Commercial Real Estate
Top stories summarized by our editors
1/22/2018

Amazon is opening its first Amazon Go store, in downtown Seattle, to the public today. Customers avoid a checkout line by using an app to enter, shop and pay at the 1,800-square-foot store, which sells typical convenience store fare and high-end fresh foods.

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Amazon
1/22/2018

Macy's is positioned to grow again after closing underperforming stores, speeding up integration of in-store and digital sales and other moves, said outgoing Executive Chairman Terry Lundgren. "Macy's will be around for a long, long time because we've been financially strong and responsible for many years," he said.

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Fortune
1/22/2018

Singapore Exchange, a favored listing destination for global REITs, will permit companies to list with dual-class shares. The new share structure, which Singapore Exchange has been considering for a year, should attract more tech startups, including online retailers.

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Reuters
1/22/2018

Industrial, data center and infrastructure REITs that were publicly traded outperformed the market in 2017, and they are well-positioned to post strong growth in 2018, albeit perhaps not at the same level as last year, says Nareit's Brad Case. He also expects other REIT sectors to "gain ground" this year, such as retail.

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Brad Case, data center, NAREIT
1/22/2018

Twenty metro areas around the world account for 59% of data center revenues, with nine of those areas in the US and 10 in North America, according to Synergy Research Group. Equinix led the market in third-quarter revenue in eight of the top 20 metros.

1/22/2018

Host Hotels & Resorts' Jim Risoleo just finished his first year as CEO at the REIT. He notes that he is cautious right now "because we are in the eighth year of growth in our industry, and RevPAR (revenue per available room) has been decelerating in the last couple years, combined with supply which is coming online at the long-term historical average."

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REIT magazine
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Jim Risoleo, Host Hotels
1/22/2018

Dave Bragg, managing director and research analyst at Green Street Advisors, warns that investors in such secondary cities as Nashville, Tenn., and Austin, Texas, may not get the returns they are expecting, which are based on these cities' favorable demographics. "Demographics do not guarantee outperformance," he says.

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REIT magazine
1/22/2018

The Senate today approved a procedural measure that paves the way for the government to reopen after a three-day shutdown. Senate leaders reached a bipartisan deal for a short-term spending bill that would fund the federal government through Feb. 8, giving them more time to come to an agreement on immigration.

1/22/2018

The tax bill signed into law last month by President Trump, the Tax Cuts and Jobs Act (TCJA), includes a number of provisions related to REIT and real estate investment. Cathy Barré, Nareit's senior vice president for policy and politics, appeared on Nareit's REIT Report Podcast to offer her insights on the bill's effect on REITs. Listen to the podcast.

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Nareit
1/22/2018

Steve Radom, developer of a new shopping center in Houston called Heights Mercantile, said he didn't go after the easy deals but rather spent time developing the concept for the new development. The property, which spans six buildings, offers cultural and local offerings, along with Lululemon and a gallery space with rotating work from the Museum of Fine Arts, Houston.

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Lululemon, Museum of Fine Arts