{"id":1004087894,"date":"2013-12-04T10:53:28","date_gmt":"2013-12-04T18:53:28","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004087894"},"modified":"2022-12-09T01:30:37","modified_gmt":"2022-12-09T09:30:37","slug":"holiday-season-effects-on-capital-markets","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/holiday-season-effects-on-capital-markets\/","title":{"rendered":"Holiday Season\u2019s Effects on Capital Markets"},"content":{"rendered":"<p><i>By Keith Loria, Contributing Editor<\/i><\/p>\n<div id=\"attachment_100408\" style=\"width: 160px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/12\/MASON.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-100408\" data-attachment-id=\"1004087895\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/holiday-season-effects-on-capital-markets\/mason-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/12\/MASON.jpg\" data-orig-size=\"448,187\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"MASON\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/12\/MASON.jpg?w=448\" class=\"size-thumbnail wp-image-1004087895\" alt=\"MASON\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/12\/MASON.jpg\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-100408\" class=\"wp-caption-text\">Gerry Mason, of Savills<\/p><\/div>\n<p>The holiday season is always an interesting time for institutional investors in retail, and after a year that\u2019s started to see a slight increase in the market from a capital markets perspective, the most common theme appears to be, \u201cInvest in the top 20 markets in the country to limit downside and to provide an exit strategy.\u201d<\/p>\n<p>According to Gerry Mason, executive managing director of Savills, who advises institutional investors on REITs, pension funds and investment firms have closed more than $12 billion in real estate transactions.<\/p>\n<p>\u201cInvestors are looking for income growth in the \u2018core\u2019 sector\u2014at least two percent per year to justify the high prices in the market,\u201d Mason told <i>Commercial Property Executive<\/i>. \u201cMy advice is to buy higher quality secure yield properties and do not overleverage.\u00a0There is sure to be a market disruption during your holding period.\u201d<\/p>\n<p>Over Thanksgiving weekend, online sales were reportedly up 20 percent year to year, but since approximately 98 percent of all brick and mortar merchants now sell online, stores are realizing they don\u2019t need to have the same space they once did, and are transitioning to smaller and smaller physical locations.<\/p>\n<p>\u201cThis accounts for more efficiency with higher sales volume in less physical space,\u201d Mason added. \u201cThis trend will continue. Our retail markets in the U.S. are approximately 20 percent overbuilt.\u201d<\/p>\n<p>Even with the hefty increase retailers saw last weekend, projections are that because of Thanksgiving being so late in the month this year, overall sales will probably be flat to slightly down once the final numbers of December arrive.<\/p>\n<p>Looking ahead to 2014, Mason warns that investors should be cautious.<\/p>\n<p>\u201cThe Federal government will curtail quantitative easing and long-term interest rates will rise\u2014how far and how fast are the questions,\u201d he cncluded. \u201cPrices for retail investments should decrease as interest rates go up. We are currently in a pricing bubble for core properties at 4 percent and 5 percent cap rates.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The holiday season is always an interesting time for institutional investors in retail, and after a year that\u2019s started to see a slight increase in the market from a capital markets perspective, the most common theme appears to be, &#8220;Invest in the top 20 markets in the country to limit downside and to provide an exit strategy.&#8221;<\/p>\n","protected":false},"author":451,"featured_media":1004087895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37301],"tags":[],"class_list":["post-1004087894","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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