Five proposals have been submitted by the December 20 deadline for the first-phase development of Richmond’s City Center Innovation District Project (“City Center”), according to Virginia Business. The project’s aims include, among others, the demolition of the Richmond Coliseum, the … Continue reading →
The average amount of inventory held by the 20 biggest U.S. public apparel companies was up by 26 percent compared with the 2019 (pre-pandemic) level, according to Insider Intelligence (citing analysis from AlixPartners). On Black Friday, indoor mall foot traffic … Continue reading →
In a recent decision, the Supreme Court of Virginia held that “personnel information” for purposes of Va. Code § 2.2-3705.1(1) (a section of the Virginia Freedom of Information Act (“VFOIA”)) means “data, facts, or statements within a public record relating … Continue reading →
JLL reports additional office occupancy losses in Q3-2022 with 11.4 million square feet of negative net absorption, bringing the year-to-date occupancy loss to 24.7 million square feet. According to the report, a vast majority of downsizing companies are relocating into … Continue reading →
Italian marketplace/food hall chain Eataly has leased 18,353sf of retail space at 200 Lafayette for its third Manhattan location, according to the New York Post. The asking rent for the space, which was previously occupied by luxury appliance showroom Pirch, … Continue reading →
Home prices in the U.S. fell by 1.1 percent between July and August, according to Full Stack Economics (citing data from the Case-Shiller index). However, significant variations exist at the metropolitan area level. For example, in metropolitan Austin, home prices … Continue reading →
According to the National Association of Real Estate Investment Trusts (Nareit), REITs of all types collectively own more than $4.5 trillion in gross assets across the U.S. and U.S.-listed REITs have an equity market capitalization (stock market value) of more … Continue reading →
In the industrial sector, REITs and institutional investors are replacing smaller, private owners. According to Business Insider (citing data from CBRE), over each of the past 12 years, institutional investors have purchased more warehouse space than they’ve sold, while private … Continue reading →
The average asking rent in Manhattan’s retail corridors was $607/sf in Q3-2022—a 2.2 percent increase from the prior quarter and the first increase since Q4-2016, according to CBRE. The rolling four-quarter aggregate leasing velocity—a measure of total leasing (renewals and … Continue reading →
Volkswagen Group of America, Inc., the North American subsidiary of German automaker Volkswagen, has signed a 20-year lease agreement for a new logistics facility at Port Freeport, Texas. The new hub will enable Volkswagen to import approximately 140,000 vehicles per … Continue reading →