DAILY READS: Feb. 25, 2020

Big-box industrial breaks records. Affordable housing comes to Warner Center. Can this tenant type save struggling malls? Here's a batch of other critical content for you to read, listen to or watch.

Can Ghost Kitchens Replace Bankrupt Mall Tenants?

“Retail store closures set an all-time record in 2019 with around 9,300 closings, according to research firm Coresight Group. In 2020, the consensus is store closures and bankruptcies will continue to weigh heavy on landlords. But despite these struggles, the food and beverage sector continues to expand.” Read more
National Real Estate Investor

North Texas Warehouses Selling as Part of $730 Million Deal

“Three North Texas distribution buildings are part of a $730 million purchase of warehouse properties across the U.S.  Toronto-based WPT Industrial REIT is buying more than two dozen industrial buildings from an affiliate of Pure Industrial Real Estate Trust.” Read more
Dallas Morning News

Records Begone: Big Box industrial Achieves New Highs

“According to last year’s figures, this category’s 6.76 percent vacancy rate turned out to be the lowest as large-footprint users returned to the market. The overall big box vacancy rate decreased by 54 basis points to 8.53 percent in the Chicago area during 2019, the lowest the rate has been since Q2 2017.” Read more

Macy’s Tech Hub Brings Hundreds of Jobs to Midtown, Could Help Reinvigorate Company

“The company recently announced plans for a $14 million technology hub at Atlanta’s T3 West Midtown facility off 17th Street that would create 630 new jobs. The majority of the positions are centered on software development in an effort to boost its online sales.” Read more
Atlanta Journal Constitution

A First for Warner Center: Developer Says Yes to Affordable Housing

“Plans to redevelop a struggling mall into 34-acres of housing, new shops, and an event venue has become the first major project in Warner Center to incorporate affordable housing units.  Developer Unibail-Rodamco-Westfield announced Friday it will include 100 rent-restricted units among the first 1,000 units it builds as part of the project. Read more