Friday, February 4, 2011

J.C. Penney launches new big-and-tall chain, wants 150 stores by 2013

J.C. Penney ‘s Growth Brands Division announced plans to launch a new retail concept catering to the men’s big & tall customer. To be called The Foundry Big & Tall Supply Co., the chain will carry branded apparel and accessories as well as its own line of upscale merchandise.
The Foundry Big & Tall Supply Co. plans to ... Click here to read more

Compiled by the staff of Shopping Centers Today. 

Multifamily Investors Forecast to Return to Small Markets


Posted February 4th 2011

Fueled by competition among institutional investors, pricing for core multifamily assets surpassed property fundamentals in 2010, according to the Marcus & Millichap 2011 National Apartment Report. Strong demand, rising rents, and improving occupancies are expected to continue to support pricing this year, which may spur more sales of class B properties and greater activity among private and opportunistic investors in search of stronger yields in secondary and tertiary markets. The effects of yield compression and a limited inventory of top-tier assets will become clearer as the year progresses, the report notes.
Secondary and tertiary market capitalization rates were 100 basis points and 200 basis points higher, respectively, than primary market cap rates in 4Q10. Unfinished multifamily projects also are expected to receive attention from investors this year thanks to a lack of new construction and a positive demand-side outlook.
Overall, the outlook for multifamily investment this year is strong. Though still well short of peak levels, transaction volume is expected to build on last year’s momentum, which culminated in approximately $40 billion in sales, a 65 percent increase from the market low in 2009. Approximately 80 percent of these transactions were valued at $10 million or less, indicating healthy activity among private buyers, but real estate investment trusts and institutional investors will increase their share of transactions this year.