Commercial Real Estate & Business News – July 10, 2020

Costco Sees Stronger Sales Growth in June
Net and comparable sales growth topped 11% at Costco Wholesale in June, fueled in part by the ongoing coronavirus crisis. For the five weeks ended July 5, net sales came in at $16.18 billion, up 11.1% from $14.57 billion a year earlier, Costco reported after the market…»
U.S. May Need Another 1 Billion Square Feet of Warehouse Space by 2025 as E-commerce Booms
With online sales proliferating during the coronavirus pandemic, the U.S. is going to need more warehouses to store hoards of boxes and handle those orders. These stocks could soar during the recovery, Bank of America saysHoled up at home, and with many bricks-and-mortar…»
Money Pours In as Investors Search for Property Bargains
Money being accumulated for distressed property purchases led real estate fundraising in the first half of the year as investors looked to take advantage of falling property values due to the impact of the coronavirus and efforts to contain its spread. Investors are moving up the risk…»
As US Rent Collections Soften, Concerns Grow for Apartment Owners
Apartment landlords, as well as their tenants, are now feeling the heat as the coronavirus pandemic drags on. Industry executives say worries for landlords are mounting. Demand for higher-end rentals is falling with a half-million new units set to hit the market. And rent collection…»
Forbearance Rate Declines After June’s Economic Improvements, but Will it Hold?
The U.S. mortgage forbearance rate fell to 8.39% in the last week of June, down from 8.47% a week earlier, as businesses reopened and the jobs market improved, according to a report on Tuesday from the Mortgage Bankers Association. But will it hold? The drop in forbearances…»