700 square feet of office space in San Antonio, Texas, for $58 million. The trade is one of the largest for the market this year.
The almost 121,000-square-foot Metropolitan Square shopping center in Des Plaines, Ill., near Chicago was sold to a private buyer for $13 million. The property is a lifestyle center anchored by a grocery store and features a diverse tenant mix.
The Gilbertsville Shopping Center near Philadelphia was acquired by Westover for an undisclosed price. The grocery-anchored, 85,576-square-foot property was 95% leased when it sold.
The top retail trend predictions for 2018 include shopping centers incorporating unique customer experiences such as beauty services, personal stylists and on-site tailoring, according to Richard Shapiro. Other forecast trends include more retailers offering lifestyle and health programs, making shopping areas destinations and providing convenient delivery services.
Whitestone REIT recently opened phase three of The Shops at Starwood in the Texas city of Frisco. More than 10 eating establishments and shops are signed as tenants, including Up Inspired Kitchen and Trend Empire.