Commercial Real Estate
Top stories summarized by our editors
12/14/2017

India's The Chatterjee Group is said to be discussing buying out the local operations of partner Vornado Realty Trust. The company teamed up with Vornado on an offshore investment platform called the India Property Fund, as well as investments in other properties.

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LiveMint (India)
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Vornado, Vornado Realty Trust
12/14/2017

The Walt Disney Co. has secured a deal worth $52.4 billion with 21st Century Fox to acquire many of its assets. Sources say the deal calls for 21st Century Fox keeping its real estate portfolio, which would allow it to rent space in Los Angeles to Disney.

12/14/2017

To accommodate increases in delivery demand, UPS and FedEx are encouraging pick-up and drop-off neighborhood centers that could alleviate some demand on porch drop-offs. Supermarket and drugstore locations can help fill consumer demand for alternative options for home delivery.

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FedEx
12/14/2017

For the week ending Dec. 9, initial jobless claims dropped by 11,000 to a seasonally adjusted 225,000, according to the Labor Department. That was lower than the 235,000 in claims expected by economists.

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Labor Department
12/14/2017

Goldman Sachs says it is more optimistic about near-term investments for the fourth quarter of 2017 and first quarter of 2018 due to encouraging early signs from the holiday season. It remains pessimistic in the long term due to "declining store traffic and apparel deflation."

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Fox Business
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Goldman Sachs
12/14/2017

Consumers who use the Mall of America's mobile app, website or Facebook page -- or Amazon Alexa's skills -- will be able to interact with the retail center's chatbot. Developed by Satisfi Labs, the location-based chatbot will answer questions and provide information in real time.

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Mall of America, Facebook, real time
12/14/2017

Powder Springs, Ga., officials held an open house Monday to showcase new designs for the city's proposed town center property and let residents voice opinions on the options. Though no formal presentation occurred, residents were able to vote on amenities they would like, such as water features, fireplace art sculpture and a multiuse lawn.

12/13/2017

Sears paid down $325 million on an existing loan in the fourth quarter and won an extension on the maturity date for the remaining $400 million until January 2019, the retailer said in regulatory filings. The company has also secured a $607 million credit facility which is secured by 138 properties that Sears will eventually sell to repay the loan.

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Sears
12/13/2017

Inditex, the parent of fashion retailer Zara, aims to find a buyer for 14 of its stores in Spain and two in Portugal, the company confirmed. The retailer is seeking to raise $472 million from the sale of the stores, which it would then lease back with an option to vacate after five years, a source said.

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Zara, Zara, Inditex
12/13/2017

The annual increase in the Labor Department's core Consumer Price Index fell to 1.7% in November from 1.8% the previous month. Federal Reserve officials, some of whom are already concerned about weak inflation, are expected to factor the report into their policymaking.

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Reuters