Starbucks has invested $140 million in renewable energy over the past two years, including investments in eight Texas solar farms that are expected to save the chain $50 million in utility costs in the next decade, the company said. Two of the solar farms are already online, powering 360 of the chain's Texas stores.
The retail industry continues to struggle with store closings despite robust consumer spending and other positive signs, such as strong numbers last year from Macy's and Nordstrom. "I don't think malls are out of the woods yet," said Ana Lai, an analyst at S&P Global Ratings.
Board diversity measures are sensitive and should be best addressed by the CEO and chairman, with input from the general counsel, said Troy McHenry, executive vice president, general counsel and corporate secretary at HCP. McHenry noted HCP has found that "having an age or term-limit policy in place makes a difficult conversation a little less difficult," and he said HCP's new age limit policy will culminate in three female directors out of seven in 2019.
REITs posted some of the highest median employee compensation among financial, real estate and insurance companies last year, an analysis has found. With a median pay of $183,956, Host Hotels & Resorts was the highest of any company in these areas.
Columbia Property Trust has sold a 711,000-square-foot corporate campus in Atlanta to an affiliate of Starwood Capital Group for $227.5 million. The REIT is close to exiting the market with the sale of these fully leased buildings.
Retail is a highly varied sector, which is why it is important not to view it in a binary framework, says Joey Agree, CEO of Agree Realty. For instance, single-tenant net lease retail allows for safety and stability, he says.
So far in 2019, US retailers have closed 5,994 locations, which is more than all stores closed in 2018, and net store closings, which take into account openings, stands at 3,353, according to Coresight Research. Retail centers across the country are still likely to suffer with additional closures and slipping retail sales, one analyst notes.
Several commercial projects are planned or underway in Lakewood, N.J., including a 68,000-square-foot shopping center called The Avenue Shoppes. Another area project is a 17,836-square-foot, two-story building that will feature three retail shops on the ground floor with office space above.
For the fourth time, the Nebraska State Fire Marshal's Office has extended a repair deadline for Imperial Mall. The property must make repairs to ceiling tiles, emergency lighting and a sprinkler system to remain open.
Bed Bath & Beyond will close approximately 40 stores and open 15 new locations this year as it focuses on an experimental concept focused on categories including home decor, food and health and beauty, the retailer said. Some stores will close only if the retailer can't renegotiate their leases.