National
Economy Watch: U.S. Population Still Graying
The median age of the U.S. population rose from 35.3 years in April 2000 to 37.9 years in July 2016, according to new Census Bureau population estimates. A shift that will affect demand for retail and residential real estate.
Square Mile Capital Makes Executive Changes
Craig Solomon, who co-founded the company back in 2006, will be responsible for managing all aspects of the firm’s business and investment activities.
Breathing New Life into Old Buildings
Many shopping centers are being renovated into new spaces with new uses as a result of changing retail trends and the growth of online shopping. A creative vision and unique zoning approach are needed to be successful, notes Withey Morris PLC Owner Adam Baugh.
Economy Watch: E-Commerce Sales Impacting Certain Retail Sectors
While internet sales have been steadily increasing each year and each month, they are only generating significant volume in sectors like apparel and electronics, according to a new CBRE report. E-commerce has yet to gain as much traction in other retail areas.
IHG to Launch New Midscale Brand
The hospitality chain aims to address an underserved group of 14 million potential guests who are hungry for a high-quality yet competitively priced experience. Development costs are estimated at $85 to $90 per key.
Summit Closes $163M Portfolio Deal
Acquired from Xenia Hotels, the five properties include four adaptive-reuse buildings. The assets are located in Fort Worth, Kansas City, Mo., Pittsburgh and Baltimore.
Economy Watch: Architects Report a Good Month in May
The American Institute of Architects’ Architecture Billings Index posted its fourth consecutive month of growth, suggesting that both the architecture and construction sectors will remain healthy for the foreseeable future.
HTI to Buy Sibling’s Portfolio for $120M
Following the transaction’s closing, American Realty Capital Healthcare Trust III expects to liquidate and dissolve. The sale comprises 19 properties totaling approximately 468,000 square feet.
What’s Next for Emerging Tech Hubs?
Tech companies seeking new office locations should look for “hidden gems”—markets of opportunity with lower costs and a large talent pool, according to JLL’s latest report.
Non-Traded REITs: Go Mainstream or Die
Fundraising for the sector fell in 2016 due to the combination of impending regulatory changes and lackluster performance, notes Yardi Matrix Associate Director of Research Paul Fiorilla. The sector must continue to lower fees and improve liquidity to attract new investors.