NorthPoint Logistics will redevelop Jamestown Mall in St. Louis County, Mo., as a logistics center. The company was the only one to offer a proposal for the indoor retail space; it will pay $2.5 million for the space.
US companies raised their expenditures in the first quarter on items including premises, equipment and other capital goods at a rate on track to be the fastest since 2011, according to data from Credit Suisse. However, some investment strategists and academics argue that investors are more likely to prioritize steady returns and dividends over a company's own capital investment.
Banks are easing terms and conditions on their real estate lending in response to competition from both bank and nonbank sources, according to Federal Reserve's quarterly survey of senior loan officers. The survey noted that demand for real estate loans was weakening, a finding also reflected in the most recent CBRE Lending Momentum Index.
Mortgage originations are expected to decline by 2% this year due to rising interest rates and slowing NOI growth, according to the Mortgage Bankers Association. Multifamily lending is also predicted to drop this year by 3%.
Multiple analysts who track the REIT industry say that fundamentals for the space are solid and valuations are very attractive. Interest rates, economic growth and inflation are issues that analysts will be watching in the second half of the year.
As they plan and build out their pipelines, residential REITs are taking into account changing trends in how people live and drive. Such considerations range from carefully calibrating how many parking spots a project will have to providing high-speed connectivity as an amenity.
Census data from 2008 to 2018 show that clothing retailers have made more money off men than off women. "I think it is possible that women are gravitating more to online shopping while men still buy in the store," said Neil Dutta of Renaissance Macro Research.
CBL Properties has announced redevelopment plans for Jefferson Mall in Louisville, Ky. Plans include transforming an old Macy's building into a Round1 Bowling & Amusement venue and redeveloping a Sears building for dining, retail and entertainment.
The buyer for Chesterfield Mall in Chesterfield, Mo., will soon be decided, as an undisclosed number of potential buyers sent in their final offers May 9. C-III Capital Partners "took control of the mall through foreclosure in mid-2017," this article states; the mall's appraised value is $12.4 million.
Amazon has begun its program offering discounts to Prime members on many items at Whole Foods Market, as well as 10% off special sale items. The program has launched in Florida stores and will expand to other areas this summer.