Commercial Real Estate
Top stories summarized by our editors
2/20/2018

Galesburg, Ill., City Council has approved a plan to divide Sandburg Mall into separate lots. The move gives the retail center's owners flexibility in how they can sell or redevelop the property.

2/20/2018

Circle Centre Partnership will upgrade Circle Centre, a downtown Indianapolis retail center. The renovations will take up to two years and include new bathrooms, lighting, elevators, lounge areas and community tables.

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Circle Centre
2/20/2018

Plans are still being worked out for Butler Square on Shorter Avenue, a retail development from Butler Properties in Georgia. The project will no longer include a Lidl grocery store but will still include seven retail spaces.

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Lidl
2/19/2018

Many US consumers will see their pay rise starting this month under the new tax law, which could boost sales at retailers including Walmart, Costco Wholesale and Amazon. Taxes will decline about $2,119 this year for a family making $75,000, according to the Tax Policy Center.

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Tax Policy Center, Walmart, Costco, Amazon
2/19/2018

Tops Friendly Market and Winn-Dixie parent Bi-Lo are both preparing for possible bankruptcy filings in the coming weeks, sources said. Both chains are carrying heavy debt loads and facing growing competition.

2/19/2018

Restaurateurs who once struggled to find the space they needed to launch new eateries are now being courted as anchor tenants by retail property owners, said David Chang, who owns 23 eateries around the world. Restaurants and food sellers fill 20% to 40% of space at most shopping centers, up from 10% to 15% in 2008, according to commercial real estate firm CBRE Group.

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CNBC
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David Chang, CBRE Group
2/19/2018

Goldman Sachs analysts expect the cost of servicing US debt will surge due to climbing bond yields and the expansion in borrowing amid a growing economy. "In the past, as the economy strengthens and the debt burden increases, Congress has responded by raising taxes and cutting spending," the analysts wrote, noting the opposite is now true.

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Goldman, Congress
2/19/2018

Cedar Realty Trust has arrived at an agreement to resolve a shareholder activist campaign by Snow Park Capital Partners. Cedar Realty will add one new independent board director under the agreement.

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Reuters
2/19/2018

REITs are becoming more attractive to investors as they appear poised for a rebound after lagging the Standard & Poor's 500 in the past year. REITs are undervalued compared with stocks and bonds, says Mike Kirby, chairman of Green Street Advisors.

2/19/2018

WeWork, founded eight years ago and now valued at $20 billion, is looking to expand its shared-working-space model to living space and amenities, as illustrated by projects such as its Dock 72 project at Brooklyn Navy Yard. CEO and co-founder Adam Neumann describes WeWork not as a real estate company but as one that connects entrepreneurs through the work environment and beyond.