Deutsche Bank’s Torsten Slok thinks this could be the best ever holiday season for retail sales. Sloks points to recent labor market data. Because hiring for the holiday season is generally done in October, it can be a good way to predict how retailers are feeling about sales for the final quarter of the year… Read more »
Canadian investment in U.S. commercial real estate is on track to hit record levels this year, once Canada’s second-largest pension fund closes a $2.25 billion deal to buy a landmark Manhattan property, according to data from property research firms. Canadian pension funds and developers have been raising their investment in foreign real estate this year, primarily in the United States, as they seek alternatives to a consolidated domestic market… Read more »
Builder confidence regained ground this month, increasing to the second-highest level of 2014, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index stood at 58 in November, up from 54 in October. The NAHB considers the index in positive territory at any reading above 50. The index rose over the summer, standing at 53 in July, 55 in August, and 59 in September, the highest point in 2014…Read more »
STORE Capital Corporation, an internally managed net-lease real estate investment trust (REIT) that invests in Single Tenant Operational Real Estate (STORE), announced Tuesday the pricing of its initial public offering of 27,500,000 shares of its common stock at a price to the public of $18.50 per share. The shares are expected to begin trading on the New York Stock Exchange today under the symbol “STOR.” The offering is expected to close on November 21, 2014, subject to customary closing conditions… Read more »
The Mesa Riverview area is getting a massive boost to its hospitality accommodations in the form of Starwood Hotels and Resorts’ Sheraton River View Hotel. The four-story, 160,000-plus-square-foot facility, directly adjacent to Cubs Park, will feature views of the park and easy access to games, allowing baseball fans to stay as close to the action as physically possible… Read more »