Sales increase as buyers and sellers move closer on values, CoStar data shows The potential end of a long slide in commercial property price declines is coming into view. (iStock) By Mark Heschmeyer CoStar News February 28, 2025 | 4:31 P.M. New signs are emerging of a possible bottom to a more than two-year run in […]
Torrent of US store closings surges on as crafts retailer Joann to shut 500 stores
Chain looks to shed more than half its locations Joann’s second bankruptcy filing in less than a year is resulting in a wave of store closings. (CoStar) By Linda Moss CoStar News February 12, 2025 | 4:15 P.M. This year’s surge of U.S. store closings is raging on unabated, with sewing-crafts retailer Joann now planning to […]
Occupancy rates rise across a growing number of US industrial markets
Latest signal emerges that national occupancy rate may be near a turning point Solar Plus moved into 567,000 square feet of space at Nexus North Logistics Park in Humble, Texas, in December, helping to drive the Houston industrial market’s vacancy rate down for a second straight quarter. (CoStar) By Adrian Ponsen CoStar Analytics January 29, 2025 […]
Bill Ackman seeks to transform Howard Hughes Holdings into ‘modern day Berkshire Hathaway’
Billionaire investor offers to form subsidiary to buy controlling interests in operating companies Summerlin in Las Vegas is where Howard Hughes built one of the nation’s top-selling master-planned developments. (Zachary Mirer/CoStar) By Candace Carlisle CoStar News January 13, 2025 | 5:01 P.M. Billionaire investor Bill Ackman’s Pershing Square made a bid to merge with Howard Hughes […]
Blackstone to buy Jersey Mike’s, the latest private-equity takeover of a US restaurant chain
Investment giant strikes $8 billion deal for majority stake in sandwich shop business Jersey Mike’s Subs is going to be majority-owned by New York-based private-equity firm Blackstone. (CoStar) By Linda Moss CoStar News November 19, 2024 | 5:08 P.M. Blackstone still has a hearty appetite for investing in restaurant chains as it looks to buy a […]
US store closings soar past any full-year total since height of pandemic in 2020
But there are tenants to fill the space with retail vacancy still low, analysts and brokers say Announced store closings have surged in the back half of 2024. (Getty Images) By Linda Moss CoStar News November 6, 2024 | 5:33 P.M. U.S. store closings have accelerated, surpassing any full-year total since the height of the pandemic […]
Walgreens to shut 1,200 stores as it joins other pharmacy chains slashing their footprints
Global drugstore behemoth to close initial 500 locations in fiscal 2025, weighs future of VillageMD In addition to 1,200 announced store closings, Walgreens is reviewing another 800 locations for possible action. (CoStar) By Linda Moss CoStar News October 15, 2024 | 3:48 P.M. Pharmacy giant Walgreens Boots Alliance plans to close roughly about 1,200 underperforming U.S. […]
7-Eleven to close more than 400 underperforming stores as it mulls buyout offer
Convenience store chain also agreed to $520 million sale-leaseback of stores 7-Eleven and other convenience store chains are expanding offerings of prepared foods to offset a sales slowdown in other areas. (CoStar) By Andy Peters CoStar News October 10, 2024 | 4:29 P.M. The parent company of 7-Eleven is planning to close 444 stores in the […]
Insatiable data center demand pushes sector to record-low vacancy
As US power grid nears full capacity, some companies are finding new ways to generate power By Candace Carlisle CoStar News October 4, 2024 | 1:08 P.M. The nation’s data center market is showing no sign of letting up as insatiable demand, driven by the rapid growth of artificial intelligence, pushes the sector to record-low […]
Home Depot shutters three large US distribution centers in less than 30 days
Closings reflect broader challenges for retailers affected by low home sales and slowing residential construction Elwood Logistics Center in Goodyear, Arizona, was one of Home Depot’s 10 largest U.S. distribution centers before it was listed for sublease in September. (John Williams/CoStar) By Adrian Ponsen and Connor Devereux CoStar Analytics October 2, 2024 | 2:47 P.M. Since the end […]