CBRE has added Karly Iacono to its Net Lease Property Group, based in CBRE’s Saddle Brook, NJ office. Joining CBRE as an SVP, Iacono will provide owners with national expertise on net leased sales and acquisitions, sale-leasebacks, and single-tenant development in coordination with the National Net Lease Group, led by Will Pike. Before joining CBRE,… Read more »
CBRE announced today the hiring of commercial real estate pro Karly Iacono, further enhancing the firm’s prominent Net Lease Property Group. Based in CBRE’s Saddle Brook, New Jersey office, Karly will provide owners with national expertise on net leased sales and acquisitions, sale-leasebacks, and single tenant development in coordination with the National Net Lease Group,led by Will… Read more »
A well-known commercial real estate executive, Kalry Iacono, has joined CBRE’s Net Lease Property Group, the firm announced Monday. Iacono, who joins as a senior vice president, will be based out of CBRE’s Saddle Brook office, providing national expertise on net-leased sales and acquisitions, sale-leaseback deals and more. She also will work with the firm’s National… Read more »
We reached out to a variety of industry experts in the retail real estate sector across the country to provide their perspective on what they expect for the retail real estate market heading in 2021. The good news is that despite the doldrums produced by the ongoing pandemic, retail real estate experts are feeling confident… Read more »
Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Walgreens, an 11,212 square foot net-leased property located in Laurel, MD, according to James McGuckin, regional manager of the firm’s New Jersey office. The asset sold for $3,300,000. The buyer,… Read more »
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Aspen Dental, a 3,550-square-foot net-leased property located at 17018 W. Bell Road. According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $2,643,000. “Within the first week… Read more »
Enfield, CT Marcus & Millichap completed the sale of Dunkin’ Donuts at 89 Elm St. The building is a 2,619-s/f net-leased property, according to James McGuckin, regional manager of the firm’s New Jersey office. The asset sold for $1.7 million. Karly Iacono, first vice president investments in Marcus & Millichap’s New Jersey office, had the exclusive… Read more »
Join Karly Iacono and Andrew Bermudez as they discuss how COVID-19 has shifted buyer demand, how to qualify a stable investment, and how the industry is changing.
In this year’s 2020 edition of Women of Influence, we have based our selection of nearly 200 candidates on such criteria as career achievements, community outreach and mentorship within the industry. And as we experienced in previous years, we found it hard, to say nothing of humbling, to sift through the applications and select just… Read more »
GlobeSt Real Estate Forum Presents Women of Influence 2020: Karly Iacono is named as GlobeSt’s 2020 Woman of Influence. As the First Vice President of Investments at Marcus and Millichap, Karly Iacono is among the firm’s top producers. For several years, she has been ranked in the top 2% of brokers… Read more »
Join Brian Banilivy, of Mason Asset Management and Karly Iacono, First Vice President Investments at Marcus and Millichap as they discuss the short and long term effects of the COVID-19 pandemic and what landlords and brokers can do to navigate these times.
JOLIET, ILL. — Marcus & Millichap has brokered the sale of a 5,077-square-foot retail property net leased to Panera Bread in Joliet for $4.3 million. The building is located at 2400 W. Jefferson St. Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the property on behalf of the seller, a developer. Karly Iacono… Read more »
Marcus & Millichap brokered the sale of a 5,077-square-foot Panera Bread retail property located in Joliet, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $4,325,000. Austin Weisenbeck and Sean R. Sharko, senior vice presidents and investment specialists in Marcus &… Read more »
In this episode of Net Lease TV Christian Marabella moderates a panel including Alan Fruitman of 1031 Tax, Jesse Limon of Marcus & Millichap, Keith Sturm of Upland Real Estate, Matt Berres of Newmark Night Frank, Mike Lin of Progressive Real Estate and Karly Iacono of Marcus & Millichap. Chris and the panel discuss the… Read more »
New guidelines from the Internal Revenue Service extend the timeline for several time sensitive tax programs, including 1031 exchanges and opportunity zone investments, giving investors more time to close deals as they deal with the fallout from the COVID-19 pandemic and economic shutdown. For 1031 exchanges, also called like-kind exchanges, deadlines that fall between April 1 and July 15 have… Read more »
On a late March morning, a moped rider in a surgical mask rode sixty blocks up Manhattan’s deserted streets to the Upper East Side. There, the rider met his lawyer in the lobby of a residential building. The lawyer placed a sheaf of documents on a table and backed away, then watched his client approach… Read more »
The stay-at-home economy drives sales of home office and entertainment products Suddenly sequestered in their homes, millions of New Jerseyans are realizing a few things: their home office chair is uncomfortable. Their web cameras aren’t up to snuff for Zoom meetings. Their computers aren’t fast enough. Oh, and their kids are bored. While retailers that… Read more »
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 9: Today we are discussing the current lending climate and the potential big picture effects of the COVID-19 shutdown. No fluff – no hype, just insight into some of the changes we are already seeing in the market and things to consider moving forward…. Read more »
Two of the nation’s most well-known retailers are going on a massive hiring spree to meet an increase in demand for essential products, due to worries over the coronavirus pandemic. Walmart, the largest private employer in the United States, has announced it will hire 150,000 workers (2,400 associates in New Jersey) from now until the end… Read more »
Convenience store chain 7-Eleven announced Friday it was adding up to 20,000 jobs at its stores to keep up with increased demand and keep the stores clean in response to the coronavirus outbreak. President and Chief Executive Officer Joe DePinto said, “7-Eleven is a neighborhood store and it’s our priority to serve the communities in… Read more »
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 8: Will small format grocers like Amazon GO and Aldi gain market share or will traditional stores like Kroger and Safeway continue to lead the pack?
Target Corp. on Tuesday detailed several new initiatives for 2020, including robust expansion of its smaller-sized format, the scaling of a robotics solution and the addition of alcoholic beverages and fresh groceries to its pickup services. The retailer revealed its plans at an investors meeting following the release of its fourth-quarter earnings. Target’s net income… Read more »
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 7: Domino’s stock jumped 25% in response to their Q4 earnings report. Today we unpack what they are doing right.
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 5: How to Evaluate a Net Lease Property
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 5: Ghost Kitchens
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 4: Why Physical Space will Continue to Be Relevant in Retail
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 3: Lease Provisions that Impact Resale Value of Investment Properties
The retailer plans to build 40 such flatbed distribution centers, catering to its Pro customers. In its latest move to cater to professional customers that comprise almost half its sales, The Home Depot announced Tuesday that is has opened its first drive-through distribution center. Called a flatbed distribution center, or FDC, the company’s first such… Read more »
Amazon already has conquered the online shopping world, and soon it will have a brick-and-mortar presence in New Jersey. The e-commerce giant is opening Amazon 4-Star stores at the Willowbrook Mall in Wayne and at the American Dream Mall in East Rutherford. Opening dates have not yet been announced, but Amazon’s website says the shops are… Read more »
7-Eleven has passed a major milestone as it readies to enter a new global market. The convenience store giant has topped the 70,000th store mark, with locations in 17 countries and regions around the world, including 11,800 in North America. 7-Eleven will enter a new market this year when it opens its first store in… Read more »
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 2: 1031 Exchanges Explained
Ikea’s $5.8 billion initiative to open smaller format “city centre” stores to get closer to shoppers in dense urban areas is landing in London. Ingka Centres, Ikea’s retail real estate arm, has purchased Kings Mall Shopping Centre in the Hammersmith neighborhood of West London for $220 million and will install its new concept there along… Read more »
CRE Fast Five: Hot Topics Detailed in Five Minutes or Less Episode 1: Two Key Factors Driving the Evolution of Retail
The nation’s largest grocer is not taking a back seat in the race to streamline in-store fulfillment of online grocery orders. Walmart has been piloting a new technology called Alphabot that is designed to enable quicker, more efficient picking of online grocery orders at the store level. The retail giant has been testing the technology… Read more »
More Deals in Negotiation Could Put New Jersey Complex at Nearly Full Occupancy American Dream, the $5 billion entertainment-shopping complex with a retail component that isn’t scheduled to open until March, has already lined up tenants for 89% of its space. That puts it on the verge of passing an important retail test. In a leasing-status… Read more »
A new decade awaits us in 2020, and with it the inevitable, constant evolution of the retail industry market. As one of the most competitive markets in the world, change and adaptation are truly the only constants. The rise in use of technology coupled with metadata metrics for analyzing consumer habits have inspired retailers to… Read more »
In this episode of Net Lease TV, Chris Marabella interviews Karly Iacono about zero cashflow deals, recent closings, team structure, and market trends. Click below to watch the full interview.
Dollar General Corp. on Thursday reported its best quarterly same-store sales rise in nearly five years along with increases on both its top and bottom lines. The discount giant also announced that it plans to open 1,000 stores in 2020, up from 975 in 2019. It also will undertake 1,500 mature store remodels and 80… Read more »
Cyber Monday is on its way to keeping its title as the biggest online shopping day of the year. Cyber Monday online sales are on track to hit $9.4 billion, up 18.9% over last year, according to preliminary data from Adobe Analytics, which tracks transactions at 80 of the top 100 U.S. online stores. In… Read more »
Despite the fact that real estate deals with restaurants are complex, risky, and require expensive buildouts, the revenue and traffic they churn is so remarkable that landlords continue to seek out more of them for their centers, according to CBRE’s research department. In the latest installment of its U.S. Food in Demand series of reports, the… Read more »
Nike will stop selling merchandise directly to Amazon, as part of its push to sell more directly to consumers, the company confirmed to CNBC. The abrupt halt will end a pilot test that Nike and Amazon launched together in 2017, At the time, Nike agreed to sell a limited product assortment to Amazon, in exchange… Read more »
Starbucks is opening a pickup-only coffee shop in New York City’s Penn Plaza, marking the first U.S. location based on a similar concept the coffee chain has pioneered in China. The site, which will open on Tuesday, is indeed small enough to imply a “to go” atmosphere, with just 300-square-feet of space for customers to… Read more »
Starbucks Corp. drove to a strong finish in its fourth quarter, fueled by sales gains in its two most important markets. The coffee giant reported net income of $802.9 million, or 67 cents a share, for the quarter ended Sept. 29, compared with $755.8 million, or 56 cents a share, in the year-ago period. Adjusted earnings… Read more »
Washington (CNN Business)The Federal Reserve cut interest rates for the third time this year as the US economy continued slowing amid ongoing trade disputes and weak global growth. The federal funds rate, which affects the cost of mortgages, credit cards and other borrowing, will now hover between 1.5% and 1.75%. Federal Reserve Chairman Jerome Powell… Read more »
Walgreens is officially in flight with a pilot of on-demand drone deliveries in Virginia. As of Oct. 18, 2019, the drugstore giant is live with a trial of “store to door” delivery of health and wellness, food and beverage and convenience items via drone delivery in Christianburg, Va. (Prescription deliveries are not available in the… Read more »
Customers making digital purchases from the revamped Toys “R” Us will receive their products courtesy of Target. Through a partnership with Tru Kids Brands, the new parent company of Toys “R” Us, Target’s toy assortment, digital capabilities and fulfillment services will support new omnichannel Toys “R” Us shopping experiences in the U.S. Consumers browsing and… Read more »
What are urgent care clinics? Urgent care centers are convenient, on-demand care outlets similar to walk-in retail clinics, but rather than treating low-acuity conditions such as bronchitis and minor infections, urgent care clinics are equipped to treat more serious ailments, including fractures, sprains, and wounds. They also offer services like blood tests, stitching, and X-rays…. Read more »
Wawa will be expanding across Northern Virginia in a big way. The privately owned convenience store chain plans to open 40 locations in Northern Virginia during the next 15 years. The first, in the town of Vienna, is set to open in April 2020. It will be approximately 6,290 sq. ft. with seating areas. It… Read more »
NEW YORK (AP) — Walmart’s Sam’s Club is teaming up with several health care companies to offer discounts on routine care that customers might delay or skip because of the cost. Starting next month, Sam’s Club members in Michigan, Pennsylvania and North Carolina will be able to buy bundles of health care services that include… Read more »
A freestanding Dick’s Sporting Goods store next to one of the largest malls on the East Coast has sold close to its original asking price. Ace 1 Southpark LLC purchased the net-leased retail property, located in Charlotte, North Carolina’s SouthPark, from another private entity, Dowel Charlotte LLC, for $16.83 million, or about $200 per square… Read more »
Marcus & Millichap has arranged the $16.8 million sale of a net-leased retail property occupied by Dick’s Sporting Goods in Charlotte. Located at 4323 Barclay Downs Dr., the property is an out-parcel at Charlotte’s South Park Mall, which features a tenant roster that includes Apple, Coach, Pottery Barn and Lululemon. It is the 10th largest… Read more »
By Joshua Burd A private investor has sold an 84,000-square-foot retail property in North Carolina, under a newly completed deal by Marcus & Millichap’s New Jersey office. The firm announced last week that it represented the seller of the net-leased property, a Dick’s Sporting Goods store at 4323 Barclay Downs Drive in Charlotte. A syndicator… Read more »
WASHINGTON — The Federal Reserve lowered interest rates by a quarter of a percentage point on Wednesday, its second cut since late July, and suggested it was prepared to move aggressively if the United States economy showed additional signs of weakening. For now, a growing number of Fed officials expect one more cut this year,… Read more »
Walmart has moved deeper into health care with the opening of its first-ever standalone facility devoted to health and wellness. Located in Dallas, Georgia, directly adjacent to a remodeled Walmart supercenter, the new “Walmart Health” held its grand opening on Friday, Sept. 13. The 10,000-sq.-ft. facility offers an array of services — primary care, laboratory… Read more »
Marcus & Millichap has been retained to sell Greenleaf at Howell, a newly constructed, open-air community shopping center in Howell Township, New Jersey. The price is $78.5 million. “Currently 100 percent occupied, Greenleaf at Howell is an exceptional, core-plus asset with the opportunity to add value through the development of an additional 117,505 square feet… Read more »
Marcus & Millichap is marketing Greenleaf at Howell, a newly-constructed, open-air community center in the shore neighborhood of Howell Township, NJ. The asking price is $78.5 million. “Currently 100% occupied, Greenleaf at Howell is an exceptional, core-plus asset with the opportunity to add value through the development of an additional 117,505 square feet of entitled commercial space,” said Karly Iacono,… Read more »
Marcus & Millichap announced Thursday the exclusive listing for sale of Greenleaf at Howell, a newly constructed, open-air community center in Howell Township for $78.5 million. “Currently 100 percent occupied, Greenleaf at Howell is an exceptional, core-plus asset with the opportunity to add value through the development of an additional 117,505 square feet of entitled… Read more »
Blaze Pizza increased visits by 30% last year in part by shunning ingredients like artificial colors, preservatives, and additives. Most patrons of Duck Donuts say they favor the Southern chain for its customizable menu. These and other rapidly expanding quick-service restaurant chains including Kung Fu Tea and Mod Pizza are riding a millennial-fueled trend that… Read more »
Changing consumer habits have emptied malls, sent department stores into bankruptcy and transformed grocery stores. Now it’s the drugstore’s turn. On Tuesday, Walgreens disclosed it will close 200 U.S. stores. On Wednesday, CVS Health said it will slow the pace at which it opens new locations. For pharmacies, which also facepressures related to reimbursements for… Read more »
Simon Property Group CEO Tells Analysts It Has the Cash to Help Troubled Chains Stay in Business Simon Property Group, one of the nation’s largest owners of retail property ranging from shopping centers to outlets and malls, said it’s ready to come to the rescue of more distressed retail tenants to maintain its properties. So… Read more »
Online Retailer Leads Change That Kills Malls, Buys the Corpses for Last-Mile Delivery. Online retailer Amazon has spent the past two decades luring shoppers out of stores and onto the internet, leading a retail transformation that has left dead malls in its wake. Now the Seattle-based company is buying more of those empty shopping centers,… Read more »
Amazon wasn’t the only retailer that saw big gains on Prime Day. Large retailers (defined as those with $1 billion-plus in annual revenue) experienced a 72% increase in online sales the second day of Prime Day compared to an average Tuesday and a 64% increase on the first day, according to Adobe Insights. The retailers… Read more »
Consumer spending accelerated in June as retail sales rose in nearly all sectors. Retail sales were up 0.6% in June seasonally adjusted from May and up 2.3% year-over-year, according to the National Retail Federation. The numbers exclude automobile dealers, gasoline stations and restaurants. NRF’s numbers are based on data from the U.S. Census Bureau, which… Read more »
Franchise Pumps $100 Million Into Remodeling Locations Subway has been taking it on the chin in the fight to capture consumers with a hankering for a sandwich. Jersey Mike’s Subs, Jimmy John’s Gourmet Sandwiches, Firehouse Subs and a host of others have knocked the onetime king of franchises far off its perch. To regain its… Read more »
Amazon is launching its own version of buy-online-pickup-in stores. The online giant is partnering with Rite Aid to launch “Counter,” dedicated counters in Rite Aid stores where Amazon customers can pick up their purchases. The service, which is free to all Amazon customers,… Read more »
Craving a Slurpee but lacking the motivation to get off a park bench? No worries. 7-Eleven launched a delivery service Monday that will send a Slurpee or almost anything else carried by the chain to public places ranging from parks to beaches. The company told The Associated Press that more than 2,000 7-Eleven “hot spots”… Read more »
Growing Distribution Webs Boost Retailers’ Competitive Advantages Consumption underpinned by elevated consumer optimism. Retail sales remained steady in May, increasing 3.2 percent over the past year. Though this is slightly lower than the previous two months, spending appears to have further stabilized following heightened levels of consumption… Read more »
Retailers that have made omni-channel experiences a priority are being rewarded. Stock prices are up. Walmart’s stock has increased 16% this year and Lululemon stock is up more than 42% since January. The integration of Apps, faster shipping, and curbside pickup are boosting e-commerce sales while thoughtful expansion into targeted bricks and mortar locations is… Read more »
The hedge fund is acquiring the bookstore for $476 million plus assuming its debt. NEW YORK CITY—Elliott Advisors (UK) is acquiring Barnes & Noble, paying $476 million in an all-cash transaction. The sale is valued at $683 million as it includes the assumption of the company’s debt. On Friday, the deal valued Barnes & Noble’s… Read more »
The Michaels Companies Inc. met its own guidance and analyst projections with its first-quarter sales and EPS results, and has store expansion plans. During the first quarter of fiscal 2019, Michaels reported net sales of $1.09 billion, down 5% from $1.15 billion in the first quarter of fiscal 2018 and within the company’s previously released… Read more »
CVS Health is going full steam ahead with its new, health-focused store concept. CVS debuted the format, called HealthHub, in February, at three revamped CVS Pharmacy locations in Houston. On Tuesday, the company said it will open additional HealthHubs in Houston, Atlanta, Philadelphia/Southern New Jersey and Tampa this year. Long-term, it plans to have a… Read more »
Shares of discount retail chain Dollar General jump after the company reports quarterly earnings that surpass analysts’ expectations. Dollar General gained in early trading Thursday after the discount retail chain reported quarterly earnings that surpassed analysts’ expectations. The Goodlettsville, Tenn.-based company posted net income of $385 million, or $1.48 a share, in its fiscal first quarter ended May 3, compared with… Read more »
MAHWAH, NJ—Women’s fashion retailer Dressbarn has announced it will be closing all of its approximately 650 store locations nationwide. Dressbarn is part of the Mahwah, NJ-based Ascena Retail Group, Inc., a leading national specialty retailer that also owns Ann Taylor, LOFT, Lou & Grey, Lane Bryant, Catherines, Cacique and Justice brands. Ascena operates approximately 3,500… Read more »
Growth in CRE prices was modest in March, with some market observers expecting a pick-up in sales volumes. Annual growth in U.S. property prices slowed in March to the most modest rate since 2011, according to research firm Real Capital Analytics (RCA). But industry experts say commercial real estate pricing—and transaction volumes—could gain steam, or… Read more »
Retail Powerhouses Maintain Dominance Despite Tempered Consumption Retail spending slows amid economic concerns. A moderating economy became more evident in February as core retail sales advanced 2.9 percent annually, following a revised gain of 4.3 percent one month earlier. Unresolved trade tensions as well as a weakening international economy continue to weigh on domestic growth,… Read more »
As department stores like Sears and specialty retailers like Toys ‘R’ Us wind down operations, U.S. grocers are adding outlets and space while some chains launch new concepts. Grocery store openings paced by Publix and Aldi jumped 29.4% last year, adding more than 17 million square feet of space in stores across the country, according… Read more »
Will it really work? That’s the question some people are asking as the Hudson Yards development comes to life in New York this week. The retail and restaurant portion of the 18-million-square-foot project opens on Friday, including shops ranging from Louis Vuitton and Neiman Marcus to Lululemon and H&M. Online brands like men’s activewear retailer Rhone… Read more »
SEATTLE—The Wall Street Journal has reported that Amazon plans to launch dozens of grocery stores in several major US cities, citing sources familiar with the strategy. The first store will open in Los Angeles, possibly by the end of this year, according to the WSJ. The company has also signed leases for two other locations with plans… Read more »
ST. LOUIS, MI—Payless ShoeSource filed for voluntary Chapter 11 bankruptcy protection on Monday and stated that it plans to close all of its North American stores in the US and Canada by the end of May. The company also reported it intends to file for protection for some of its Canadian subsidiaries under the Companies’… Read more »
Despite efforts from New York Gov. Andrew Cuomo, New York City Mayor Bill de Blasio and others, Amazon has decided to not move forward with previously announced plans to build a portion of its second corporate headquarters in Long Island City, Queens. The e-commerce giant in a statement released today, while praising Cuomo and de… Read more »
U.S. retail sales are expected to rise between 3.8 percent and 4.4 percent to more than $3.8 trillion in 2019, the National Retail Federation (NRF) said on Tuesday, citing high consumer confidence, low unemployment and rising wages. Preliminary estimates show retail sales grew 4.6 percent in 2018 to $3.68 trillion, exceeding the retail industry group’s… Read more »
The tech-infused, convenience-oriented future of U.S. retail is only half the story — the upper-income half. As U.S. income and net worth inequality widens, retailers who sell to lower-income Americans, particularly dollar stores, are also going to continue to flourish. For upscale demographics, there are retail initiatives such as Amazon Go and its cashierless shopping, tech-oriented… Read more »
Rite Aid is at risk of being delisted from the New York Stock Exchange and considering a reverse stock split to prop its share price above $1 to comply with the exchange’s trading rules, the company said Friday. Shares of the drugstore chain have fallen 64 percent over the past year, down to 75… Read more »
Your team has seen truly noteworthy growth in transaction volume and market share over the last year. Thank you for taking the time to speak with us and about your thoughts on the market and what has led to your success.
The Home Depot racked up another quarter of solid sales and earnings gains fueled by continued strong demand in the home improvement market. The world’s largest home improvement retailer reported sales of $26.3 billion for the quarter ended Oct. 28, up 5.1% from the year-ago period. Net earnings for the third quarter of fiscal 2018 were… Read more »
Adaptive changes necessary in today’s retail climate Like several other high-profile retailers in recent years, Sears Holding Corp. failed to evolve with the changing retail landscape and took on an unsustainable level of debt. Consequently, it filed for Chapter 11 bankruptcy, announcing the closure of 142 locations in the process. The company’s minimal reinvestment into… Read more »
Tight job market a key driver of consumption With unemployment at its lowest level in nearly 50 years, a larger employment base has helped increase the amount of money circulating through the economy. This has kept consumer spending elevated as core retail sales posted a 5.0 percent year-over-year gain in September. Though this figure is… Read more »
New York City multifamily rents continue to soften. In June, the median asking rent for a one-bedroom apartment dropped 3.1% compared to last year, and fell 15.1% from its peak in March 2016, Business Insider reported. Investment sales have also slowed across multiple asset classes, down 50% from the peak of the market in 2015. The slowdown has… Read more »
A private investor based in central New Jersey has acquired a nearly 5,000-square-foot retail property in the Florida Panhandle, in a $2.825 million sale brokered by Marcus & Millichap. Brokers with the firm’s Saddle Brook office announced the sale of the property, 4830 Highway 90 in Pace, Florida, after marketing it on behalf of the… Read more »
The annual 40 under 40 feature in the Mid Atlantic Real Estate Journal Honors Karly Iacono for her exceptional contributions to the industry. Click below to read the full feature.
RAPID CITY, S.D. — Marcus & Milichap has brokered the sale of Northgate Plaza in Rapid City for $4.3 million. The 173,678-square-foot retail center is located at 1111 E. North St. Kmart and Family Dollar anchor the property, which is 74 percent occupied. Karly Iacono of Marcus & Millichap represented the seller, a private investor,… Read more »
U.S. retail sales rose solidly in June as households boosted purchases of automobiles and a range of other goods, cementing expectations for robust economic growth in the second quarter. Signs of a strengthening economy, together with a tightening labor market and firming inflation, likely will keep the Federal Reserve on track to continue raising interest… Read more »
Home Depot is getting pretty. Just months after buying high-end linen e-tailer The Company Store, The Home Depot is making its big push into the home decor category. In an email sent out to customers on Monday and reinforced on its website, Home Depot is making it perfectly clear that it intends to be a… Read more »
Amazon.com Inc. is buying its way into the heart of the U.S. health-care system, instantly shaking up a prescription-drug industry already in the midst of a broader transformation. Insurance companies and drug-benefit managers have struck a series of deals in recent months designed in part to thwart a potential big splash in the health world from… Read more »
Howell, N.J.— Marcus & Millichap has arranged the $3.1 million sale of a net-leased Texas Roadhouse restaurant located at 5309 US Highway 9 in Howell. Karly Iacono of Marcus & Millichap’s National Retail Group represented the seller, an undisclosed developer, in the transaction. Marcus & Millichap also represented the buyer, a private client executing a 1031… Read more »
Stout retail sales growth a product of strong economic metrics. The confluence of several factors contributed to another month of steady spending. Core retail sales increased 4 percent year over year in April, the third straight month of at least 4 percent annual growth. Near record-high levels of consumer confidence have aided retail sales in… Read more »
The evolution of retail continues and New Jersey is no exception. New Jersey Realtor Magazine interviews Karly Iacono, Associate Director of Marcus & Millichap’s National Retail Group, to get a detailed look on what we can expect moving forward in regards to retail development, rents, and property resale values.
NY/NJ Clients & Friends: Please join us June 13th for cocktails at the Upper Montclair Country Club as we discuss the risk and opportunity in today’s retail and multi-family markets. Estate planning and 1031 exchange experts will be on hand to answer questions. Space is limited. Please click below to RSVP. Click Here To RSVP
Rising take-home pay fosters retail momentum. Increased discretionary income stemming from tax cuts and a tight labor market are starting to materialize. Inflation-adjusted core retail sales recorded a 2.5 percent year-over-year increase for the fourth straight month, following an average of 2 percent expansion the previous 18 months. E-commerce sales continue to propel retail activity,… Read more »