Retail
Don’t Count the Regional Mall Out: Transwestern
A new report aims to debunk the supposed demise of the regional mall, and sheds light on strategies for both reinventing retail assets and boosting traditional brick-and-mortar.
Economy Watch: Retail Sales Dip in May
By Dees Stribling U.S. retail and food service sales dropped 0.3 percent in May compared with April, the Census Bureau reported on Wednesday. That’s the weakest monthly report for retail sales in more than a year and a half. Compared with the same month last year, however, retail sales were still up by 3.8 percent. As usual, some retail categories fared better than others. A handful of categories experienced month-over-month sales gains in May, such as furniture, up 0.4 percent, and apparel, up 0.3 percent. Grocery stores, as well as health and personal care stores, both eked out 0.1 percent…
Brookfield Acquires $440M Interest in Downtown LA Asset
The California Market Center is home to fashion industry showrooms, creative office spaces, event venues, fitness studios and beauty salons. the property was the first wholesale fashion showroom to open its doors on the West Coast.
Economy Watch: Closings Loom for Fashion Retailer
More than 250 stores will close by 2019 and another 400 closings could follow unless landlords grant rent relief, says the owner of such fashion brands as Ann Taylor, Dressbarn and Maurices.
SVN Mediates Sale of Chicago Retail Center
The 6,600-square-foot Northfield property was completed in 2015 and is fully leased to three tenants, one of them being Dunkin Donuts.
Quantum Capital Secures $50M Retail Refi
The loans will refinance a Walmart-anchored shopping center in Torrance, Calif. and four fully leased retail buildings in Beverly Hills, Calif.
HFF Secures $170M Refi for NoCal Retail Portfolio
The 33 triple-net-leased grocery retail assets in San Francisco Bay Area, Sacramento and the Central Valley are fully occupied under a master lease with The Save Mart Cos.
Westwood Sells Phoenix-Area Retail Center
Tatum Plaza, a retail center shadow-anchored by Fry’s Food & Drugs, traded for $9.5 million. Westwood acquired the property in 2014 and increased the asset’s net operating income by filling the center with high-profile tenants.
PAC Nabs GA Grocery-Anchored Shopping Center
The company’s wholly owned subsidiary, New Market Properties LLC, purchased Rockbridge Village, a roughly 102,432-square-foot retail center in Stone Mountain, Ga.
Faris Lee Arranges $13M LA-Area Starbucks, CVS Sale
The sale price represented a cap rate of around 4.7 percent, which is the lowest for two freestanding pads sold in Southern California in 2017.