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Palomar Press Briefing | March 10, 2021

 

 



 INDUSTRY NEWS

March 10, 2021

 

FOR THE THIRD YEAR IN A ROW COSTAR NAMES PALOMAR GROUP TOP SALES FIRM IN AUGUSTA/RICHMOND COUNTY


The commercial real estate firms and brokers in Augusta/Richmond County who completed the most commercial property sales and leases in 2020 were recognized as CoStar Power Broker Award winners this week.

 


Dollar Tree reported Q4 sales that missed Street estimates and said it is ramping up its store growth and remodeling, with a push for a new format that combines both its banners. 

 

WALMART MAKES MAJOR COMMITMENT TO U.S. MANUFACTURING


Walmart will spend $350 billion in the next 10 years on items made, grown or assembled in the U.S. The discount giant which launched its first commitment to purchase more U.S.-made products in 1985 and committed to spending $250 billion on domestic merchandise in 2013, is continuing this effort with its latest pledge. 

 

‘HOLY LEISURE AND HOSPITALITY BATMAN!’ ECONOMISTS REACT TO FEB JOB REPORTS ON TWITTER


Total nonfarm payroll employment grew by 379,000 jobs in February, the U.S. Bureau of Labor Statistics reported Friday. The unemployment rate fell slightly to 6.2%. Most of February’s job gains came from the leisure and hospitality sector, which added 355,000 jobs.

 

TREPP CMBS DELINQUENCY RATE PLUNGES IN FEBRUARY FOR EIGHTH MONTHLY DECLINE


The Trepp CMBS Delinquency Rate in February was 6.8 percent, a decline of 78 basis points from the January number, which is the biggest drop over the last eight months. The percentage of loans in the 30 days delinquent bucket is 0.58 percent, which is down 16 points for the month.

 

‘ADDING FUEL TO THE LOGS’: CONSTRUCTION MATERIALS PRICES CONTINUE TO SOAR


Beyond the complications of workers falling ill and job sites shuttered last year due to shelter-in-place orders, high prices and slow delivery schedules for construction materials such as lumber and steel have maintained a stubborn strain on the industry.

 

BURLINGTON STORES TO OPEN 100 STORES IN 2021; CITES ‘SIGNIFICANT MARKET SHARE OPPORTUNITY’


Burlington Stores Inc. reported fourth-quarter sales and profit that beat Street estimates and said ti was doubling its store count potential. The off-pricer, which ended the year with 761 stores nationwide, expanded its long-term store count potential to 2,000 stores.

 

WHAT IT TAKES TO ADD DRIVE-THRUS: PHILLIPS EDISON & CO.’S METHODICAL PROCESS


Last year, Phillips Edison & Co. reviewed its portfolio, but it wasn’t the standard search for properties to sell or redevelop. “We focused on our entire portfolio, going property by property, to look at each space and ask, ‘Is there a way to get a drive-thru here?'” said Jeff Edison.

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