Centro Takes Another Hit
Aug 27, 2008
A month after selling a 5.1-million-square-foot chunk from its U.S. portfolio, Centro Properties Group reported that one of its domestic units, Centro NP, experienced a second quarter loss of almost $300 million, rekindling questions about its viability as a going concern. ...
Brokers Search the Depths
Aug 20, 2008
In the second quarter of 2008, significant retail sales transactions amounted to only $5 billion, according to New York City-based Real Capital Analytics. That represented a 63 percent drop from the second quarter of 2007....
Regional Mall REITs Hold Up Under Pressure
Aug 13, 2008
Regional mall REITs posted solid gains in net operating income (NOI) during the second quarter, buoyed by portfolios chock full of creditworthy national tenants....
Shopping Center REITs Show Weakness
Aug 6, 2008
The economic slowdown has begun to take its toll on shopping center REITs. Retailers are hurting as consumers cut back on spending. ...
Retail Construction Hits a Red Light
Jul 30, 2008
Consumers are checking discretionary spending and, seemingly everyday, new retailers come out with announcements that they are filing for bankruptcy, shuttering stores and constraining expansion plans. ...
Mall Owners Join Retailers to Drive Back-to-School Sales
Jul 23, 2008
As retailers shift into high gear for the all-important back-to-school shopping season, mall owners and operators looking to boost sales at their centers are riding shot-gun....
Centro Clears Minor Hurdle With First Asset Sale
Jul 16, 2008
As it continues to wrestle with a mountain of debt, Centro Properties Group, a poster-child of the credit crunch, on Tuesday announced the sale of the first piece of its 106.5-million-square-foot U.S. portfolio...
Starbucks Loses Ground on Real Estate Front
Jul 9, 2008
The announcement that coffee giant Starbucks plans to close 600 locations--500 more than its CEO Howard Schultz had talked about earlier this year--is unwelcome news for frappuccino lovers, but it’s likely to upset real estate owners and investors even more. ...
Six Months into 2008, the CMBS Market Has Failed to Recover
Jul 2, 2008
When the credit crunch first broke in earnest last fall and froze the U.S. commercial mortgage-backed securities (CMBS) market in its tracks, the most bullish prognosticators predicted a mere blip. ...
U.S. Retail Store Closures Flirting with Six-Year High
Jun 25, 2008
Bankrupt home furnishing retailer Linens 'n Things' disclosure this week that it plans to dispose of 120 locations is the latest burst in the retail sector's growing flood of store closings this year that has industry's real estate disposition firms scrambling. ...
Retail Not Part of Jones Lang LaSalle/Staubach Deal
Jun 18, 2008
Jones Lang LaSalle Inc.'s proposed $613 million acquisition of Addison, Texas-based real estate advisory firm the Staubach Co., which would create the second largest commercial real estate brokerage firm in the world, won't boost the Chicago-based global real estate giant's retail division....
REIT Week Attendees Expect Tough Times Ahead
Jun 11, 2008
The U.S. commercial property market will avoid the massive troubles crippling the single-family housing sector but will face hard times in the coming year, according to presenters at NAREIT’s annual REIT Week conference that took place in New York City from June 4 to June 6....
Centro is Thrown a Lifeline
Jun 4, 2008
Struggling shopping center operator Centro Properties Group, one of the most high-profile victims of the credit crunch, remains afloat as its creditors this week extended the Melbourne-based listed property trust a lifeline by giving the firm a six-month extension to pay down $2.5 billion in debt. It now has until December 15 to come up with the funds. ...
Commercial Property Markets Remain in a Lull
May 28, 2008
As the industry makes its way through the second quarter of 2008, the outlook for the U.S. retail property market remains muddled, according to the first quarter report from Reis, Inc., a New York City-based provider of commercial real estate information. ...
Strong Grocery, Drugstore Sales Buoy Shopping Center REITs
May 15, 2008
Consumers spending on staples and necessities buoyed shopping center REITs during the first quarter. ...
