Commercial Real Estate & Business News January 8, 2020

US Shopping Mall Vacancies Hit Two-decade High Vacancies in US shopping malls have hit the highest level in at least 20 years, a milestone that shows how landlords are struggling to come to terms with the age of Amazon. More shopping centre units lay empty across the country at the end of 2019 than any time during the past two recessions, according to figures published on…»
Maracay Pays $10.92M for 172 Lots in Mesa
Maracay, a wholly owned company of the TRI Pointe Group (NYSE: TPH), has closed on 127 homesites spread out among two parcels in the third and final residential phase of Cadence at Gateway, a vibrant master-planned community of 464 acres along the bustling Gateway corridor in Mesa. Maracay paid $10.92 million for the…»
Expect Yields on Multifamily Investments to Tighten Further
The combination of strong fundamentals, low interest rates and intense interest from investors should make for another white hot year for the multifamily sector. Although 2020 faces its fair share of uncertainty with worries of a potential recession, a volatile geopolitical picture and ongoing trade wars, investors looking for low-risk…»
Pier 1 to Shutter Nearly Half Its Stores
Pier 1 is reportedly preparing to file for bankruptcy and is planning to cut 40% of its staff, according to various news reports. The retailer has announced it will close up to 450 outlets, or nearly half of its stores, as well close certain distribution centers. It also warned about its ability to continue as a going concern. “Although decisions…»
Most U.S. Business Leaders Expect Continued Growth, Chase Survey Shows
Most small and midsize U.S. business leaders expect continued growth for their companies this year amid a less robust economic environment, according to the annual JPMorgan Chase Business Leaders Outlook survey released today. Three out of 4 businesses – 76% of midsize companies and 74% of small ones – are optimistic about…»