Expanded frozen food offerings and the addition of fresh produce to some stores helped Dollar General boost sales in the most recent quarter, the retailer said. The company aims to open 900 new stores in 2018, focusing both on rural areas and cities, where the retailer aims to attract more affluent shoppers.
Following a drop this year in public non-listed REIT fundraising, Robert A. Stanger & Co. and others expect to see improvement in 2018 boosted by a growing investor appetite for yield as well as the arrival of such companies as Blackstone and Starwood Capital Group. Stanger projects at least a 33% increase in fundraising in 2018, reaching $5.6 billion.
Investment firm Memento SA has recommended that Sears go private to prevent short selling, which the firm believes is excessive. It appears that suggestion helped to drive a small upswing for the retailer's stock, which rose by up to 5.1% on Thursday.
Cap rates declined in October to the lowest level since at least 2001 for apartment, office and industrial properties, even as interest rates rose. Nareit economist Calvin Schnure discusses the fundamentals supporting pricing in real estate markets, including low vacancy rates and rising NOI. An important feature of current markets is that spreads between cap rates and yields on Treasury securities are wide, which may provide a buffer for property valuations even if interest rates move higher.
Advances in technology have been boosting Digital Realty Trust's business and should continue to do so, says CEO William Stein. The internet of things, autonomous driving, artificial intelligence and virtual reality will propel the REIT forward, he says.
Development has the highest priority on American Campus Communities' capital allocation chart, according to CEO Bill Bayless. The REIT's $2 billion development pipeline will see it through 2019.
Griffin Capital Essential Asset REIT has acquired a corporate campus in Fort Mill, S.C., for $130 million. The two-building campus is 100% leased to LPL Holdings.
Echo Polska Properties has invested $818 million in the M1 Polish shopping center portfolio, acquiring 12 retail centers in Poland. The investment consists of 4.8 million square feet of single-level properties that are 100% leased and grocery-anchored.
Country Fair Mall in Woodland, Calif., is only 30% leased, and J.C. Penney and Walmart are the main draws for customers. The city proposes demolishing much of the enclosed structure to make room for housing, retail and outdoor space, while owner Frank Zeng hopes to see it transformed to provide inexpensive space to small, local startups.
Laguna Village Investors has purchased Laguna Village, a 120,893-square-foot retail center near Sacramento, Calif., for $32.5 million. The 98%-leased property features a Regal Cinemas movie theater, a fitness center and retailers.