Target's efforts to lower prices, enhance grocery and e-commerce offerings, add more fashion-forward items and inspire quick fill-in trips paid off in higher second-quarter sales, the retailer reported Wednesday. Same-store sales rose 1.3% and online sales surged 32%.
REIT executive compensation increased by 5% in 2016, compared to 3% in 2015, according to FTI Consulting's 2017 REIT Executive Compensation Trends. It also reported that the trend of using performance-based shares as part of compensation has increased, with 84% of respondents reporting they now use performance-based equity, not including stock options, up from 82% in 2015.
Confidence in the senior-housing space is high, according to respondents to the fourth annual NREI/NIC Seniors Housing Market Study, who reported strengthening fundamentals, more access to capital and a growing pipeline. "As active as the market is with the product that we have today, we are looking at the tip of the iceberg in terms of boomers hitting retirement age," said Scott Stewart of Capitol Seniors Housing.
Washington Real Estate Investment Trust plans to add 401 units to an apartment complex in Arlington, Va., in its first ground-up development in a decade. The project, without the addition, is already Washington REIT's largest apartment complex, at 842,000 square feet.
Limited partnership Fontana Southridge Partners has purchased the 110,359-square-foot Southridge Plaza in Fontana, Calif., for $20.7 million. The property has a Rio Ranch Market anchor, as well as Rite Aid, McDonald's and AutoZone.
Indooroopilly Shopping Centre, a super regional shopping center in Brisbane, Queensland, Australia, is on the market and may pull in as much as $793 million. Potential investors include AMP Capital, QIC Global Real Estate and Scentre.
Amazon made $16 billion in bond sales Tuesday to shore up its planned acquisition of Whole Foods Market, sources said. The move marks the online retailer's fourth debt sale since 1998, and Moody's Investors Service upped the company's outlook to positive due to its pending Whole Foods purchase.
US housing starts fell 4.8% in July, a slump driven by groundbreakings for multifamily properties that dropped 17.1%; single-family house construction starts decreased 0.5%. Building permits dropped by 4.1%, to 1.22 million.