Each Wednesday, The Wrap presents a compilation of recent noteworthy commercial real estate stories from a variety of publications. Below are links to five stories that caught our eyes in recent days:
2016 Another Banner Year for Commercial Real Estate, CoStar
Key Excerpt:
“For all its ups and downs, U.S. commercial real estate enjoyed another banner year in 2016, thanks in large part to the unprecedented run in multifamily rents and property values and the fact that the U.S. continues to be viewed as a ‘safe haven’ by global property investors.”
Signs the Apartment Boom May Be Fizzling, Multifamily Executive
Key Excerpt:
“Fewer newly-constructed apartments are being rented out, according to figures released early in December by the Commerce Department. The “absorption rate” — whether an apartment has been rented within three months of completion — was 58 percent in the second quarter of this year, down from 66 percent in the same period in 2015 — for a smaller pool of apartments.”
Developers Lower Density on $60 Million Brookhaven Project, By Ellie Hensley, Atlanta Business Chronicle
Key Excerpt:
“Developers of a $60 million mixed-used project dubbed Dresden Village lowered the density of the development from 194 to 169 units in an effort to get rezoning approval from Brookhaven City Council.”
Highline Real Estate Acquires Citadel Square Shopping Center in Metro Atlanta, Shopping Center Business
Key Excerpt:
“HRE Citadel Square LLC, an affiliate of Highline Real Estate Capital, has acquired Citadel Square, a 50,878-square-foot shopping center located roughly 20 miles outside Atlanta in Stone Mountain.”
Kroger’s Big Deal — Buying Walgreens and Rite-Aid Stores — Didn’t Happen, but It Still Matters to Publix, By Ashley Gurbal Kritzer, Tampa Bay Business Journal
Key Excerpt:
“The pursuit of a small format store — especially one with a heavy focus on pharmacy and health and beauty items – makes sense for Kroger. If its path to a presence in specialty grocers is any indication, the rumored Rite-Aid/Walgreens deal may not be its only crack at smaller stores. If it does go that route, it will have implications throughout the retail and grocery industry, which are already trending toward smaller storefronts.”