Commercial Real Estate
Top stories summarized by our editors
12/11/2017

The dramatic acceleration in the growth of online shopping is having an effect on New Jersey's traditional brick-and-mortar commercial real estate market. Driven by soaring demand, last year warehouse rents outstripped the previous high, set in 2004, of $6.23 a square foot and hit $6.64 in this year's third quarter.

12/11/2017

GGP has reportedly declined a $14.8 billion buyout from its largest shareholder, Brookfield Property Partners, a deal that would have created one of the largest publicly traded property companies in the world. Brookfield is said to be considering a new offer after GGP's board of directors found the initial offer inadequate.

12/11/2017

Pebblebrook Hotel Trust is planning to sell some of its 28 full-service hotels next year to take advantage of strong private-market demand for assets, says CEO Jon Bortz. The REIT may also buy back stock if that use of capital offers a favorable discount.

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Nareit
12/11/2017

The CMBS market is in the second-longest period of falling delinquencies in more than eight years, with November marking the fifth consecutive month of decline, according to Trepp and Fitch Ratings. The delinquency level has been receding since June "as bubble-year loans have passed their maturity date and been resolved," says Trepp's Manus Clancy.

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GlobeSt
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Fitch Ratings, Manus Clancy, Trepp
12/11/2017

A Washington court has ruled against Whole Foods' decision to close one of its locations in a Bellevue shopping center without giving the landlord and other tenants much notice. This ruling followed a favorable decision for Simon Property Group after Starbucks decided it would close 77 Teavana stores in Simon-owned malls.

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CNBC
12/11/2017

Gladstone Commercial Corp. has acquired two office buildings for $37.6 million. The Salt Lake City and Columbus, Ohio, properties were sold by Morgan Stanley.

12/11/2017

Retailers such as Amazon, Target and Walmart are pushing private-label clothing as consumers become less loyal to specific brands such as Nike and Gap. Activewear, a growing sector, now sees private-label products accounting for 20% of the market, NPD reports.

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NPD, Walmart, Amazon
12/11/2017

Becker Properties has acquired Riverdale Shopping Center, a 66,416-square-foot retail center in San Diego, for $10.1 million. The property features a CVS anchor.

12/11/2017

The Park Terrace Stadium movie theater, which opened in 1964, will close its doors at the Park Road Shopping Center in Charlotte, N.C. It's unclear what will happen to the 21,000-square-foot space after the theater closes Sunday.

12/11/2017

Rosewell Wieuca Shopping Center in Atlanta has been sold in an all-cash deal to a Preferred Apartment Communities subsidiary. The 74,370-square-foot retail center is fully leased and features an ACE Hardware and a Fresh Market.