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October 20, 2022

The 'Catch-22' That's Keeping Aging Malls Stuck In Limbo

Fresh Slate: Hear About Deals Penciling, Financing, Materials & More At Chicago State Of The Market Nov. 16

Hundreds of shopping malls across the country require substantial investment to stay alive in today’s market, but disagreements over how much the properties are worth — even among professional appraisers — have left many of them sitting stagnant.

The 'Catch-22' That's Keeping Aging Malls Stuck In Limbo

Redevelopments around the country have shown that dead malls can be revived by adding a mix of uses like multifamily and hotels, but those projects have only been undertaken at a small minority of U.S. malls. Developers who want to pursue more of these projects say the appraisal process…

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Recently Public Real Estate Startups Have Lost 85% Of Their Opening Value

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You'd be hard-pressed to find a more efficient way of losing money over the last two years than investing in real estate startups when they went public.Venture-backed real estate companies that went public in the last two years have lost an average of 85% of their debut value, according to an analysis…

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Prologis Pivoting Away From Spec, Ramping Down Dispositions As Market Softens

Prologis Pivoting Away From Spec, Ramping Down Dispositions As Market Softens  

Industrial giant Prologis plans to scale back spec development and instead focus on custom builds as volatility in the economy threatens to dampen demand.

Thus far, economic headwinds have done little to curtail torrid leasing activity and unprecedented occupancy levels at Prologis properties, but that could change as the year comes to a close, company executives said during a quarterly earnings call Wednesday. 

The company said it will be cautious heading into the rest of the year, including being more selective about new projects, and those that do break ground in the fourth quarter will be mostly build-to-suit.

“We are carefully managing the business and approaching our markets with a sense of caution, much as we did at the onset of the pandemic,” Chief Financial Officer Tim Arndt said on the third-quarter earnings call. “In leasing, despite a very strong spot environment, we are carefully watching for softening…

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