Orlando, Fla.'s Sand Lake Corners North shopping center, a Class A community center, is on the market. The 151,487-square-foot shopping center is shadow-anchored by Wal-Mart and is 92% occupied.
Altamonte Mall in Orlando, Fla., is pulling in retailers from the shuttered, for-sale Artegon mall. One new addition is the Marketplace at Altamonte, an open retail space for five artisans.
US retailers including Payless ShoeSource, RadioShack and Hhgregg have announced plans to shutter 2,880 stores thus far this year, per Credit Suisse. Companies are on pace to close more than 8,600 stores in 2017 as retailers continue to rightsize amid shifting shopping habits.
At an industry event, Treasury Secretary Steven Mnuchin said the Trump administration will release its plan for a comprehensive tax overhaul "very soon." He also said the plan would be a simultaneous reform of both corporate and individual taxes, instead of a more modest approach as some have speculated.
Non-Generally Accepted Accounting Principles financial information also provide important insights to investors, says Catherine Ide, senior director of professional practice at the Center for Audit Quality, noting that CAQ has called for a conversation about the use of these measures. "We believe the auditing profession is uniquely positioned to foster this dialog because we have a lens into many facets of those stakeholders in this process," she says.
All of the 45 industrial markets tracked by Reis are experiencing positive growth. The top five markets for warehouse/distribution construction activity this year are Dallas; Chicago; San Bernardino/Riverside, Calif.; Kansas City, Kan.; and Central New Jersey.
Sentiment in the multifamily community remains below the break-even level of 50 for the third consecutive quarter in all four indices published by the National Multifamily Housing Council, which cover market tightness, debt and equity financing and sales volume. "After years of lagging behind the increase in apartment demand, new supply is finally coming on line in sufficient quantity to alter [the previous] supply-demand imbalance," says chief economist Mark Obrinsky.
Private real estate market values are probably going to be flat for the next six to 12 months, says Cedrik Lachance, director of US REIT research at Green Street Advisors. In the REIT market, manufactured homes, storage, apartments and malls are attractively priced, he says, adding that the "mall business clearly is in a period where it has to reinvent itself."
Many of the roughly 200 outlet malls in the US, with $50 billion in assets, have high occupancy rates and a constant flow of bargain-shopping consumers. The industry, once considered a no-frills way of shopping, has seen a significant change as retailers begin to tailor certain items for outlets.
A 270,000-square-foot shopping center in Vernon Hills, Ill., about 30 miles from Chicago, is the newest project for Regency Centers Corp. The project, called Mellody Farm, will be part of a $200 million mixed-use development and will feature a grocery store anchor.