There was a lot of interesting news on retail and retail real estate over this holiday weekend. Word on the street is that Vornado Realty Trust, which owns big box toy seller Toys 'R' Us, is looking to cash out on the chain this summer. Meanwhile, Related Cos. head Stephen Ross might end up saving the seemingly doomed Xanadu Meadowlands development in Northern New Jersey. For more on retail and retail real estate follow the links below:
- The Global Retail Executive Council Liveblog takes a look at Best Buy's smarphone apps.
- Marketing Daily claims Facebook is one of the most effective tools for driving up shopper traffic.
- TwinCities.com reports that Supervalu will sell 18 Shaw's supermarkets in Connecticut.
- The CoStar Group has a story up saying the market for distressed real estate debt is growing.
- Commercial real estate lenders expect to increase their loan production in 2010, according to DSnews.com.
- NorthJersey.com looks at Stephen Ross' past development record in the context of his rumored interest in Xanadu Meadowlands.
- Vornado Realty, along with partners Bain Capital and Kohlberg Kravis Rorerts, would like to cash out on Toys ‘R' Us through an IPO planned for this summer, according to The New York Post.
- Troubled jewelry seller Zale hired an investment banking advisory firm to help it consider strategic alternatives, reports Dallas News.
- Brokerage firm CBRE published a report showing cap rates on retail properties continue to increase.
- Brokerage firm Sperry Van Ness is providing advice to investors on how to take advantage of 1031 exchange in a short sale.
- The Wall Street Journal reports that U.S. mall owners believe the worst of the downturn is over for retail landlords.
- According to Business Week designer Tory Burch plans to open up to 100 stores worldwide in the next three to five years.
- Seeking Alpha reports that a recent insurance payout is helping Syms boost its financial position.
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