US housing starts dropped a monthly 4% in July to a seasonally adjusted annual rate of 1.191 million. This is the third straight month this measure has fallen, reflecting the rising cost of labor and materials.
Investors must not lower their standards when analysing environmental, social and corporate governance data, a new report by two data governance professionals warns. "The importance of good data governance does not end when it comes to ESG data," says the study's co-author Tarne Bevan.
PREIT views retail closures as an opportunity to backfill the vacant space with higher-performing tenants, according to CEO Joe Coradino, who notes that the REIT actively seeks out entertainment, fitness and restaurant concepts and other experiential retail to fill space. The REIT has also sold off over 40% of its portfolio between 2012 and 2018, giving it a much higher-quality portfolio, he says.
Trade tensions have not necessarily influenced Rayonier's export market outlook, says David Nunes, president and CEO of Rayonier. He notes that China still has a large need to import wood and that New Zealand, where the REIT has an exclusive presence, has benefited from some of the trade issues.
Skyview on the Ridge retail center in Irondequoit, N.Y., will soon be home to a $43 million senior apartment development from Pathstone Corporation with 157 units and an adult day care center from St. Ann's Community. The two companies are the first confirmed tenants for the property's redevelopment and will be joined by a community center.
Cape Cod Mall is welcoming a 46,000-square-foot Dick's Sporting Goods to Hyannis, Mass.,next summer. In addition, Target will take over a vacant Sears space in October to open a small-format store.
In order to avoid a tax foreclosure, the owner of ShoppingTown Mall in DeWitt, N.Y., has announced intentions to file for reorganization under Chapter 11. Onondaga County is currently trying to take over the mall because of $9.7 million in unpaid property taxes.
Amazon will open its newest brick-and-mortar 4-star store on the ground floor of the e-commerce giant's new Seattle office tower Thursday. The store will stock about 2,000 products that are new, trending or whose Amazon reviews average at least four stars.
UK-based shoe brand Dr. Martens is seeing a resurgence in popularity as '90s nostalgia sweeps the fashion world, but the brand is betting on temporary trends for future growth, CEO Kenny Wilson said. The company has focused on product innovation and direct-to-consumer sales with the opening of 20 new stores in the US, Europe and Asia in the most recent fiscal year.
Target's growing group of small-format stores around the US feature murals and other pieces by local artists as part of an effort to foster a sense of community. The effort to find the right artist for each store starts early in the development process, with a deep dive into the history and culture of each neighborhood.
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