(Bloomberg)—Gap Inc., the apparel retailer that’s searching for a new chief executive officer, said it will no longer seek to establish Old Navy as a standalone company. The shares rose in pre-market trading on Friday. The plan, announced under previous CEO Art Peck, was to spin off Old Navy on the premise that its fast […]
Who will elect to buy the controversial Trump International Hotel in Washington, D.C. and how much money will the luxury property command? Those questions underpin one of today’s most high-profile guessing games in the hotel sector. Commercial real estate services company JLL, which is marketing the property on behalf of the Trump Organization, has set […]
Over the next decade, research shows further growth in aggregate enrollment in higher education in the U.S. and continued growth in first generation college students. But what do the statistics mean for student housing developers and their strategies going forward? In the following video, Fred Pierce, president and CEO of Pierce Education Properties, talks about […]
Hudson Yards developer was considering a wall, but later backtracked those plans, reports The New York Times. Harrah’s Reno Hotel and Casino sale shows growing challenges for traditional gambling operators, according to the Wall Street Journal. These are today’s must reads from around the commercial real estate industry. NREI Staff | Jan 16, 2020
(Bloomberg)—Abercrombie & Fitch Co. says it isn’t afraid to leave even the best shopping centers behind as it shrinks its footprint. “We’re willing to walk away from any mall at this point,” Abercrombie Chief Financial Officer Scott Lipesky said Monday at the ICR Conference in Orlando. “For us, it’s about getting the right store in […]
(Bloomberg)—New York City is reaping the benefits of a construction boom. The city set a value of $1.38 trillion for its more than one million properties for the fiscal year beginning in July, a $62 billion increase from the prior period, as the value of new construction reached the highest level in the last 10 […]
MSCI, an American finance company, released its 2020 Emerging Real Estate Trends report today. The main themes of the report revolve around the improvement of data in the real estate investment space, and how this is playing a more vital role in investment decision-making. NREI asked Will Robson, executive director and global head of real […]
This year will see the delivery of more new apartment units than any year since the 1980s, according to the Wall Street Journal. Coney Island shop owners are looking at rent increases of up to 400 percent, reports The New York Times. These are among today’s must reads from around the commercial real estate industry. […]
U.S. store closures in 2019 set an all-time record with roughly 9,300 closings, reported global marketing research firm Coresight Group. That shattered the previous record of approximately 8,100 stores in 2017. Closings last year outpaced store openings more than two to one, Coresight found, with 4,454 new stores in 2019, compared to 4,311 in 2018. […]
With online retail sales rising by 10 percent annually, the volume of returns is also growing. According to research from market data firm Statista, returns for online sales tend to be two to three times more frequent than returns for in-store sales, with 15 to 30 percent of online purchases returned, compared to 8 to […]