SHOPPING CENTER NEAR STONECREST MALL SOLD FOR NEARLY $17M
A shopping center in the heart of Stonecrest sold for nearly the same price as the entire Gallery at South DeKalb Mall. Turner Hill Marketplace, a strip mall with more than 124,000 square feet of retail space, was recently acquired by two Miami-based real estate firms for $16.8 million.
REITS HIT RECORD $126B IN CAPITAL RAISED
U.S. REITs raised more than $126B from equity and debt offerings, plus initial public offerings, during the first three quarters of 2021, more than any other full year, according to a new Nareit report. The final tally for 2021, once fourth-quarter figures are added, will be even higher, the organization says.
GLOBAL REAL ESTATE POSTS STRONG RETURNS IN 2021
The FTSE EPRA/Nareit Global Real Estate Index Series performed strongly in 2021, with the Developed index posting a total return of 27.2%, while the Global index, which includes both Developed and Emerging Markets, returned 23.0%. The total return for the Emerging Markets index was -13.4%.
EMPTY SHELVES SAPPED RETAILERS OF $82B IN CPG SALES LAST YEAR
The cost to retailers caused by the difficulty they have been facing keeping items in stock was magnified by an overall increase in CPG sales in 2021, according to NeilsenIQ’s newly launched “on-shelf availability barometer.”
RETAIL SALES, ESPECIALLY E-COMMERCE, SURGED IN JANUARY
Despite the impact of the coronavirus’ omicron variant and an elevated inflation rate, consumers are out spending. Overall retail sales were up 7.2% in January compared with the same month last year, according to the latest Mastercard SpendingPulse report.
BLACKSTONE REIT TO BUY PREFERRED APARTMENT COMMUNITIES IN $5.8 BILLION DEAL
Blackstone Real Estate Income Trust has agreed to acquire publicly traded real estate investment trust Preferred Apartment Communities in an all-cash transaction valued at $5.8 billion as it focuses more on multifamily properties.
RETAIL SALES SURGE 3.8% IN JANUARY, MUCH MORE THAN EXPECTED AMID INFLATION RISE
Consumer spending bounced back sharply in January as rising inflation and a post-holiday surge kept cash registers ringing, the Commerce Department reported Wednesday. Retail sales for the month rose 3.8%, much better than the 2.1% Dow Jones estimate.