NEWS

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Palomar Press Briefing | March 2, 2022



 INDUSTRY NEWS

March 2, 2022

 

OFFICE PROPERTIES AREN’T JOINING COMMERCIAL REAL ESTATE’S VALUATION BONANZA

With most of the commercial real estate market on a historically hot streak, the traditional darling of the industry is getting left behind. Multifamily properties rose an average of 22.5% year-over-year in January, their ninth straight month of double-digit annual growth.

FOOT TRAFFIC STATISTICS SUGGEST MALLS ARE STABILIZING

Though 2021 will hardly be remembered as a banner year for American malls, data on foot traffic suggests consumer shopping habits may be returning to pre-pandemic norms. Lockdowns and quarantining during 2020 largely limited consumer spending to grocery stores, pharmacies, and online retailers.

TARGET TO OPEN 30 STORES, EXECUTE 200 FULL STORE REMODELS IN 2022

Target Corp. will invest up to $5 billion to continue scaling this physical, digital, fulfillment, and supply chain operations in 2022. The discounter plans to open approximately 30 stores, ranging from mid-size locations in dense suburban areas to small-format stores in city centers such as Charleston, S.C., and New York City’s Times Square.

INFLATION IS BIGGEST RISK TO ECONOMIC RECOVERY THIS YEAR, ECONOMISTS SAY

Nearly two-thirds of panelists surveyed by the National Association for Business Economics predict a downside risk to US economic growth in 2022, according to the organization’s most recent survey. Results from the NABE Outlook Survey show that experts overwhelmingly view inflation as a key role in risk to the economic outlook.

‘COVID HAS WIPED OUT MEDIOCRITY.’ ORANGE COUNTY INVESTORS RETHINK POST-PANDEMIC PORTFOLIOS

Of the four main commercial real estate food groups – industrial, multifamily, office and retail – the pandemic drew a line between the winners and losers. Those in industrial and multifamily will continue their winning streak this year with double-digit rent increases in Orange County.

BERKSHIRE’S PERFORMANCE VS THE S&P 500

Surprise, surprise. Here are a few items about your company that often surprise even seasoned investors: Many people perceive Berkshire as a large and somewhat strange collection of financial assets. In truth, Berkshire owns and operates more U.S.-based “infrastructure” assets.

 

 

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