Commercial Real Estate
Top stories summarized by our editors
5/21/2018

Sears and Kmart were behind in resources when Edward Lampert acquired and combined the retailers 13 years ago, and they've fallen further behind the competition under Lampert's cost-cutting strategy. Lampert, now CEO, has invested more than $1 billion into the company, and an offer by his hedge fund, ESL Investments, to buy the Kenmore brand and two other divisions leave many industry watchers wondering what would be left of the company.

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CNBC
5/21/2018

LaSalle Hotel Properties has agreed to be acquired by Blackstone Real Estate Partners VIII for $4.8 billion in cash, or $33.50 per share. This transaction, which is expected to close in the third quarter of 2018, follows multiple attempts by Pebblebrook Hotel Trust to acquire LaSalle, as well as Blackstone's exit from its stake in Hilton Worldwide Holdings last week.

5/21/2018

Funds from operations totaled $15.3 billion in the first quarter, a 6% increase over one year earlier, according to the Nareit T-Tracker®. Total dividends paid were $14.3 billion, a 7.4% gain over the first quarter of last year.

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Nareit
5/21/2018

Burland East, portfolio manager of the Altegris/AACA Opportunistic Real Estate Fund, likes the investment opportunities that data centers and wireless towers offer. In general, he is enthusiastic about commercial real estate, saying it "has offered fantastic returns across a variety of cycles, it's a reliable wealth generator."

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Burl East
5/21/2018

Office-sharing giant WeWork is getting more competition, as illustrated by Convene's new 93,000-square-foot lease in One Liberty Plaza in Lower Manhattan. According to Mary Ann Tighe of CBRE's New York tri-state region, New York has 65 different flexible-space providers.

5/21/2018

An analysis by Crunchbase News turned up a flurry of fundraising for shared and temporary housing startups over the past year or so. Most are in New York City and the San Francisco area, but they are also showing up places like Seattle, Pittsburgh and Los Angeles.

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TechCrunch
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Crunchbase News
5/21/2018

Customers want to be able to use physical stores along with mobile, voice and connected devices to make purchases, writes Jon Bird of VML. Retailers need to focus on convenience in their efforts, such as Walmart buying same-day delivery service Parcel and Target buying same-day delivery company Shipt.

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Forbes
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Jon Bird, Walmart, Shipt
5/21/2018

Las Vegas' retail market remains strong, with $10 billion in commercial real estate projects under construction. The area is on an upward trajectory due to the city's economics, work force and entertainment venues.

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CoStar Group
5/21/2018

Urban Edge Properties has sold the 47-acre, fully leased MacArthur Commons retail center in Whitehall, Pa., to an affiliate of Abrams Realty & Development. The grocery store-anchored property changed hands for $55.3 million.

5/18/2018

Walmart will launch its grocery delivery service across the Chicago market on Tuesday, charging $9.95 for same-day delivery. The addition of Chicago comes as the company strives to cover 40% of American households with grocery delivery services by year's end.

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Walmart, Chicago