- Inflation Pinches Restaurants, But Customers Seem Willing to Split the Check “Inflation is making casual-dining shareholders sick to their stomachs. Relief is likely on the way. Brinker International, owner of Chili’s, said last Tuesday that it earned 34 cents a share on an adjusted basis in its fiscal first quarter, which ended in September—far below Wall Street analysts’ estimate of 68 cents a share. Eateries need to mind their pennies even when customers are flocking to restaurants because small changes in costs can take a big bite out of profits. For Brinker, labor expense as a share of total revenue was up 1.5 percentage points from a year earlier while the share of food costs rose 0.6 percentage point.” (The Wall Street Journal)
- Landlords Beware: Office Tenants Are Procrastinating on Hybrid Planning “Hybrid work models are widespread, but Ernst & Young survey shows majority of businesses have yet to finalize future work arrangements.” (The Real Deal)
- Investors Size Up Senior Housing’s Impending Bull Run “Large investors are making a macro call that time is right to enter the seniors market after being on the sidelines even before the pandemic, according to Ted Flagg, Senior Managing Director for JLL Capital Markets, speaking to GlobeSt. ‘Finite life investment vehicles that put planned sales on hold with the pandemic are now testing the market with marketing processes,’ Flagg said. ‘There is a widely held view that we are in early days of a bull run in seniors housing.’” (GlobeSt.com)
- More Than 60% of Executives Worry That Supply Chain Issues Will Prevent Holiday Orders from Arriving on Time “The majority of retail executives worry that supply-chain issues will prevent holiday orders from arriving on time as demand for holiday shopping soars this year, according to a report from Deloitte. Supply-chain issues caused by skyrocketing online orders, crisis levels of traffic jams of cargo ships at ports, and labor shortages in the transportation and trucking industry are hamstringing retailers from stocking up on inventory ahead of the holiday shopping season.” (Insider)
- Supply Chain Crisis Poses a New Threat to the Future of Office Real Estate “Investors know offices need to be overhauled. But the cost of doing that is rising.” (Bisnow)
- New York’s Real Estate Market: A Q&A with Kristin Jordan. “New York’s Cannabis Control Board will award a limited number of licenses for the state’s adult-use marijuana market, and for those vying to be among the first picked, where and how they choose to build their business will play a key role in the board’s decision. But regulations aren’t yet published, so it’s unknown exactly how location and real estate will be evaluated in a successful application.” (Syracuse.com)
- Automation and Logistics: Real Estate Considerations “Events such as the COVID-19 pandemic, extreme weather events, and labor shortages have created significant supply chain challenges for retailers. In addition, the demand for more productive internet sales fulfillment centers has dramatically increased and will continue to increase for the foreseeable future. Many retailers were already in the process of converting to automation systems for supply chain facilities and internet fulfillment centers as a means to increase efficiency, productivity, and revenue on a per square foot basis of logistics space, and the recent supply chain challenges have accelerated that process for many retailers.” (The National Law Review)
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