What’s selling motivation, you may be wondering. We’ve not experienced much since the middle of 2022 when the Federal Reserve mounted its stair climber and hiked interest rates several times over the next 18 months. Most of the selling motivation from the start of 2021 was fueled by crazy high prices investors were willing to … Read more
The return-to-office trend gained steam in December when average visitation rates at 350 Manhattan buildings rose to 67% of 2019 rates, according to the Real Estate Board of New York. That was up from the 65% recorded in November — and would have been 74% if the sleepy last week of December between Christmas and New … Read more
Over the past three years, we experienced changing markets. By that I mean the dynamic between buyers and sellers that sets the stage for negotiation and results in transactions. At the beginning of 2021, as we slowly awakened from the ether of pandemic lockdowns, two trends emerged: rampant online shopping and hybrid workforces. Both of … Read more
AUSTIN, Texas, Jan. 25, 2024 /PRNewswire/ — Summit Hotel Properties, Inc. (NYSE: INN) (the “Company”), announced today that its Board of Directors has authorized, and the Company has declared, a cash dividend for the fourth quarter ended December 31, 2023, of $0.06 per share of common stock of the Company and per common unit of … Read more
Macy’s has rejected a $5.8 billion offer to take the 165-year-old retailer private, announcing late Sunday that the “unsolicited proposal lacks compelling value.” Last month, Arkhouse Management, a real estate-focused investing firm, and Brigade Capital Management, a global asset manager, offered to buy the remaining Macy’s shares they don’t already own at a 32% premium. … Read more
One of my predictions headed into 2024 is that we’ll see an uptick of buying activity, especially from institutional purchasers. Why, you may be wondering? Here are my three reasons. Number one: Most industrial sites haven’t transacted since the middle of 2022 and must in order to balance allocations. Number two: We should get clarity … Read more
Denver city government took a big step Tuesday toward turning the former downtown headquarters of The Denver Post into a courthouse when the City Council approved an $88.5 million purchase agreement for the building at 101 W. Colfax Ave. A city master plan projects it will need an additional 280,000 square feet of space for … Read more
As I pen this, we begin the second week of 2024. National Football playoff matchups are set, the first professional golf event is in the books. Washington vs. Michigan takes center stage for the NCAA football championship. (Go, Huskies!). It feels like winter in Southern California as temps dip into the 30s at night. The … Read more
Happy new year! If you’re reading this, most likely you’ve already blown two or three resolutions. That’s OK. Just resolve to read this column each week and you’ll be fine. Well, at least you’ll be up-to-date on all things commercial real estate. Last week, I reviewed my prognostications from a year ago. I must admit, … Read more
Link to images here LAS VEGAS, Dec. 31, 2023 /PRNewswire/ — Peter Arnell, Brand Guru and Legendary Designer, known for transforming some of the world’s most prestigious brands, and who has created iconic brand marks for Pepsi, DKNY and others, played a pivotal role in redefining the brand identity of the Fontainebleau hotel on the eve … Read more
