Retail and Hotels Stall CMBS Recovery
The CMBS delinquency rate has steadily improved since a peak in June, but some asset classes are keeping the overall rate high. A new report from DBRS Morningstar looks closely at the CMBS delinquency rates from the last year, and found that retail and hotel properties could be hindering a recovery. Overall, the CMBS delinquency… Read more »
$2B Flushing Waterfront District Approved By City Council
Rendering of the Flushing Waterfront District via Jeff Stikeman Architectural Art After a year filled with political resistance to new developments, the New York City Council approved the Flushing waterfront development Thursday afternoon after several delays. Developers United Construction & Development Group, F&T Group and Young Nian Group are set to create a new district… Read more »
Distressed Commercial Property Sales Seen Surpassing Last Crisis
An estimated $126 billion in commercial real estate will be forced to sell at distressed prices through 2022, more than the first two years after the global financial crisis, according to CoStar Group Inc. Distressed hotel, retail, office and other properties will continue to flow to the market over the coming five years, potentially reaching… Read more »
CubeSmart closes three deals in Brooklyn and Queens in year-end splurge
Self-storage giant CubeSmart purchased two buildings in Brooklyn and Queens for a combined $125 million and secured a new ground lease valued at $50 million. The self-storage sector has proven to be among the most resilient to the pandemic, as economic headwinds tend to bolster demand for storage space. The Real Deal
Are doc’ shops the new high street staple?
High street stores are set to be overtaken by doc shops as phenomena known as “medtail’ becomes the new retail norm. That’s according to the 2021 Retail Healthcare Outlook released by retail consultants, Tether Advisors, which predicts an acceleration of the trend in high street medical retail as a result of the COVID pandemic. Real… Read more »
The Coffee Bean & Tea Leaf Expands to New York Area, Starting With Store in Fort Greene
The Los Angeles-based specialty beverage brand The Coffee Bean & Tea Leaf is expanding to New York, with the first store having opened Aug. 28 in the Brooklyn neighborhood of Fort Greene. Franchisee Hudson River Coffee & Tea plans to open a number of stores across the New York metro area, including a second Brooklyn… Read more »
How KDA Has Helped Tenants Weather the Pandemic – and Why Commercial Real Estate May Rebound Faster Than Most People Think
By Neil A. Dolgin Nearly nine months into the pandemic, the long-term impact on commercial real estate is still anybody’s guess as virtually every industry continues to feel the economic fallout. Over the past month in New York City alone where life finally appears to be returning to some normalcy, multiple hotels, including the Times… Read more »