At the halfway point of the year, sellers and buyers are starting to accept that higher interest rates are here to stay, with at least one more rise indicated by the Fed. Some sellers who made moves early are reaping the rewards, while some who have waited are looking at increasing competition. However, that doesn’t mean that waiting was necessarily
Navigating Commercial Building Foreclosure: Strategies for Chicago Area Commercial Tenants
As a commercial tenant in the dynamic and ever-evolving Chicago area, it’s essential to stay ahead of the game and be prepared for potential challenges that may arise when a commercial building goes into foreclosure or becomes a target for conversion to residential use. In this blog post, we will explore effective strategies that commercial tenants can employ to protect
“Covid was the greatest stress-test ever for retail,”
“Covid was the greatest stress-test ever for retail,” is what the CEO of a national shopping center ownership group told me earlier this month. That CEO, like nearly everyone else I speak to, is bullish on retail. He recently convinced his board of directors to increase the company’s spending budget for the remainder of the year from $1B to $1.2B.
FOMAM: Fear Of Making A Mistake
Two weeks ago, I had a conversation with an investor who owns and operates over two hundred shopping centers in twenty-five states from Florida to Alaska, and who is looking to place a pretty hefty investment into New York City Retail. He shared a sentiment that I’ve been hearing a lot lately, which is that the biggest obstacle in today’s
Chairman Powell + Kith
In early March, I sat down with a landlord in a diner in Borough Park, Brooklyn to discuss options for his retail buildings in the area. As we drilled down on the possibilities, he paused and said to me, “Trever, there is a saying in Yiddish which goes, ‘When the Ashkenazi sell, they regret it. And when the Persians buy,
How to Invest in NYC Foot Traffic
Early this month, an 87-year-old New York City retail landlord told me that,“Buying into the Dollar is just investing into a belief system.” Making the case for why he’s still buying retail properties, he added, “With retail, I am buying into New York’s population, compounded by appreciation.” Contrary to ageist stereotypes, he is well versed in Omni-Channel retailing, and keenly
2022 Fourth Quarter Market Report
Commercial sales are exceeding expectations.
“To place this era of unprecedented sales in historical context, the graph…shows South Coast sales volume has followed a stair-stepping growth pattern with three distinct phases, starting with the “great recession” 15 years ago. The recessionary phase lasted through 2011and was followed by a seven-year stretch averaging $315 million of non-hotel volume. 2022 was the
Cap Rates vs. PSF: Measuring Value
Early in this New Year, a retail landlord who owns over 200 buildings remarked to me: “Cash is king, always is. That’s why I don’t have any mortgages on any of my buildings.” Of course, not all buyers are in a position to follow his model. Very few retail buildings transferred in the last quarter of 2022, and it’s my
Retail is alive and thriving
It is early January, and I am preparing for the new year ahead. I was cleaning out some old emails and files and found the article linked below from Chain Store Age (a key retail trade magazine). The story is about Ace Hardware, and their opening of 170 stores in 2022. The article also mentions that they operate over 5,600
Bricks and Mortar Is Alive
Wow!! Check out the article below. Amazon has announced their first cinema ! The dominant leader in on-line experience(retail, streaming etc) is now moving more into “bricks and mortar”. With Amazon’s investment in content production it makes sense. Combined with Amazon’s growing investment in grocery and other retail concepts there is a clear message that bricks and mortar retail and