Phillips Edison & Compnay, Inc. (“PECO”), one of the nation’s largest owners and operators of omnichannel grocery-anchored neighborhood shopping centers, announced today that it has completed its underwritten initial public offering of 17,000,000 shares of common stock at a price to the public of $28.00 per share.
U.S. retail sales unexpectedly increased in June as demand for goods remained strong even as spending is shifting back to services, supporting expectations that economic growth accelerated in the second quarter.
As multifamily investment coaches and mentors, we are often quick to cite the tax advantages of an investment in a multifamily asset, and there are many. But, a slate of proposed tax changes under the new presidential administration could reduce or eliminate some of these advantages.
Retail sales jumped unexpectedly in June after declining for the past few months. However, the surprise rebound once again proves that the economy is on track for a faster-than-expected recovery, with people having started spending on goods.
Americans stepped up retail spending in June, offering a boost to the economic recovery as it faces concerns about accelerating inflation. Retail sales, a measure of purchases at stores, restaurants and online – rose 0.6% last month compared with May, the Commerce Department reported Friday.
As the weather warmed up and vaccination rates increased, the restaurant business is approaching 2019 levels. Compared to the same months in 2019, restaurant visits were down -10.4%, -7.8%, and -3.8% in April, May, and June, respectively, according to Placer.ai.