Wall Street Journal (February 7)
“Luxury retailers, flush with cash, are spending big on real estate in the world’s most expensive and exclusive shopping corridors” including New York’s Fifth Avenue, Avenue Montaigne in Paris, and London’s New Bond Street. The “shopping spree shows that retailers are using their considerable cash to free themselves from the control of landlords and plant their flags on streets where they want a long-term presence.”
Tags: Avenue Montaigne, Cash, Exclusive, Expensive, Fifth Avenue, Flush, Landlords, London, Luxury retailers, New Bond Street, New York, Paris, Real estate, Shopping corridors
Reuters (August 23)
“Office owners’ valuations are in the basement. U.S.-listed landlords like $20 billion Alexandria Real Estate Equities (ARE.N), $10 billion Boston Properties as well as France’s 7 billion euro Gecina recently traded at half the forward earnings multiples they enjoyed before the virus emptied offices.” If, however, corporate leaders “are successful in driving the white-collar herds back to the office,” then those “office stocks may come back from the dead.”
Tags: Alexandria, Boston Properties, Come back, Dead, Forward earnings multiples, France, Gecina, Landlords, Office, U.S., Valuations, White collar
San Francisco Chronicle (May 16)
“Pandemic or not, restaurants can’t find rental space.” The real estate landscape is “nearly as heated as pre-pandemic levels.” One would expect “tons of options on the market at reasonable rates, but there are few deals—and competition for what’s available is intense…. Landlords, meanwhile, are hesitant to offer discounts because they’ve lacked income over the pandemic themselves.”
Tags: Competition, Deals, Discounts, Heated, Income, Landlords, Market, Pandemic, Pre-pandemic levels, Real estate, Rental space, Restaurants
