Hudson Yards in Manhattan introduces more luxury residential space into a market that is threatening to become oversaturated and more inequitable.
E-commerce hasn't killed physical retail, as many observers feared it might -- instead, technology is reshaping the physical shopping experience, writes entrepreneur Daniel Freedman. Amazon's acquisition of grocer Whole Foods and its planned integration into Amazon Fresh are examples of how e-commerce companies are emphasizing the best things about in-person experiences while minimizing the hassle factor.
Senior-housing developers are building a new concept in Manhattan despite doubts about how widespread the appeal will be: luxury housing in urban locations for assisted living. The "absolute lack of supply of this product provides some comfort that even though these are pioneering projects, there will be demand," says Michael Knott, managing director at Green Street Advisors.
Single-family home rental REITs have established themselves as long-term players providing additional housing options at a time when the housing market continues to recover. This commentary reviews this REIT market segment's rapid growth and the outlook for what may lie ahead.
Malls are adding unique tenants -- such as Madame Tussauds wax museum at Opry Mills in Nashville, Tenn., and an indoor rope course at Palisades Center in West Nyack, N.Y. -- and otherwise trying to emphasize experiences in order to keep the centers full and vibrant. In other cases, they are redeveloping into mixed-use complexes.
Quality Care Properties has filed suit to remove HCR ManorCare as the operator of its skilled-nursing and assisted-living facilities in order to replace it with a court-appointed receiver over unpaid rent. Quality Care Properties also wants to evict HCR ManorCare and find new operators for the properties.
Northshore Mall in Peabody, Mass., is investing in a multimillion-dollar project to improve its landscape, food offerings, and community event and performance opportunities. Retail centers continue to add new retailers, but they also see the value in adding more experiences to providers as they combat e-commerce.
Midway Shopping Center's owner, Rick Birdoff and RK Midway, has come to an agreement with Minnesota United and its owner, Bill McGuire, to allow Minnesota United to take possession of the retail area. The move allows for the building of a $200 million soccer stadium, while requiring some tenants to vacate the property.
Union, N.J., may see the development of a new shopping center, with spaces ranging from 1,200 to 9,500 square feet. Levin Management Corp. will build, lease and manage the property.
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