PALOMAR GROUP ARRANGES $2.9M SALE OF RETAIL STRIP CENTER IN MACON, GEORGIA
The Palomar Group has arranged the $2.9 million sale of a 32,676-square-foot retail strip center located at 888 Pierce Ave. in Macon. The fully leased property includes tenants Dollar General, Buddy’s Furniture and Mattress Barn. Robbie Romeiser of Spencer/Hines Properties represented the buyer.
MASTERCARD: APRIL SALES REMAIN STEADY AMID STRONG BRICK-AND-MORTAR GROWTH
In-store sales continued their rebound in April even as consumers purchased less online. Total retail sales (excluding auto) in April rose 7.2% year-over-year and 15.3% compared to pre-pandemic spending (2019), not adjusted for inflation, according to Mastercard SpendingPulse.
COMMERCIAL PROPERTY PRICING HELD STEADY IN APRIL
The Green Street Commercial Property Price Index held steady across all asset types in April. The firm’s all-property index is up just 0.2% this year, in stark juxtaposition to last year’s 24% increase. “Commercial property prices are not going up anymore, but for the most part, they’re not going down either,” said Peter Rothemund, Co-Head of Strategic Research at Green Street
GLOBAL REAL ESTATE OUTPERFORMS BROADER MARKET DURING A TURBULENT MONTH
The FTSE EPRA/Nareit Global Real Estate Index Series outperformed broader markets in April as geopolitical and macroeconomic headwinds weighed on financial markets. The FTSE EPRA/Nareit Developed index posted a total return of -5.4% for the month and -9.0% year-to-date.
APRIL HOUSING DATA SHOWS PROMISE FOR WEARY BUYERS
The US housing supply appears ready to rebound, according to new data released this week by Realtor.com, though some suggest it’ll take a slow while. An increase in the number of mid-sized homes, according to the report, could mean more listings are available for families wanting to upgrade from their starter homes.