Consumers’ priorities reinforce positive outlook. One of the nation’s least-vacant commercial real estate segments, the retail sector entered the second half in a favorable position. Labor market resiliency, wage growth and easing inflationary pressures are aiding consumers’ purchasing power, with households concentrating more of their spending on groceries, personal care [...]
Sellers retain leverage amid deficient supply. Homebuyers have yet to see the market turn in their favor as of mid-2023, despite predictions offered earlier by some prognosticators. Many anticipated that higher interest rates would stymie purchases and prompt sellers to drop prices. While part of this has come to fruition [...]
The 10-Year Treasury sits in the upper-3 percent range, with one-month Term SOFR in the low-5 percent zone. The cheapest interest rates for new origination are almost 6 percent, with max leverage agency debt constantly pricing north of that for non-mission executions. CMBS debt for riskier property types, such as [...]
Consecutive months of broad growth encouraging. Households increased their spending across a broad spectrum of stores in May, supporting a 0.4 percent rise in core retail sales. For the second straight month, eight categories registered sales growth, a testament to consumers’ spending power. The addition of 339,000 new jobs last [...]
Walgreens to close 150 stores in the U.S. In a recent announcement, Walgreens revealed its plans to close a total of 150 stores in the U.S. and 300 stores in the U.K., as stated by Walgreens Boots Alliance Chief Financial Officer, James Kehoe. This strategic decision is part of the [...]
Inflation slows to 27-month low. The headline consumer price index rose by 4.0 percent year-over-year in May, less than half the 9.1 percent pace recorded last June. While consumer prices are still rising more rapidly than the Federal Reserve prefers, the cool down from peak levels encouraged officials to hold [...]
Terminations of bank mergers have reached a record high this year and it could well be next year before M&A activity in the sector can restart, according to one analyst. “It won’t be a 2023 event,” says Nathan Stovall, director of financial institutions research at S&P Global Market Intelligence. “It will be [...]
DOJ to expand scrutiny of bank mergers A top antitrust official put banks on notice Tuesday that the Justice Department is expanding its scrutiny of mergers, looking at a broader scope of criteria and further empowering independent regulators to take the lead. Dollar General expanding to its 48th state Dollar [...]
Retail sales increase again in May as consumers continue to fuel economy Retail sales in May increased 0.4% from April and were up 4.4% year over year, according to the National Retail Federation, whose calculation excludes automobile dealers, gasoline stations and restaurants to focus on core retail sales. Shoe company [...]
H-E-B expanding lower-priced Joe V’s Smart Shop concept Joe V’s Smart Shop is headed to Dallas. In the first expansion of the value retail concept outside of Houston, H-E-B plans to open two Joe V’s Smart Shop locations in Dallas. The stores will open at 4104 W. Wheatland Road in [...]
