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Retail Real Estate News Update – Q2 2020
N3 Real Estate put together some of the top headlines for retail real estate news stories in Q2 2020 from CRE news sources around the country.
National Retail News
Restaurant-Retailers Adapting to Pandemic Economy by Acquiring More Outdoor Space
Restaurants are looking to redefine their operable real estate due to the fact that 50 to 75% of interior customer capacity has been reduced / removed. One idea that follows a more European model is, the push to allow table service on more outdoor sidewalks, plazas and even streets. Read More
National Retail Market Report Predicts That a Record Number of Retailers Could Close in 2020
While some retailers / restaurants are adapting to the current economic landscape, others are having to fold their cards. The prediction is that a record number of retailers will be closing their doors during 2020. Read More
Tenants’ Troubles with Lease Payments Adds Another Level of Stress to CRE Market
Numerous retail tenants are struggling to pay rent during the pandemic due to the quarantine and forced shut downs across the country. If retailers fail to pay rent, it will bring an added stress to the entire economic situation for commercial real estate. Read More
Retail Owners Nationwide Still Support the Protests Sweeping the Nation Despite Having Damaged Property
Several retail owners and retail real estate experts chime in on the protests that took over the streets of many cities around the country. Read More
Florida Retail News
MMG Equity Partners’ Florida Retail News
MMG Equity Partners, based in Miami, FL, covers the latest news, reports, and transactions from Florida’s retail real estate market, focusing on Miami and South Florida. Read More
Georgia Retail News
Jamestown Providing Financial Aid with $50M Fund to Help Small Business Owners Reopen
Jamestown, a major developer of mixed-use real estate projects nationwide, announced that it has created a fund to help small business owners. Even though they collected over 80% of their rent from tenants in May 2020, they are creating the fund looking at Q3 / Q4 being more troublesome for their retail tenants. Read More
Georgia Retail Property Set to Receive Major Revamp
Ultimate Realty in the works to transform Georgia’s first air-conditioned shopping center into the 395K-square-foot industrial real estate property. Read More
SoftBank Affiliate Acquires Kystal Restaurants
In January, Krystal filed for bankruptcy protection of its 182 restaurants in nine states nationwide. However, in Q2 2020, Fortress Investment Group an affiliate of SoftBank Group decided to acquire the bankrupt business. Read More
Texas Retail News
Texas Retail Sales Reach Two-Year Highs in June
According to the Dallas Federal Reserve’s Texas Retail Outlook Survey, more than half of their reported retail respondents said there was an increase in sales in June compared to May, with less than 25% saying that sales declined month-over-month. Read More
Colliers International Set Up Sale of Leased Retail Asset in Austin, TX
The retail asset in Austin sold for $7.4 million. The transaction was made via a 1031 exchange. The retail property is a 12,900-square-foot space that is currently occupied by CVS, and they have a 13-year lease on it. Read More
Mixed-Use Real Estate Project Planned for Austin Airport Property
Major mixed-use project set to be east of the Airport in Austin, Texas is getting bigger. The full scope of the project will have over 7 million square feet of multifamily, office, industrial, and retail spaces. Read More
Retail Chain Moving HQ to Dallas, TX
Specialty retail chain, Buff City Soap, is moving their headquarters from Memphis, TN to Dallas in order to better position itself geographically. Read More
Virginia Retail News
Mid-Atlantic Retail Portfolio Exchanges Hands for $90M
Slate Retail REIT acquired a seven-property retail portfolio. The properties are all grocery-anchored centers, and they sold for $90 million altogether. Read More
