Sales of grocery-anchored shopping centers dropped by 30% in the first 10 months of 2018, according to Real Capital Analytics. A slowdown in new construction and a scarcity of prime centers on the market were among the reasons for the slowdown, which has not significantly affected pricing.
Manhattan's median rental price dropped 1.3% to $3,318 in November, compared with the same period a year ago, according to brokerage Douglas Elliman. Concessions in the Manhattan market reached 42.2% for the month, compared with 29.6% a year earlier.
Apple Hospitality REIT has recently extended its portfolio to include the Hyatt brand, which Krissy Gathright, executive vice president and chief operating officer of the REIT, said will offer additional investment opportunities. "We feel there's an opportunity to benefit from margin expansion as the World of Hyatt loyalty program continues to grow in value and result in additional direct bookings and lower distribution costs," she said.
New York is one of the best cities in which to be an investor in real estate, said David Bistricer, founder, co-chairman and CEO of Clipper Realty. The company, which recently secured financings on two New York properties, hopes to expand there further, he added.
Construction on a new retail center in Roseville, Calif., is to begin this spring. The Campus Oaks Town Center will include a 24 Hour Fitness, an AT&T location and an Ace Hardware.
Sephora has focused many of its efforts on creating a true omnichannel shopping experience this year, led by Mary Beth Laughton, executive vice president of US omnichannel retail. Typical Sephora shoppers start their research online or on mobile and make their first purchases in stores, after which some stick with brick-and-mortar shopping and others opt to buy online only, Laughton said.
More consumers are using click-and-collect options to complete their shopping trips, and retailers are getting better at helping them do so, Lauren Thomas writes. Retailers such as Target and Home Depot have excelled at embracing the option as a bulwark against online-only merchants, Thomas writes.
REITs could be good investments for 2019, with a favorable outlook for the sector based on expected growth and views that interest-rate increases may be more moderate than expected, writes Beth Mattson-Teig. Haendel St. Juste, senior REIT analyst and a managing director at Mizuho Securities, said that "in the near term, we don't think REITs are a bad place to hide."
Luxury care communities are a rapidly growing segment in the senior housing market, with roughly 15 million people estimated to have enough money to afford private continuing care. One example of developers responding to this trend is the recent partnership between Related Cos. and Atria Senior Living to create $3 billion worth of upscale housing for seniors.