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Redeveloping assets: Arc Capital Partners co-founder Neville Rhone on the Jones Building office, retail and mixed-use project | Future of the Eastside of Los Angeles Oct. 31 |
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With Sears Corp. declaring bankruptcy Monday, Kimco Realty Corp. officials said hours later that they plan to recapture the Sears and Kmart store sites in the REIT's real estate portfolio and bring them back up to market rate. 
Sears Holdings, which operates the Sears and Kmart retail chains, currently has 14 lease agreements with Kimco for three Sears and 11 Kmarts nationwide, according to a Kimco news release. Sears Holdings only represents 1.9% of Kimco's total gross leasable area. “Today's announcement…
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Sears Files For Chapter 11 Bankruptcy: What You Need To KnowThe ongoing saga of the rise and fall of century-old department store chain Sears is nearing its end. The Hoffman Estates, Illinois-based retailer officially filed for bankruptcy Monday after years of financial struggles and a mountain of debt it has been unable to pay down, including a $134M debt repayment that was due by Monday. Sears online and in-store business will continue to operate as normal during bankruptcy proceedings. 
Here's what Bisnow knows about Sears bankruptcy proceedings so far: Mired In Debt News broke Friday that Sears was planning to file bankruptcy and close 142 underperforming stores in a big push to reorganize the company and pay off debt, Reuters…
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Online Retailers Will Move Much Further Into Brick-And-Mortar Over The Next 5 YearsThe movement of online retailers into physical spaces has a robust future, according to a new report by JLL. Over the next five years, about 850 stores with roots as digitally native brands will open brick-and-mortar shops nationwide. 
JLL examined the expansion plans of more than 100 digital retailers to come to that conclusion. The report further found that New York remains the top city for both pop-ups and first permanent locations for online retailers, but coastal markets…
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Report: Forget Pay Equity, Pay Parity Necessary To Close The Gender Gap In Commercial Real EstateMany companies believe that in order to close the gender gap one must achieve pay equity — which is when employees are compensated fairly and consistently across the board. But CREW's latest study, Achieving Pay Parity In Commercial Real Estate, suggests employers must take it a step further by pursuing pay parity, which is when a firm can prove there is no pay gap throughout its workforce, no matter employees' race, gender and age. “I think that most people hear pay equity and they think ‘equal pay.' But the end goal is parity,” CREW CEO Wendy Mann said. “It's not ‘I'm a woman and I'm doing this job so I get whatever he's making.' It takes into account other factors such as education, work experience and tenure … Pay equity is the means to achieve the goal of pay parity.” |
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A Downturn Is Coming, But Its Overall CRE Impact Is Anyone's GuessSpeculation about the next downturn in the U.S. economy has become the official sport of the commercial real estate community while markets continue to grow. Experts still say a correction is on the horizon, but opinions differ as to how much impact it will have. “It doesn't seem like there's something on the horizon to forecast a sharp downturn,” PricewaterhouseCoopers Director of Real Estate Research Andrew Warren said during a panel last week at the Urban Land Institute's Fall Meeting in Boston. “Nobody necessarily thinks we have to end the economic expansion.” |
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