Commercial Real Estate
Top stories summarized by our editors
8/20/2019

The opening this fall of Nordstrom's first full-line women's flagship in Manhattan is the culmination of the Seattle-based luxury retailer's seven-year plan to revamp the iconic brand. The retail scene has changed significantly since the start of the plan and New York City has already become the retailer's biggest market for online shoppers.

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Nordstrom
8/20/2019

Economists expect Federal Reserve Chairman Jerome Powell to suggest the central bank is receptive to further interest-rate decreases when he speaks Friday at an annual gathering in Jackson Hole, Wyo. Powell is scheduled to speak on challenges confronting monetary policy.

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Jerome Powell, Federal Reserve
8/20/2019

Toronto-based Catalyst Capital Group has acquired a 10% stake in Hudson's Bay Co., for about $141 million. The acquisition could block a plan by Richard Baker for taking the parent of Saks Fifth Avenue and Lord & Taylor private.

8/20/2019

IWG PLC, is a Zug, Switzerland-based coworking provider that rivals WeWork with its model and footprint. Comparing the two companies is leading to questions about WeWork's path forward and its valuation, as IWG's US unit filed for chapter 11 bankruptcy in the early 2000s and has a market capitalization that's about one-tenth of WeWork's $47 billion private valuation.

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WeWork
8/20/2019

The all-property CMBS delinquency rate dropped 22 basis points in July from the previous month, according to both Trepp and Fitch Ratings. The ongoing resolution of legacy loans is the driver behind the falling delinquency rate, according to Trepp researchers.

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Fitch Ratings, Trepp
8/20/2019

Duke Realty has sold six office buildings in East Point, Ga., for $33.2 million or $111.25 per square foot, in an all-cash transaction. The 298,433-square-foot portfolio traded to Savlan Capital.

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Duke Realty
8/20/2019

ShopOne Centers REIT has acquired a 65,970-square-foot shopping center in Long Island,N.Y., for $17 million. This is the REIT's first shopping center acquisition in New York.

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ShopOne Centers
8/20/2019

There are about $33 billion in apparel, shoes and hats subject to a 10% tariff on Chinese imports that will start next month. Many industry watchers believe the tariffs will lead to more store closings, but some say the effects will take years to occur.

8/20/2019

Hubbard's Commons in Long Island, N.Y., has been sold for $17 million. The 65,970-square-foot property was 98% leased at the time of sale to tenants like Rite Aid Pharmacy and Best Market.

8/20/2019

Centerville Place in Ohio will soon embark on a $130 million mixed-use redevelopment plan. Current tenants include Bath & Body Works, Great Clips, Lock 27 Brewing and La Pinata Mexican Grill & Bar and will be given the opportunity to stay at the new facility upon completion in 2020.