Check out the latest roundup of national and CRE industry stories reported by CoStar’s News team over the last few days.
Macy’s To Close 100 Stores
The American retail icon will close about 15% of its stores following a lackluster second-quarter sales report. Macy’s, which is focusing efforts on its more productive stores, is still studying which stores to close and will announce their locations at a later date.
Era of REIT Dispositions May Be Coming to An End
Major equity REITs are now signaling that this period of heightened disposition activity may be winding down. While still expected to remain net sellers, trusts - which started the year in aggressive sales mode - ratcheted back transaction activity in the second quarter. Signs are that the trend is continuing in the third quarter.
U.S. Banks Tightening CRE Lending Standards
Second-quarter bank earnings results and early third-quarter lending numbers clearly show U.S.-based banks have tightened their underwriting standards for CRE loans. Institutions continue to face increased scrutiny of their CRE lending portfolios by bank examiners.
Largest Global CRE Firms Report Robust Leasing, Sales Activity
The major brokerages continue to report strong business across the board. CBRE Group, JLL, Colliers International and Marcus & Millichap are enjoying solid increases in U.S. leasing and sales in spite of investor skittishness due to Brexit concerns.