Cirex Views & News Commercial Real Estate Insights
by Ralph Kamps
cirexnews.com $1.6 Billion in Debt Buries Nine West
Another weekend, another major retail bankruptcy. This time it was privately held Nine West Holdings Inc., a women`s shoe and apparel wholesaler, which filed for bankruptcy after racking up about $1.6 billion in debt, the second-largest amount of debt on rating agencies` list of `loans of concern` last year.
Coincidentally, the company also reported $1.6 billion in revenue in fiscal 2017.
Private equity firm Sycamore Partners Management acquired the company and affiliated brands in the 2014 for $2.2 billion... RSK: As the song goes by Freddie M "And another one bites the Dust"
U.S. Food Hall Market Expected To Triple By 2020
Food halls have become the hottest trend in retail, and a new report projects the market will nearly triple in size by 2020.
When Cushman & Wakefield first began tracking food halls, open eatery concepts developers across the country are putting into mixed-use projects, in 2015, it found 70 projects across the U.S.
That number had grown to 118 by the end of 2017. Based on under-construction and planned projects, the firm`s 2018 report projects there will be 180 food halls by year-end and 300 by the end of 2020....
RSK: Is this a Food Court on Steroids or a way to cut down on employees. It does have merit though.
Ken Notes:we keep talking about entrepreneurial support and failing re- tail. Why not turn struggling malls into startup hubs for retail, meeting, office, dining, and co-working spaces. It beats the hell out of EMPTY...
4 Models Of The Shopping Mall Of The Future
Despite the strong growth in retail sales in 2017, the retail real-estate market continues to be roiled by trends that look to pick up steam in the future. U.S. mall vacancy rates through the first quarter of 2018 are at the highest level since the end of 2012. Overall retail real-estate vacancies stood at 10% in the first quarter, according to data compiled by Reis.
Filling those retail vacancies will only get harder, suggests a report from the Advisory & Consulting group of Green Street Advisors. The report focuses on trends for in-line tenants, rather than anchors. Since in-line tenants have the greatest impact on mall net operating income, the report states “their performance offers a preferred indicator of mall health.”...
RSK: Yes it will take creativity but what most Malls have going for them is location and parking.
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May2018 55
Wisconsin Development News
by KEN HARWOOD
wisconsindevelopment.com
Wisconsin ginseng growers worry about new Chinese tariffs
WAUSAU - Ginseng growers in Wisconsin are worried about the future of their business after a tariff went into effect overnight in China.
The tariff places an extra 15 percent charge on top of the price of American ginseng in China, in response to the Trump administration`s newly imposed tariffs on steel and aluminum entering the U.S.
China also is imposing tariffs on other products such as pork, fruit, nuts and wine.
The Chinese government suggested the tariff last month and originally planned to wait 60 days before it was enacted, but the process was accelerated and the tariff went into effect early Monday morning, said Bob Kaldunski, the president of the Ginseng Board of Wisconsin, based in Wausau. China is the largest consumer of American ginseng... .
Ken Notes: One of the great flaws in any quick decision is the ripple effect it has on all the other businesses it touches. China clearly profits from exporting low cost tech and product to the US but the are also one of the largest and fastest growing markets in the world. The have 1.4 billion people who are just now emerging into a cohesive market with actual money to spend. Now does not seem the best time to close this door.
Revised plans focus solely on hotel space for MATC Downtown campus development
A developer is eyeing more hotel space in lieu of an office tower for the Madison Area Technical College Downtown campus after a partner on the project dropped out.
Drury Southwest, a Missouri-based hotel company, is revising a proposal that called for renovating the college’s Downtown Education Center, 211 N. Carroll St., into a hotel and constructing a 10-story office tower on the eastern half of the property that is currently a parking lot...
Ken Notes: Transit hub?? ..
KEN HARWOOD The Future Wisconsin Project and Wisconsin Development News P.O. Box 930234 Verona, WI 53593-0234 Phone (608) 334-2174
ken@wisconsindevelopment.com
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