Toys R Us has teamed with startup b8ta on its return to brick-and-mortar retail in an effort to shore up its relationships with vendors that were strained during the toy retailer's 2017 bankruptcy. With b8ta, Toys R Us will focus on experience and analytics in its new stores, and vendors will have more control over product displays.
Commercial real estate investors are increasingly targeting nursing homes, according to research from the National Investment Center for Seniors Housing & Care and, separately, from CBRE. "We are seeing more and more capital chasing the space -- yields continue to be very attractive," says Ben Firestone, senior managing director at Blueprint.
In what has been dubbed the "halo effect," brick-and-mortar stores have been found to offer a boost to online sales and vice versa, according to new research from the International Council of Shopping Centers. It found that when a shopper spends $100 online and then goes to the brick-and-mortar store within 15 days, he will spend an additional $131; when the shopper starts buying in the physical store, he will ultimately spend $267 within 15 days by also visiting the online site.
Pebblebrook Hotel Trust is partnering with the Margaritaville Island Resort San Diego on a $35 million renovation that will convert its Paradise Point Resort and Spa into Jimmy Buffets' Margaritaville brand. The rebranded hotel will feature 462 casita-style, single-story guest rooms with Margaritaville food and beverage offerings.
Michael Schall, president and CEO of Essex Property Trust, says rental affordability has become a growing concern on the West Coast as rents outpace income growth. He also noted that construction costs are a big factor when building a development pipeline; and when construction costs grow faster than rents, yields can be squeezed.
To position its portfolio for the retail evolution, Kimco Realty Corp. has concentrated its portfolio in the top 20 metro markets, says CEO Conor Flynn. The REIT also looks at the highest and best use of its real estate in these markets and often will mix uses between apartments, hotels, and retail.
Wicker Park Capital Management acquired a 169,515-square-foot shopping center in Louisville, Ky, from Hendon Properties and Harbert United States Real Estate Fund VI. The property, Westport Village, went for $30.3 million.
The owners of California's Alameda South Shore Center have submitted a proposal to build as many as 1,215 apartments on the property. Shops and other businesses would stay at the retail center if the apartments are built.
A new studio space called Live 360° opened at Michigan's The Mall at Partridge Creek over the weekend. The space will hold classes, workshops and demonstrations dedicated to a wide variety of interests and offer free events like chocolate samplings, arts and crafts activities, dog photos and wellness sessions.
Walmart is continuing to make executive changes as it works to integrate physical and digital operations, according to an internal memo. The retailer is merging its e-commerce and greater US finance teams, as well as its supply chain groups, with Greg Smith set to lead the newly integrated supply chain team.
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