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Commercial Real Estate & Business News August 23, 2018

Riding a wave of record in-store customer traffic and impressive digital growth, Target’s second-quarter results announced today marked the retailer’s strongest quarter in more than a decade. The company reported that sales at stores open for at least a year increased 6.5%, the most in 13 years. Target also said its customer traffic to stores, which increased by 6.4%, was the strongest since it began reporting…»
ATLANTA – Multifamily investors are anticipating another solid year for U.S. apartment sales. Annual transaction volume is robust, price per unit is increasing and fundamentals like rent growth and occupancy are strong, leaving buyers confident that apartment properties remain a safe investment. “Investors are so sophisticated now, and they have the option of going into whatever sector…»
Multifamily investors are still able to get low interest rates on permanent loans as different lender groups continue to compete for market share. “The competition between the agencies and life companies is creating bidding wars on the debt side, with increased interest-only and decreased spreads a requisite to win deals,” says Brandon Harrington, managing director with JLL Capital Markets…»
CCIM Institute Chief Economist K.C. Conway, in partnership with the Alabama Center for Real Estate, released a special report entitled “Adaptive Reuse: Turning Blight into Bright,” which represents the first step to redefine and quantify the adaptation of obsolete commercial properties for new uses as an institutional-grade product category. The report examines the new era of adaptive reuse…»
CHICAGO-Another renovated suburban office complex has changed hands, one of several to do so recently as properties that once struggled now fill up with tenants and attract investor interest. CT Acquisitions, LLC, a partnership between Philadelphia-based Rubenstein Partners and Chicago-based GlenStar, has acquired Continental Towers, a 911,341-square-foot campus…»