- Top-Tier Malls Are Latest Victim of Retail Headwinds “But the recent bankruptcies of big-name retailers are beginning to fan further across the mall spectrum. Moreover, signs are growing that even when malls appear full, revenue growth is slowing because landlords have to cut rents to keep them there.” (WSJ.com)
- Delivery dilemma: Americans are ordering more, but the U.S. can only handle so much “Warehouse space is nearly full, with vacancy near an all-time low. Streets are crammed with delivery vans blocking traffic. City curbs are increasingly a turf war between delivery drivers and everyone else. Even grocery store aisles can feel crowded — at least, when staff for delivery services are scouring the shelves.” (NBC News)
- KKR Gets Busy in Seattle Real Estate “The firm is entering the Seattle property market with the two deals, which are being funded from its balance sheet and accounts co-advised by KKR.” Institutional Investor
- Dubai sets new 12-month record for volume of real estate transactions “Dubai registered a total of 44,590 overall real estate transactions from November 2018 until November 2019. This is the highest transactional volume for any 12-month period in the history of Dubai real estate since sales transaction data was made publicly available.” (Construction Business News)
- Kennedy Wilson Raises $775M for Value-Add Fund “Kennedy Wilson Real Estate Fund VI will focus on value-add real estate investments across the Western US, with a focus on underperforming real estate that should benefit from a significant repositioning or renovation.” (GlobeSt.com)
Five Must Reads for the CRE Industry Today (December 24, 2019)
Despite appearances that they might be hanging in, high-end malls are feeling some of the effects of the retail shakeout, according to the Wall Street Journal. The rise in delivery services is pushing U.S. infrastructure to the limits, reports NBC News. These are among today’s must reads from around the commercial real estate industry.