Nike is taking a tech-driven approach as it focuses on growing direct retail sales and lessening its dependence on other retailers. The newest Nike stores integrate consumer facing apps that also inform management's efforts to stock shelves with in-demand items.
Flagship Healthcare Trust has a portfolio of more than 45 health care properties in the Southeast and Mid-Atlantic regions worth more than $350 million. In this interview, Flagship's Gerald Quattlebaum discusses the REIT's investors, the UPREIT structure and the advantages of being an owner and operator.
FFO of all US equity REITs totaled $15.8 billion in Q3, according to the Nareit T-Tracker®. Most property sectors posted rising earnings and occupancy rates remained near record highs, according to economist Calvin Schnure. Net acquisitions were $4.9 billion, and purchases year-to-date are the strongest since 2015, as the rise in REIT share prices has improved REITs' cost of capital.
Forever 21 recently secured rent cuts from some of its largest landlords, allowing it to keep 60 stores open that were originally slated to be closed. Reducing rents or offering concessions can allow mall owners to avoid vacancies at a time when retailers are adjusting to new economic realities.
A growing number of restaurant brands are rethinking their layouts to cater to app-based orders and are opening delivery-only locations.
Michigan's Mall at Partridge Creek has announced four new tenants as it prepares for the holiday shopping season. The additions include American Eagle/Aerie, Burger Fin, Detroit Axe and Lululemon.
Pacific Castle Management has sold a shopping center called Strawberry Creek in California for $20.9 million. The property boasts four buildings and 57,373 square feet of retail space.
Atlanta-area malls are looking toward revitalization as traditional retail models cause others to fold. Northlake Mall has signed a tenant deal with Emory Healthcare, while Phipps Plaza has traded in a former Belk store for a Nobu hotel and restaurant, Life Time fitness facility and 13-story office building.
Kroger is investing in state-of-the-art automated grocery fulfillment centers with help from Ocado, though the grocer doesn't expect to see changes until the first one comes online sometime in 2021. "With shopper receptiveness to digital innovation limited mainly by retailers' imagination, Kroger's new facilities will be coming online about the time that expectations for speed, accuracy, assortment and freshness are hitting new highs," Mike Troy writes.
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