Commercial Real Estate
Top stories summarized by our editors
5/20/2019

A Whole Foods Market store in New York City is the test site for a convenience store concept called Whole Foods Market Daily Shop. Local and organic products are paired with the ease of a convenience store, and shoppers can make their own acai bowls or get seasonal kombucha on tap.

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Business Insider
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Whole Foods Market
5/20/2019

US consumer sentiment in early May climbed to the highest level since 2004 as Americans became more optimistic about the economy. The University of Michigan's consumer-sentiment index reached 102.4, compared with 97.2 in April, based on data collected before US-Chinese trade talks became contentious.

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CNBC
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University of Michigan
5/20/2019

The National Association of Realtors' chief economist, Lawrence Yun, said he expects commercial real estate prices to rise for the next year, then even out in 2020. The multifamily and industrial asset classes are the best-performing, with cap rates trending at 5% to 6%, he says.

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NAR, Lawrence Yun
5/20/2019

Mack-Cali Realty Corp. has terminated settlement discussions with dissident shareholder group Bow Street LLC. Bow Street recently launched a proxy fight after its proposal to financially restructure and sell the REIT was rejected.

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Mack-Cali Realty Corp.
5/20/2019

Weyerhaeuser Co. is among the largest US REITs, with a market cap of about $20 billon. Despite its size, President and CEO Devin Stockfish spends time engaging with the company's employees, including its foresters, log truck drivers and the people who work at the mills.

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REIT magazine
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Weyerhaeuser Co.
5/20/2019

Host Hotels & Resorts has put two Marriott Suites properties in Chicago's suburbs up for sale, as the REIT apparently looks to exit the market. The hotels are part of a six-asset portfolio with an estimated value of $325 million that Host Hotels wants to sell.

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Host Hotels, REIT
5/20/2019

Entities like social-purpose REIT Housing Partnership Equity Trust are among the leaders tackling the affordable housing crisis with partners such as Eden Housing, a nonprofit. Affordable housing has become a national concern, says John Pawlowski, a senior analyst at Green Street Advisors, who adds, "The political pressure will build until the cycle breaks and rents go down."

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REIT magazine
5/20/2019

Trademark Property Co. has been tapped to develop a master plan for the 1.7-million-square-foot Memorial City Mall in Houston. The announcement comes just over six months after Sears pulled out of the property.

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Trademark Property Co., Sears
5/20/2019

Halvorsen Holdings is embarking on a journey to develop May River Crossing in Bluffton, S.C. The 70,200-square-foot shopping center will be anchored by a Publix with a drive-thru pharmacy.

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Publix
5/20/2019

Irondequoit, N.Y., residents will soon vote on whether to approve funding for a 43,000-square-foot community center at the vacant Skyview on the Ridge mall. The mall's new owners are also pursuing other redevelopment plans while they await a decision on the community center.