Nationwide, tech companies' direct office leasing comes to 20% of all activity -- close to double the 11% of five years ago, according to CBRE Group. The sector's market share will increase, "but we just don't know by how much," Colin Yasukochi, director of research and analysis at CBRE, says.
One of Saul Centers' limited liability corporations has bought an office building in downtown Bethesda, Md., for $35.5 million. Chevy Chase Land Co. sold the five-story, 69,601-square-foot property.
Sears Holdings CEO Edward Lampert is asking creditors to restructure about $1.1 billion of debt that will be due next year and in 2020 as part of his efforts to stave off bankruptcy. The restructuring proposal, which has to be approved by the board and the retailer's creditors, also calls for the sale of another $1.5 billion of real estate and the divestiture of $1.75 billion of assets.
Reven Housing REIT launched in 2012 with a focus on an asset class that was just beginning to emerge -- single-family rental housing -- but with a twist: It sought out small portfolios of modest rental homes in major markets that could deliver cash flow. Today the company owns more than 800 homes in the Southeast.
A bill in New Jersey would designate buildings once used for retail or office space that are now vacant, or at least 50% empty, as areas eligible for economic incentive. The effort aims to encourage repurposing of these properties through incentives such as making payments or starting pilot programs instead of paying taxes.
The Haven, a planned upscale retail outlet center in West Haven, Texas, will receive $5 million in grant funding for updates to area roads. The funding will help improve infrastructure to allow for the expected increase in traffic that the development will bring.
Shipments of goods from China to the US are at a four-year high as Chinese exporters rush to land deliveries before the latest US tariffs bite. A 10% levy applies to a range of Chinese goods starting Monday -- 25% starting next year -- although US retailers such as Walmart and Target have indicated they will not increase consumer prices in the near term.
Trump administration tariffs on $200 billion in Chinese imports set to take effect Monday are likely to hit small merchants especially hard, and many say they'll either have to raise prices or lose profits on the goods they sell.
"[T]he smaller you are, the more vulnerable you are to the impact," NRF's David French said.
For the first time, BBB-rated bonds account for more than 40% of US corporate bonds, James Mackintosh writes. Meanwhile, Europe has replaced most of lower-rated bonds with bonds slightly above investment grade.
Duke Realty has acquired a 25.5-acre industrial development site in the Irwindale submarket of the Los Angeles area for $62.5 million. The site could support a 500,000-square-foot warehouse.