Jill Szymanski

Hate to point fingers or assign blame, but this is just one of many examples of PE coming in to buy retail/restaurants, sell off the real estate on sale-leasebacks with high rents, recoup their investment and cross their fingers that the establishment survives. . . . in many cases the result is bankruptcy and the small investors that acquired the real estate gets pinched for either rents concessions (i.e. lower returns) or they end up with a vacant building. In the end it hurts the real estate industry (imho)

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Mark, your point about the last-mile warehouse ban is spot on! It feels like a missed opportunity for NYC. However, savvy investors might see it as a golden chance. Since congestion pricing became a hot topic around 2019, we've witnessed a surge of institutional capital targeting strategic locations just outside the city limits. Rockland County is a prime example – recent deals secured prime facilities for major players like Rivian, UPS & Amazon. These strategically located facilities offer the perfect blend of flexibility and efficiency for businesses serving the NYC market, especially with congestion pricing looming. Similar activity is happening on Long Island, with investors snapping up properties perfectly positioned to cater to NYC's needs. This trend underscores a forward-thinking approach by both businesses and investors, capitalizing on the evolving logistics landscape. Exciting opportunities are emerging for those "in the know." TPG Angelo Gordon, Onyx Equities, Starwood Capital Group, WILDFLOWER LTD, CBRE Investment Management Mark G. Levy, any thoughts on how this might impact the future of NYC logistics? #offmarket #industrial #logistics #lastmile

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Retail bankruptcies have resumed. Today, two tenants on the landlord watch list filed for bankruptcy protection: Bob's Stores and Eastern Mountain Sports. It's the fourth time that Bob's Stores has sought bankruptcy protection. Chapter 11 bankruptcy allows the retailer to keep operating while negotiating with creditors and formulating a plan to move forward. It usually means, the bankruptcy court will allow it to break leases and close underperforming stores. Both chains combined owe PNC $29.4 million, in addition to obligations to landlords and suppliers totaling nearly $27 million. GoDigital Media Group owns both brands. Bob's Stores has been around for 67 years and operates 35 big-box stores in open-air community centers and power centers throughout the Northeast U.S. selling apparel, footwear and workwear. Eastern Mountain Sports operates 20 big-box stores, also in the Northeast, and has been around for half a century. It sells outdoor apparel and gear.

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I have been getting a lot of calls lately from South Boston property owners wanting to know what their rental competition is like, and if they are accurately priced. South Boston sees some of the lowest turnover amongst the city's neighborhoods. When an apartment becomes available for rent, it makes sense for property owners to wonder how much the market has shifted since the last time they listed it years ago. Our 2024 South Boston Apartment Rental Market Report will help property owners, renters, and real estate agents alike to better understand the latest trends in this sub-market. Please read it and let me know your thoughts in the comments! #BostonApartments #BostonRealEstate #SouthBoston #SouthBostonApartments #SouthieMA #Renters #Landlords #RealTimeData #MostLandlords #MostListings #MostRealTimeData #MostKeys #MostLeads #MostDeals #MostTrusted #BostonPads

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Alterra Property Group, raised nearly $1 billion for an IOS fund 🤯 🤯 🤯 Their previous fund closed at $524 million in 2022. Alterra currently owns 185 IOS properties across more than 30 states The fund's focus will be on acquiring properties outside city limits, specifically designed for trucks and storage. Despite the e-commerce boom subsiding, demand for IOS facilities remains strong due to their low capital expenditures and an attractive 8% rate of return. The future looks promising for the expanding IOS market, which is projected to reach a $200 billion this year. There are many doubters out there. What do you think? https://lnkd.in/eZdzh9FQ

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📊 2023's Leading Markets for Self-Storage Investments A glance at Yardi Matrix reveals the hotspots: 🏙️ NYC leads with $281M 🌟 White Plains, NY follows at $209M 🌵 Phoenix heats up with $189M 🌴 Tampa secures $121M 🍍 Charleston, SC rounds out with $118M Despite a bustling market, national sales saw a 64% dip to $3.6B from the previous highs of $10B in '22 and $13.8B in '21. #RealEstate #InvestmentTrends #SelfStorage

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Subway announced last week that it will sell itself to Roark Capital for $9.6 Billion. Roark Capital is not only invested in Inspire (parent of Arby's, Baskin Robbins, Buffalo Wild Wings, Dunkin'​, Jimmy John's & Sonic), but also GoTo Foods (Auntie Anne's, Carvel, Cinnabon, Jamba, McAlister's Deli, Moe's Southwest Grill, and Schlotzsky's), The Cheesecake Factory, Carl’s Jr / Hardee's, and Culver's. Roark Capital has $35 billion in assets under management. Since its inception, affiliates have acquired 105 franchise/multi-unit location brands that generate $70 billion in revenue across about 67,700 locations. There are no anticipated changes to Subway’s leadership team, strategic focus, or operating plans in connection with the sale. It will be kept separate from Roark Capital’s other brands. Subway sits at nearly 37,000 restaurants in more than 100 countries. It is the third-largest restaurant chain in the world, following McDonald's’s and Starbucks. In the U.S., it has over 20,000 units, making it the largest chain domestically in terms of footprint.

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Wrapping up the first half of 2024, Boston and the Greater Boston area have seen continued home price increases while inventory remains low. The "lock-in effect" and competition over limited inventory continue to be major forces contributing to value increases year over year. July and August tend to be slower months in the local market, particularly August, when many prospective buyers and sellers take advantage of the nice weather to vacation. We expect to see higher days on market during this time, which is typical yearly seasonality. Usually, there is a pop in real estate sales activity post-Labor Day through the end of September. We call this the Fall Market. Home sellers can continue to capitalize on the opportunity to sell their homes for record prices, and they should also be cognizant of the effects of seasonality on buyer demand. It's important to strategize regarding listing timing to extract maximum value when selling a home. Although it can be challenging to navigate today's market as a buyer, it's important to remember that not much has changed over the past several years, and experts predict continued low inventory with high demand for housing. For those waiting for rates to "drop", we recommend being cautious as lower rates usually lead to exponentially higher demand (meaning even more competition). Curious how market conditions may affect your home selling or home buying journey? Don't hesitate to reach out! -Zack & Carly ZackHarwood.com

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Atlantic Capital Partners has been exclusively engaged to market for sale Stow Shopping Center, a grocery-anchored shopping center located in the Metro Boston community of Stow, Massachusetts.  Click here to access the Offering Memorandum: https://lnkd.in/eRX5rnJV Please contact Justin Smith, Chris Peterson, Sam Koonce or Danielle Donovan for more information on this property. #CapitalPartners #CapitalMarkets #RealEstate #Retail #RetailRealEstate #RetailLeasing #CommercialRealEstate #Investments #AdvisoryServices #AssetRepositioning

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Amazon ramping up real estate requirements again, interesting Bisnow article touching on the recent strategy. #commercialrealestate #amazon #warehouse #bostonrealestate

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🚨 New Listing | Store Space | New Bedford, MA 🚨 💲 $14,900,000 💲 🏦 88,817 SF | 802 Units 🏦 🖥 Offering Website: https://lnkd.in/eX_wEVY5 🖥 🔹 Priced Below Replacement Cost - The $14,900,000 asking price equates to just $167.76 psf and is a Stabilized 7.5% cap rate 🔹 Desirable Unit Layout - This conversion consists of 100% 1st-floor units with multiple unloading areas, providing short pull distances and premium ground-floor rental rates 🔹 Low Saturation - The 5-mile saturation is just 5.33 SF per capita, with just 3.48 SF of that being climate-controlled square feet. 🔹 Class "A" Amenities - This property was completely renovated in 2023 and features a professional on-site leasing office, multiple loading areas, 23 video surveillance cameras, coded access control system, and motion-activated LED lighting throughout the facility. 🔹 Strength of Demographics - The 5-mile population is 149,695 individuals with an Average Household Income of $81,955.  Additionally, 75% of the 11,629 housing units within one mile are renter-occupied. 🔹 Potential Expansion - The parcel has several areas where portable drive-up units could be added for additional revenue.

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Companies being attracted to the amenities offered by King of Prussia’s retail and dining scene aligns with the flight to quality that has played out in recent years. To read the full article, head to:  https://lnkd.in/eT2j-Yrz For more Mid-Atlantic commercial real estate news, follow us on LinkedIn. To learn more about Philadelphia Real Estate Council visit https://precouncil.org/  #realestatenews  #PREC  #realestate  #philadelphiarealestate  #CommercialRealEstate  #CRE  #RealEstateInvesting  #IndustrialProperty  #PropertyManagement  #InvestmentProperty  #CommercialProperty  #AssetManagement  #CommercialBrokerage  #PropertyInvestment  #PropertyPortfolio  #CREIndustry  #PropertyValues  #CommercialRealtor  #RealEstateMarket

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New StreetEasy Rental Market Report is out showing asking rents continuing to rise but the rate of increase moderating versus last year ⚖ Here are some of the highlights from the report, full insights linked: "Asking rents in New York City rose 1.7% year-over-year to $3,700 in April — the highest since September 2023 — but this growth rate is much slower than the 14% increase a year ago 🤔 Rising inventory across the city likely signals a calmer rental market this year, though NYC still faces a severe housing shortage 🏗 Rents soared in Brooklyn and Queens due to limited inventory and high demand, while the median asking rent in Manhattan is leveling off as inventory grows and demand cools." 💸 Thank you as always for your valuable research and analysis Kenny Lee 💡 StreetEasy, Zillow #newyork #realestate #housing #rentals #market #data #trends

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🏢 Decoding Broker's Fees in NYC's Rental Market 🗽 Understanding broker's fees is crucial for both tenants and landlords in the competitive NYC rental landscape. Here are some key points: 💰 Broker's fees are typically between one month's rent up to 15% of the annual rent, paid by the tenant. 🔑 Landlords may cover the fee as an incentive, especially during slower rental seasons. 🤝 Renters can negotiate broker's fees or seek no-fee listings. Working with an experienced real estate agent like Pinpointe Group can provide valuable expertise, access to exclusive listings, and assistance throughout the rental process. Explore alternatives like boutique brokerages for personalized service and potential fee negotiations. #NYCRentalMarket #BrokersFees #RealEstateAgents #PinpointeGroup #ApartmentHunting

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U.S. June Retail Sales Hold Up Better Than Expected Scott Anderson, Ph.D., Chief U.S. Economist, scotta.anderson@bmo.com,Don’t count the U.S. consumer out just yet. June retail sales handily exceeded expectations with the advance estimate coming in virtually unchanged in June (-0.02%) and with May sales revised up to 0.3% from 0.1%. The consensus forecast had expected a 0.3% decline in sales. A large 2.0% drop in motor vehicle and parts sales and a 3.0% decline in gasoline station receipts were the major drivers of the weakness, with retail sales excluding autos and gas rising a robust 0.8%, and the retail sales control group, used as an input in forecasting consumer spending in the GDP report, rising at a 0.9% clip. Motor vehicle sales were likely held back artificially last month as a major cyber attack on auto dealer computer systems required sales to be recorded manually, introducing lags in recording that will be made up in July. Gasoline station sales plunged on a 3.8% decline in fuel prices. Together motor vehicle and gasoline station sales subtracted a whopping 0.6 percentage points from overall retail sales last month. Sporting goods sales also slipped 0.1%, but most major sales categories saw steady to moderate growth, despite a 0.1% decline in the CPI index last month, suggesting healthy real retail sales gains continue. Sales gains were even seen in furniture (+0.6%), building materials (+1.4%), and electronics (+0.4%), where durable goods spending should have been held back by high interest rates and declining home sales. Food and beverage sales managed a 0.1% increase even as eating and drinking establishment sales rose 0.3%. Bottom Line: The June retail sales report shows a generally resilient U.S. consumer that took advantage of the drop in gasoline prices to increase spending in other areas. The strong gain in real retail sales outside of motor vehicles and gasoline and the upward revision in May puts upside risk on the consensus forecast for Q2 real consumer spending and GDP growth. Some FOMC hawks will remain leery of the consumers' resilience as they eye the potential for a July rate cut, thereby making September a safer bet as they await further data to gain confidence that inflation is sustainably moving toward the target.

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In March, The Bronx market saw a total dollar volume of $52,092,068 with 16 sales and 16 properties across the borough, which is a decrease from last month's $58.5 Million across 17 sales. Retail and Multifamily saw the most activity with 9 retail properties and 4 multifamily properties sold in March. #monthlyinsights #realestate #cre #multifamilyinvesting #bronx #nyc #realestateagent #bronxmarket #multifamily #property #data #dollar #bronxrealestate #investmentsales

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Headed to Vegas this weekend for ICSC, so let’s talk predictions: 1. I think we are going to see a wide gap in retail leasing and sales volume/velocity. It feels like operator tendencies are towards leasing because of the barrier that interest rates are creating. I tell the team everyday, “it’s good to be in retail leasing right now.” It’s where most of our market activity seems to be right now. 2. I predict (and hope) that tenants are going to be foaming at the mouth for spaces. In a market like Austin, retail vacancy is low because new construction product isn’t currently abundant — starts are down. Our team is showing up with a lot of available product to lease and hope we can capitalize on our market share in Austin. 3. We are coming to the show with some really cool projects in the pipeline. Lots of creative developers out there with great plans for great real estate. I think we will see a lot of this, but the question we will continue to hear a lot of will be “When will dirt ultimately start turning for these projects?” 4. Because of the economic hit on brokerages, I unfortunately predict that we may see less people and companies in attendance. HOPEFULLY I’m totally wrong on this, but if companies are cutting expenses this year, they’re probably cutting the conference. 5. And if I had to put my money on it, I predict the Boston Bruins will take it all the way. For my guy Connor Silva. Will report back.

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