Commercial Real Estate
Top stories summarized by our editors
7/16/2018

Retail sales were up 0.5% in June from the month prior, with May's numbers revised upward to a 1.3% gain, the Commerce Department reported Monday. June sales were up 6.6% year over year, with increases reported for e-commerce, furniture sellers and restaurants and decreases at clothing, supermarket, electronics and appliance retailers.

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Commerce Department
7/16/2018

The REIT market has been in turnaround mode since February, when stock market returns began to improve after a year and a half of underperformance, according to Brad Case, Nareit senior vice president for research and industry information. "This has been a broad-based REIT recovery," he said, pointing to health care REIT and self-storage returns that both gained more than 20%, hotel REIT returns up almost 21% and retail REIT returns increasing by more than 13%.

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Nareit
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Hotel REIT, Brad Case, NAREIT
7/16/2018

Certain REIT subsectors are outperforming the real estate sector as a whole and are expected to continue delivering strong returns. These sectors include manufactured homes and self-storage, as well as hotels, although some investors are becoming cautious about this latter asset.

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Reuters
7/16/2018

New quarterly earnings reports for US banks show that many are becoming concerned about overheating real estate markets and are scaling back lending as a result.

7/16/2018

Inflation is a growing concern, especially after the Bureau of Labor Statistics reported that it ran at a 4.5% annualized rate during the first six months of 2018. Nareit's Brad Case reviews the empirical evidence establishing that REITs have been among the most dependable inflation-protecting assets since the high-inflation days of the 1970s.

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Nareit
7/16/2018

New investors in the student housing space are entering the market because it is a defensive play, while old hands with this asset class expect to see many of these entrants fail -- allowing them to pick up assets at a good value. "Opportunities will emerge as a result of those that are taking excess risk as a result of inexperience," says Christopher Merrill, co-founder and CEO of Harrison Street Real Estate Capital.

7/16/2018

A second data center is slated for Iron Mountain's Phoenix campus in which the REIT expects to invest $430 million over the next five years. The building, which will deliver in two phases, will total 550,000 square feet.

7/16/2018

Alexandria Real Estate Equities has acquired a 10-story property with 350,000 rentable square feet in Manhattan's East Side medical corridor from Pfizer for $203 million. As part of the transaction, Pfizer is leasing back some of the space for at least five years.

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GlobeSt
7/16/2018

AvalonBay Communities reportedly has a buyer for a 382-unit apartment high-rise in Arlington, Va. Swedish investor Akelius Residential is buying the property for $170 million, or $445,026 per unit, according to a source.

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GlobeSt
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AvalonBay
7/16/2018

The 358,615-square-foot Streets of Brentwood retail center in California has been sold to Fairborne Properties. The property features a theater anchor, along with DSW, ULTA and a Sprouts Farmers Market.

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Sprouts Farmers Market, DSW, Ulta