Royal Oak is getting a new publicly traded company headquarters in the old Art Van. Bloomfield Hills-based retail real estate investment trust Agree Realty Corp. (NYSE: ADC) has purchased the former Art Van Furniture Inc. store on Woodward Avenue, north of Normandy...
That’s a lot of doughnuts DealBook’s Lauren Hirsch broke the news yesterday: Dunkin’ Brands is close to a $8.8 billion deal to sell itself to Inspire Brands, the restaurant operator backed by the investment firm Roark Capital. A deal could be announced as soon as...
As COVID-19 accelerates the decline of department stores and traditional apparel brands, some New York City landlords and brokers are facing the question of what to do with the cavernous, mostly windowless blocks of space that were once major shopping hubs. That...
A confluence of factors conspired to drive down rents at self-storage properties earlier in the year, but now with new demand generated by the broader disruptions caused by the COVID-19 pandemic, the sector’s fortunes have stabilized. Though the majority of properties...
WHAT MAKES THE ROLE OF LIBRARIES UNIQUE DURING THIS TIME OF SOCIAL DISTANCING? Libraries always have been asked to do a great deal to serve the public and a wide variety of people—from balancing traditional print media with high-tech services, to serving as a quiet...
Prologis, the world’s largest owner of commercial warehouses, estimates that e-commerce customers require 1.2 million square feet of distribution space to support each $1 billion in sales. That figure helps explain why leasing activity rebounded quickly after a...
Swedish retail giant Ikea, known for its inexpensive, modern, hard-to-assemble furniture, traditionally doesn’t target urban cores. Instead, it typically builds its warehouse-style stores, averaging 320,000 sq ft., in suburban areas. Now, the Ingka Centres shopping...
When states around the country essentially locked down to help curb the spread of COVID-19, outlet centers, like regional malls, were forced to temporarily shutter, which took its toll on the sector. “Outlets are one of the property types most impacted by COVID, with...
When Oronde Kearney became the Chief Academic Officer at Academy of Warren (AOW) three years ago, his first impression was simple: this is a wonderful school in a less-than-wonderful environment. Back before it was a school, the AOW building used to be a supermarket,...
As restaurants across the United States close their doors in the wake of the coronavirus (COVID-19) pandemic, new delivery-only endeavors have an opportunity to gain market share. One segment of the restaurant industry that is thriving are ghost kitchens. These...
A handful of warehouse robots helped American Eagle Outfitters Inc. cope with a flood of online orders during coronavirus lockdowns as consumers loaded digital shopping carts with hoodies, leggings and loungewear. Now the company is stepping up its use of automation....
Catie McKee was nervous. It was last October, and the 31-year-old hedge fund analyst, who had been scrutinizing the mortgages on the nation’s malls, was convinced that some of those malls would default on their loans. She and her colleagues had even bet a substantial...
Like a lot of white-collar professionals, Brad Hargreaves has been working remotely since March. The founder and CEO of Common, the U.S.’s largest co-living company, Hargreaves found himself making his own co-living arrangement when the pandemic hit, relocating with...
Employers will rely on a fair amount of technology to bring workers back to the office in the COVID-19 age, office design experts say. Some of it will be to connect to offsite co-workers and clients, while other components will be used to reduce coronavirus...
Walmart and Target reported record sales in the second quarter, driven by the convenience of one-stop shopping and their e-commerce operations. In the early days of the pandemic, when grocery stores in the United States ran low on staples like toilet paper, people...
The spread of the coronavirus has had a devastating impact on the U.S. and worldwide economies. But that spread also created health and wellness scenarios for the built environment that lend themselves to reconstruction and renovation, say AEC firms. “I anticipate an...
Remember what visiting the mall felt like? You contend for a parking spot, find the location of stores on the mall map, stroll from store to store, grab a sandwich at the food court, and then return home satisfied with bulging shopping bags. Now, things look a little...
From retail-infused brands to Airbnb, the hospitality industry has seen its share of disruptors over the past several decades. These disruptions have been relatively gradual and allowed time for the savvy hotel brands to anticipate and react to change. The COVID-19...
Since the coronavirus pandemic arrived in the U.S., contractors have been increasingly nervous about maintaining and building their backlog of work as jobs in some areas and sectors are put on hold or canceled. To build their books, many firms are bidding on more...
Analysts at Lodging Econometrics (LE) report that at the close of the second quarter of 2020, the total U.S. hotel construction pipeline stands at 5,582 projects/687,801 rooms, down a mere 1% by projects and rooms, Year-Over-Year (YOY). Remarkably, despite some...
As in-person apartment viewings return, industry sources say the technologies used during the shelter-in-place period will stick around even after the coronavirus pandemic ends. The use of virtual apartment showings and paperless leasing spiked during the pandemic,...
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