Millennial-age renters are driving much of today’s demand for apartments, and millennials have made their preferences clear. They want to live in trendy neighborhoods close to where they work. They want the latest amenities, but their rents also need to be affordable.
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To date U.S. retailers have announced 7,426 store closures and 3,039 openings, compared to 5,864 closures and 3,258 openings last year.
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Restaurant traffic has been weak for three years, and we’ve analyzed plenty of reasons for that, including grocery prices, changing consumer habits, oversupply and even weak movie receipts. All of those reasons are valid, but none are as big a factor as the retail apocalypse.
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Bolstered by strong growth in its millennial population and high-paying jobs, Boston’s urban core continues to boast one of the lowest retail vacancy rates in the country.
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Parkview Financial announced today it has provided a $15.91 million construction loan to St Andrews Place, LLC, a Los Angeles-based private developer, for the development of a six-story, 65-unit apartment property in the Koreatown neighborhood of Los Angeles.
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The national retail vacancy rate fell 10 basis points to 10.1 percent in the second quarter, according to Moody’s Analytics REIS data.
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The Federal Reserve lowered interest rates by 25 basis points at its meeting today—bringing the target range to 2 to 2.25 percent. Find out what this means for commercial real estate investors.
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Malls are taking a hit with the loss of anchor department stores like Sears, J.C. Penney, Bon-Ton, Carson’s and Macy, not to mention in-line tenants.
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Is the recent surge in rental growth an indicator of tightening rental markets?
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The biggest mall owner in the country is anticipating the pace of retail store closures will slow after a nasty start to the year. But its CEO won’t make any promises.
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