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Retail Property News

Courtesy of Morris Appraisal Inc. and Commercial Property News

$135M Financing Secured for 1MSF Yonkers Shopping Center

10/28/2009 8:05 AM

It's almost like the good old days of 2007 when loans over $100 million for commercial real estate practically rained from the sky. Undeniably, those times have not returned, but news that Brooks Shopping Center L.L.C., owner of the 1 million square-foot Cross County Shopping Center in Yonkers, N.Y., has gotten its hands on a $135 million first...Read More

Economy Watch: No Rush to Build More Houses

10/28/2009 8:05 AM

U.S. housing starts posted a gain in September, but only a modest one,pointing to a still-modest rate of recovery for the overall economy.According to the U.S. Department of Commerce, the rate of new homestarted inched upward by 0.5 percent during the month to a seasonally adjustedrate of about 590,000 units. Ever-optimistic economists, it seems, w...Read More

Manhattan Retail Hit Hard in '09, But Turnaround on Tap

10/28/2009 8:05 AM

It's been a rough year for retail, even in tony Manhattan. The crumbling of Wall Street in the fourth-quarter of 2008 spurred the downward spiral of the market and the recession just added salt to the wound, according to a third quarter report by Marcus & Millichap Real Estate Investment Services.

Retail Vacancies Hit New Highs

10/28/2009 8:05 AM

Even as the economy shows signs of having turned a corner, serious hurdles remain for the retail sector. And the latest figures from the third quarter reveal that vacancy rates at U.S. malls and shopping centers have risen to multi-year highs.

Chain Stores See Rare Uptick

10/28/2009 8:05 AM

U.S. chain store sales in September increased 0.1 percent on a same-store basis compared with the same period last year, representing the strongest reading since July 2008, when sales increased 3.3 percent, according to the International Council of Shopping Centers.

Economy Watch: Blackstone Takes Amusement Parks

10/28/2009 8:05 AM

It seemed like an announcement from the good old days (2006, say): Blackstone Group L.P. is buying a sizable chunk of real estate. But it was in fact on Wednesday when the buyout giant told the world that it was going to spent some $2.7 billion to buy Anheuser-Busch InBev NVs amusement parks.

Economy Watch: Retail Group Sees Less Holiday Spending

10/28/2009 8:05 AM

In contrast to the mildly positive forecast by the International Council of Shopping Centers about the upcoming retail holiday sales season (1 percent growth), as covered recently by CPE,, the National Retail Federation is predicting a mildly negative holiday sales season for the nations put-upon retailersnamely, a 1 percent decline during Nov...Read More

$49M Exxon Deal a Rarity in Quiet Seal-Leaseback Market

10/28/2009 8:05 AM

A convenient method for property owners to secure a quick cash infusion, sale-leaseback transactions were plentiful just a couple of years ago, but now it is usually only the more financially burdened of sellers that resort to accepting lowball sale-leaseback offers. Whether White Oak Petroleum L.L.C. falls into the aforementioned category is ...Read More

Economy Watch - ICSC Predicts Slightly Improved Holiday Season for Retailers

10/28/2009 8:05 AM

The International Council of Shopping Centers expects holiday sales among U.S. retailers to rise 1 percent this year compared with last year, when retail sales fell off a cliff (down 5.8 percent compared with the pre-recession holiday season of 2007). It's a slightly more optimistic forecast than some other organizations that track retail acti...Read More

Report: Rents on Half the World's Preeminent Shopping Streets Plummet to 24-Year Low

10/28/2009 8:05 AM

Fifth Avenue. Rodeo Drive. Avenue des Champs-Élysées. Event the most acclaimed retail strolls in the world have not escaped the ravages of the global economic crisis, according to Cushman & Wakefield's annual Main Streets Across the World report. Surveying 274 leading shopping streets in 60 countries, the real estate services ...Read More

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