Commercial Real Estate
Top stories summarized by our editors
9/18/2019

US manufacturing production increased 0.5% in August, reversing a 0.4% decline in July, according to the Federal Reserve. Economists say it is too soon to conclude a trade-driven slowdown has ended.

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Reuters
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Federal Reserve
9/18/2019

Fashion retailer Forever 21 is in talks with landlords Simon Property Group and Brookfield Property Partners to potentially give them equity stakes in the company as part of a bankruptcy filing, sources said. A bankruptcy filing could come as soon as this month, the sources said.

9/18/2019

MGM Resorts International and Blackstone Group are reportedly discussing potential sale-leaseback transactions for the Bellagio and MGM Grand properties on the Las Vegas Strip. Some analysts say the properties could be worth between $6 billion and $7 billion.

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GamingToday
9/18/2019

The crown of the One Vanderbilt skyscraper in Manhattan has topped out. The 1.6-million-square-foot building is expected to be completed next year.

9/18/2019

The e-commerce boom has fueled the market for industrial space, but now trade uncertainty and a slowing economy could weigh on the sector. However, demand remains high for last-mile facilities in urban areas, and a Real Capital Analytics report found that the dollar volume of industrial properties sold in the US is on pace to top its record tally from 2017.

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Real Capital Analytics
9/18/2019

Colony Capital is planning to sell off most of its $20 billion worth of warehouses, hotels and other commercial real estate assets in order to invest in data centers, fiber and mobile phone towers. "We want to be mostly all things digital," said Colony founder and CEO Thomas Barrack Jr.

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Colony Capital, Colony
9/18/2019

Cap rates are rising for apartments located in markets that have some form of rent control in place, according to Real Capital Analytics. Investors are reacting to the possibility that these jurisdictions will strengthen their rent regulations, says Jim Costello, senior vice president for Real Capital Analytics.

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Jim Costello
9/18/2019

Sears is leaving Florida's Oviedo and Lake Square malls in the coming months, but the properties have been thriving thanks to nontraditional tenants moving in. The former boasts an entertainment center called District Eat and Play, while Lake Square Mall has introduced an ice skating rink, bowling alley, go-kart track and arcade to its lineup.

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Sears
9/18/2019

Ross Park Mall in Pittsburgh has been welcoming independent and locally owned businesses like Rosie's Workshop, which sells lamps made with repurposed pieces. The property is also transforming an empty, two-story Sears space into a multi-use complex with dining, entertainment and retail options.

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Ross Park Mall
9/18/2019

New York's Staten Island Mall is yet another mall saying goodbye to its Sears store as the retailer shutters locations across the nation. To adapt to changing times, the mall signed on several new stores and restaurants as part of a 242,000-square-foot renovation and has built a centrally located exterior plaza for seasonal events and community gatherings.

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Staten Island Mall, Sears