NEWS

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Palomar Press Briefing | April 27, 2022



 INDUSTRY NEWS

April 27, 2022

 

HOW BRICKS MIGHT SAVE CLICKS

Online furniture seller Wayfair, which saw a decline in active customers last year, is placing new hopes in that physical world: It plans to open three bricks-and-mortar stores in Massachusetts this year. In an earnings call on Feb. 24, Wayfair Chief Executive Niraj Shah said the stores will be “valuable avenues for discovery, visualization and marketing.”

RECORD HIGH HOUSE PRICES WEIGH ON U.S. HOME S

U.S. home sales dropped to the lowest level in nearly two years in March as house prices raced to a record high, and could decline further with the fixed 30-year mortgage rate hitting 5%. Even with home sales falling back to their pre-pandemic level, the housing market remains hot.

HOW PERSISTENT WILL INFLATION BE?

The consumer price index for March 2022 rose 8.5 percent from the prior year, the highest annual reading for inflation since 1981. It also marks one year since the CPI began measuring above 2 percent annually—the Federal Reserve’s long-held ideal rate. Over the past year, inflation has supplanted every other risk as the primary concern facing investors, according to a quarterly survey conducted by SitusAMC Insights.

FIRST NATIONAL REALTY ACQUIRES 170,000-SQUARE-FOOT GROCERY-ANCHORED SHOPPING CENTER IN SAVANNAH

First National Realty Partners LLC has acquired McAlpin Square, a 170,000-square-foot shopping center in Savannah. David Rivers of Palomar Group represented the undisclosed seller in the transaction.

ASKING PRICES ROSE IN MARCH ACROSS CRE SECTORS

Asking prices across CRE sectors ticked up in March for those properties listed on Crexi’s database, with the average asking price per square foot rising 2.72% month-over-month. Cap rates compressed by 0.14% over the same period across asset classes, while occupancy rates picked up a 1% gain.

DRIVING FOOT TRAFFIC WITH DIGITAL ENGAGEMENT & DATA

From smartphones and apps to voice-enabled devices, social media and online shopping, people live digitally in today’s world. This has changed the way retailers interact with and meet the needs of their customers. “Digital engagement is more important now than ever because that is the way people live.”

 

 

 

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