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Unexpected Jump in Prices May Push Rate Cut Timeline
Unexpected Jump in Prices May Push Rate Cut Timeline Mounting costs for gasoline and electricity kept overall inflation elevated over the 12-month period ending in March. The headline CPI measure grew by 3.5 percent during the [...]
Consumer budget tightening stands to benefit a range of retail assets
While the 2.2 percent year-over-year gain in total core retail sales reported in February failed to match the 3.8 percent rise in core CPI, three key categories bucked this trend. Rising sales amid moderating or falling [...]
Fed maintains caution; real estate investment gradually gaining momentum
Still-elevated inflation is leading Wall Street participants to delay expectations for the Federal Reserve to start cutting interest rates this year — shifting from spring to summer. Alongside strong hiring in the opening months of 2024, [...]
Resilient job growth with uptick in unemployment could be the perfect mix
Employment growth accelerated in February with 275,000 jobs created, yet the unemployment rate also rose by 20 basis points to 3.9 percent. While the highest rate of unemployment in 25 months may be interpreted as a [...]
How does necessity-driven spending underscore tight vacancy for retail subsectors?
In January, for the first time since March of last year, core retail sales fell on a monthly basis, a reflection of more consumers avoiding big-ticket, discretionary purchases. The 0.5 percent decline in core spending, however, [...]
While challenging for the Fed, strong demand for services is a positive sign for CRE
Inflation metrics present mixed bag. The headline Consumer Price Index rose 3.1 percent over the year ended January, down 30 basis points from the December reading. Falling energy prices and flattening costs for food helped slow [...]
Inflation Still Bumpy, But Trends Support CRE Outlook
Markets predict Fed cut in March, even with bump in CPI. Headline inflation ticked up to 3.4 percent over the year ended December 2023, as both energy and shelter costs accelerated during the month. While this [...]
Unemployment Creeps Higher: Is The Labor Market Shifting Gears?
Unemployment inches up in October amid modest job creation. The tight labor market loosened slightly in October as 150,000 positions were created, the second-slowest month for hiring since the end of 2020. Additions were greatest in [...]
Commercial Real Estate Distress May Be Overblown – Property Prices Adjusting to Higher Rates
CNBC recently featured Marcus & Millichap CEO Hessam Nadji to discuss the current state of the commercial real estate market. Highlights of the conversation include: - Why perceptions of CRE distress on banks don’t line up [...]
Tractor Supply’s Big Expansion, Bed Bath & Beyond’s Reboot, McDonald’s Cosmic Spinoff
Tractor Supply to expand its footprint, aiming for 3K nationwide Tractor Supply Company has revealed its plans to expand its store presence, but it has also adjusted its financial outlook for the year. In the second [...]
Chipotle Signs First-Ever Franchise Agreement
Chipotle signs first-ever franchise agreement — for expansion in Middle East Chipotle Mexican Grill, known for its direct ownership and operation of all its restaurants, has taken a significant step by entering into its first-ever development [...]
Core Inflation Cools in June; Will the Fed Still Raise Rates in July?
Inflation continuing to trend down. The headline consumer price index climbed by 3.0 percent year-over-year in June, the smallest increase since March 2021. A 16.7 percent decline in energy costs helped slow the overall inflation rate [...]
Prime Day Helped Push U.S. E-Commerce More than 6% to $12.7B
Prime Day helped push U.S. e-commerce more than 6% to $12.7B Amazon on Thursday said that July 11, the first day of its Prime Day sale, was the single largest sales day in its history. The [...]
Scarcity of Well-Located Industrial Outdoor Storage Properties Driving Investment Appeal
Residential and e-commerce growth spur need for outdoor storage. The formation of nearly 3.2 million households over the 24-month span ending in March — the most of any two-year period since 2002 — coinciding with an [...]
Research Brief: Update on Student Loan Forgiveness – July 2023
Supreme Court blocks Biden-Harris student debt forgiveness plan. Early in the health crisis, the CARES Act froze repayment and interest accumulation on federal student loans. In 2022, the Biden Administration introduced a forgiveness plan for qualifying [...]
Research Brief: Employment – July 2023
Employment growth strong, but down from recent periods. Monthly hiring dropped below the 300,000 mark for the fourth time this year with the creation of 209,000 jobs in June. While the softest period for employment growth [...]
RaceTrac Making Largest Acquisition in its History
RaceTrac making largest acquisition in its history: Gulf Oil LLC RaceTrac, a family-owned convenience store retailer, announced that its subsidiary, Metroplex Energy, has reached a definitive agreement with Gulf Oil L.P. to acquire Gulf Oil LLC. [...]
National Report: Retail – 2Q/23
Consumers’ priorities reinforce positive outlook. One of the nation’s least-vacant commercial real estate segments, the retail sector entered the second half in a favorable position. Labor market resiliency, wage growth and easing inflationary pressures are aiding [...]
Research Brief: Housing – June 2023
Sellers retain leverage amid deficient supply. Homebuyers have yet to see the market turn in their favor as of mid-2023, despite predictions offered earlier by some prognosticators. Many anticipated that higher interest rates would stymie purchases [...]
Capital Markets Special Report: June 2023
The 10-Year Treasury sits in the upper-3 percent range, with one-month Term SOFR in the low-5 percent zone. The cheapest interest rates for new origination are almost 6 percent, with max leverage agency debt constantly pricing [...]
Retail Sales Research Brief: June 2023
Consecutive months of broad growth encouraging. Households increased their spending across a broad spectrum of stores in May, supporting a 0.4 percent rise in core retail sales. For the second straight month, eight categories registered sales [...]
Walgreens to close a total of 150 stores in the U.S. and 300 stores in the U.K.
Walgreens to close 150 stores in the U.S. In a recent announcement, Walgreens revealed its plans to close a total of 150 stores in the U.S. and 300 stores in the U.K., as stated by Walgreens [...]
Inflation Research Brief: June 2023
Inflation slows to 27-month low. The headline consumer price index rose by 4.0 percent year-over-year in May, less than half the 9.1 percent pace recorded last June. While consumer prices are still rising more rapidly than [...]
Financial Services Research Brief: June 2023
Terminations of bank mergers have reached a record high this year and it could well be next year before M&A activity in the sector can restart, according to one analyst. “It won’t be a 2023 event,” [...]
DOJ Signals Closer Scrutiny of Bank Mergers, Dollar General Expands to 48th State
DOJ to expand scrutiny of bank mergers A top antitrust official put banks on notice Tuesday that the Justice Department is expanding its scrutiny of mergers, looking at a broader scope of criteria and further empowering [...]
Retail Sales Increase in May, Bank of America Plans to Enter 7 New Markets
Retail sales increase again in May as consumers continue to fuel economy Retail sales in May increased 0.4% from April and were up 4.4% year over year, according to the National Retail Federation, whose calculation excludes [...]
H-E-B’s Joe V’s Smart Shop Concept Comes to Dallas
H-E-B expanding lower-priced Joe V’s Smart Shop concept Joe V’s Smart Shop is headed to Dallas. In the first expansion of the value retail concept outside of Houston, H-E-B plans to open two Joe V’s Smart [...]
TD Plans to Open 150 U.S. Branches by 2027, IHOP Shutters Failed Spinoff
TD plans to open 150 U.S. branches by 2027, focus on Southeast The bank is targeting South Florida, Atlanta and North Carolina — areas where it would have grown through the scuttled First Horizon deal. IHOP [...]
Debt Ceiling Research Brief: June 2023
Bipartisan agreement avoids potential catastrophe. President Biden and House Speaker McCarthy reached a tentative agreement on May 27 to suspend the debt limit until January 2025. This bill, known as the Fiscal Responsibility Act of 2023, [...]
Lowe’s Introduces New Shop Concept, Cava Files for IPO
Lowe’s looks to broaden rural appeal with new in-store shop concept The home improvement retailer said it is launching a one-stop-shop concept designed to bring customers living in rural areas a wider offering of farm, ranch [...]
U.S. Single-Tenant Net-Leased Retail National Report
Spending priorities favor single-tenant. The outlook for dining and necessity retail remains positive as summer approaches, despite a flat trend in overall consumer spending. Continued inflation, labor market concerns and high interest rates are influencing households [...]
Retail Sales Research Brief: March 2023
Consumption tailwinds back demand for available space. Labor market resiliency, wage growth and easing inflationary pressures aided consumers’ spending power in April, supporting a 0.6 percent increase in core retail sales. Households concentrated their spending on [...]
Bed Bath & Beyond Closures Ignite Land Grab, TGI Fridays Seeks New CEO
Bed Bath & Beyond store closures will kick off a land grab for fast-growing retailers Former Bed Bath stores could turn into a variety of other retail spaces, said Deborah Weinswig, CEO of Coresight Research, a [...]
Inflation Research Brief: May 2023
Inflation descending at a more subdued pace. Annual growth in the headline consumer price index (CPI) slowed to 4.9 percent in April, marking the 10th month in a row that this metric has decelerated since the [...]
Vitamin Shoppe Going Private, Panda Express Introduces New Store Model
Vitamin Shoppe parent going private in $2.6B deal Franchise Group, which owns several brands including The Vitamin Shoppe and Pet Supplies Plus, has announced that it will become a privately held company through a deal worth [...]
Ruth’s Chris Acquired for $715 Million, Aldi Reveals Major 2023 Expansion
Olive Garden owner Darden Restaurants buys Ruth’s Chris Steak House for $715 million Darden Restaurants has announced its acquisition of Ruth's Hospitality Group, the parent company of Ruth's Chris Steak House, for $715 million. With over [...]
Bed Bath & Beyond Files for Bankruptcy, QuikTrip and Wawa Reach Network Milestones
Bed Bath & Beyond files for bankruptcy protection after failed turnaround efforts Since early January, the struggling home goods retailer has been warning about the possibility of bankruptcy. After a disappointing holiday season, the company issued [...]
Ikea Plans U.S. Expansion, Wells Fargo Launches Campus Project, H-E-B’s New C-Stores
Ikea to invest over $2.2 billion in new U.S. store models, pickup locations in next three years Ikea, the Swedish home and furniture company, is planning to invest over $2.2 billion in the next three years [...]
Sustainable Chipotle, Walmart’s Bonobos Sale, and Whole Foods Expansion
Chipotle unveils all-electric, sustainable restaurant design The quick-serve restaurant giant debuted an all-electric restaurant design to help reach its goal of reducing greenhouse gas emissions in half by 2030. The design works to maximize energy efficiency [...]
Walmart’s EV Network Grows, Chick-fil-A Nears Milestone
Walmart will add thousands of EV charging stations to stores by 2030 The company will expand its fast-charging network to include Walmart and Sam's Club locations nationwide, adding to the 1,300 charging stations already available at [...]
Dollar General Tops 2022’s Expander List; Roark Capital Eyes Subway Purchase; Macy’s CEO to Retire in 2023
2022’s Top 10 Expanders: Dollar General No. 1 In 2022, Dollar General, At Home, and The TJX Companies secured leases for over 1.3 million square feet of new space, securing their positions as the top three [...]
Retail Sales Research Brief: March 2023
Consumers place an emphasis on necessities. Total retail sales dropped 0.4 percent in February. However, store-based spending — which excludes purchases made online and at restaurants and bars — reached a record mark. This contrast indicates [...]
Starbucks CEO Works the Counter, Kroger Expands in DFW, Panera Tries Palm Recognition
Starbucks CEO says he’ll work a shift at the company’s cafes once a month This pledge comes during a tumultuous time for Starbucks' relationship with its baristas, as more than 190 company-owned locations have voted to [...]
Walmart Expands Health Center Presence, First Horizon Raises Concerns over TD Deal
Walmart to nearly double health center footprint The company has announced its plans to open 28 new Walmart Health centers in 2024, taking the total number of locations to over 75 by the end of the [...]
Retail Sales Research Brief: February 2023
All brick-and-mortar categories record monthly increases. Store-based retail sales, which exclude spending online and at restaurants and bars, climbed 1.7 percent in January, marking the largest monthly rise in nearly two years. Reversing a recent down [...]
Target’s $100M E-Commerce Investment, H-E-B Expands to Celina, Aldi’s New Partnership
Target bets on e-commerce by investing $100 million in hubs to speed up delivery The big box retailer is pressing ahead with its e-commerce strategy, even as it anticipates slower sales. February 22, 2023 | CNBC [...]
Latest Retail News and Earnings Reports (Feb. 10-17)
Tuesday Morning to close more than half its stores nationwide That’s what the off-price retailer, which filed for Chapter 11 on Feb. 14, said in court documents. Tuesday Morning is seeking court approval to conduct store [...]
Latest Retail News and Earnings Reports (Feb. 3-9)
CVS Health in $10.6 billion deal to buy primary care provider Oak Street Health The pharmacy giant will acquire Oak Street Health in an all-cash transaction at $39 per share, in a deal valued at approximately [...]
Latest Retail News and Earnings Reports (Jan. 28-Feb. 2)
McDonald’s to open 1,900 new stores in 2023; eyes big growth in China More than 900 of the new units will be in China, and 400 of the new units will be in the United States [...]
Retail Sales Research Brief: January 2023
Slowing rate of inflation a welcome sign. Core retail sales in the last month of 2022 were up by 7.2 percent year-over-year. Despite a notable upward stretch, spending may be softening. December’s retail sales volume was [...]
Latest Retail News and Earnings Reports (Jan. 21-27)
Dollar General squares off against Amazon, Walmart, CVS in rural healthcare pilot The dollar store discounter is leveraging its massive retail presence, particularly in underserved rural areas, and tiptoeing into waters already being plied by Amazon [...]
Latest Retail News and Earnings Reports (Jan. 13-20)
Aldi was named the most popular grocery store in the U.S. Aldi ranks as the most popular grocery store, with a popularity score of 65%, according to market research and data analytics firm YouGov, which polled [...]
Latest Retail News and Earnings Reports (Jan. 6-12)
Universal theme park, resort hotel coming to Frisco The park will have a 300-room themed hotel at the front of the park, along with four or five themed park areas, according to Mark Woodbury, Universal Parks [...]
Latest Retail News and Earnings Reports (Dec. 28-Jan. 5)
Whataburger, Wawa among the top 10 retailers, brands to watch in 2023 A diverse lineup of retailers (and two restaurant chains) have one thing in common: They are all poised to be winners in 2023. That’s [...]
Latest Retail News and Earnings Reports (Dec. 17-23)
Party City faces NYSE delisting Party City has six months to regain compliance with the NYSE’s minimum share price requirement. December 20, 2022 | Retail Dive Jack in the Box signs big development deal for 37 [...]
Retail Sales Research Brief: December 2022
Consumers reserve discretionary buys for promotional events. Apart from several necessity-based segments, spending declined across most retail categories last month, translating to a 0.6 percent drop in sales. This is significant, considering purchasing was up 12 percent [...]
Financial Markets Research Brief: December 2022
Federal Reserve caps off 2022 with a slimmer rate bump. In December, the Federal Open Market Committee administered a 50-basis-point hike to the federal funds rate, following four straight 75-basis-point upward adjustments. The final rate lift [...]
Latest Retail News and Earnings Reports (Dec. 10-16)
Velvet Taco opens in Grapevine early next year, prepares for further DFW expansion in 2023 Velvet Taco has plans to open in Deep Ellum, Rockwall, North Frisco, and Waco in early 2023; and Allen and North [...]
Special Report: What Kroger-Albertsons Merger Would Mean For CRE
The merger of Kroger and Albertsons would assemble nearly 5,000 stores under one ownership umbrella. To secure regulatory clearance, the two parties are willing to dispose of up to 650 supermarkets. It is this potential divestiture [...]
Latest Retail News and Earnings Reports (Dec. 2-9)
Is Amazon done disrupting retail? While Amazon still dominates online sales in the U.S., with some 40% share according to eMarketer, brick-and-mortar stores still drive 85% of all retail sales, according to the U.S. Department of [...]
Employment Research Brief: December 2022
Hiring sustains pace in November. Employers brought on a net 263,000 new personnel in November, roughly in line with the prior three-month average. Over 4.3 million jobs have been created year-to-date, which already marks 2022 as [...]
Could the 2022 Midterm Elections Impact Commercial Real Estate? (Video)
Highlights of the video include: What congressional gridlock could mean for CRE investors How has the political environment impacted CRE returns? Why CRE delivers a premium during congressional gridlock Watch Now
Latest Retail News and Earnings Reports (Nov. 25 – Dec. 1)
Retailers applaud Congressional action to avert rail strike The bill, which passed on a bipartisan vote of 290 to 137, would force the rail companies and employees to abide by a tentative agreement that the Biden [...]
Retail Sales Research Brief: November 2022
Hiring allows spending to elevate and broaden. Overall retail sales climbed by triple the pace of CPI inflation last month, up 1.3 percent. This indicates that spending improved in real terms. Expectation-exceeding October job creation that [...]
Real Estate and the Fed’s Tightening Cycle (Video)
Bloomberg recently featured Marcus & Millichap President and CEO Hessam Nadji. Highlights of the conversation include: The property types most affected by interest rates and how investors are responding Why retail is making gains and the [...]
Latest Retail News and Earnings Reports (Nov. 11-17)
Chipotle to open 250 to 285 restaurants in 2023 The company has opened its 500th location that features the brand’s digital order drive-thru pick-up lane (“Chipotlane”). At least 80% of the restaurants opened in 2022 and [...]
The Impact of Rising Rates on Commercial Real Estate (Video)
Yahoo Finance recently featured Marcus & Millichap President and CEO Hessam Nadji to discuss the state of commercial real estate and the retail sector. Highlights of the conversation include: • Commercial real estate facing a “liquid [...]
Inflation Research Brief: November 2022
Inflation falls to slowest pace since the start of the year. Headline CPI increased 7.7 percent over the 12 months ended in October, the smallest year-over-year increase since January 2022. While a notable deceleration compared to [...]
Latest Retail News and Earnings Reports (Nov. 4-10)
Panera Bread targets growth in urban markets with new digitally driven formats The company is expanding into urban markets and non-traditional settings with a streamlined store model. With digital now accounting for 50% of its total [...]
Latest Retail News and Earnings Reports (Oct. 29-Nov. 4)
Cineworld reaches bankruptcy settlement with lenders and landlords, gets approval to reject 17 leases The parent company of Regal Cinemas will be allowed to retroactively reject 17 leases as part of the settlement. The company had [...]
Latest Retail News and Earnings Reports (Oct. 22-28)
Walmart goes high-tech with multi-million-dollar Texas distribution center Retail giant pushes ahead with plans to automate all regional DCs Sweetgreen opens first digital-only pickup location Customers can’t buy anything on-site at the new Sweetgreen. Report: Department [...]
Latest Retail News and Earnings Reports (Oct. 14-21)
Amazon’s fall sales event estimated to have fallen short of Prime Day — while still raking in approximately $8 billion Bank of America analyst Justin Post estimated that Amazon’s October event generated $8 billion in gross [...]
Latest Retail News and Earnings Reports (Oct. 8-14)
Kroger agrees to buy rival grocery company Albertsons for $24.6 billion Kroger is the second-largest grocer by market share in the United States, behind Walmart, and Albertsons is fourth, after Costco Delta Air Lines and Starbucks [...]
Latest Retail News and Earnings Reports (Oct. 1-7)
The 10 Quickest Fast-Food Drive-Thrus in America Wendy’s drive-thru lanes struggle, while Chick-fil-A has the fastest service Discount Tire unveils drive-thru store prototype The "Pit Pass" store features "embedded tire scanners, digital displays, online ordering and [...]
Latest Retail News and Earnings Reports (Sept. 24-30)
Starbucks to open one store nearly every nine hours in China for next three years Starbucks is celebrating two milestones in its largest market outside of the U.S. Chipotle moves ahead with kitchen robots, seamless [...]
Latest Retail News and Earnings Reports (Sept. 17-23)
The 25 Fastest-Growing Fast-Food Chains in America The top chain added 246 locations since 2020 Walgreens to pay $1.4 billion to buy rest of Shields Health The company will buy the remaining 30% stake in [...]
Latest Retail News and Earnings Reports (Sept. 10-16)
Starbucks to open 2,000 U.S. stores by 2025; investing $450 million to modernize The company projects earnings per share growth of 15% to 20% annually over the next three years Bed Bath & Beyond [...]
September Retail Sales Outperform as Foot Traffic Remains Elevated
Consumer spending sturdy last month. Unfazed by the end of federal unemployment benefits and other dissipating stimulus, core retail sales increased 0.7 percent in September and 13.5 percent from the same period last year. Although inflation, [...]
Consumers Moved Away From Service Providers, Boosting Retail Spending
Core retail sales reverse course in August. Shoppers remained active at the end of the summer, driven by online spending and back-to-school sales. Overall, core retail sales increased by 2.0 percent between July and August, largely [...]
Annual Retail Sales Remain Strong; Property Fundamentals Resilient
Consumers tapped brakes on spending last month. Core retail sales dipped 0.7 percent on a monthly basis in July. Flattening consumer confidence likely indicates that the increase in coronavirus cases due to the delta variant is [...]
Back-to-School Season Boosts Property Fundamentals, Employment Growth and Retail Spending
Campus reopenings and the return of in-person learning has the potential to lift property demand across an array of commercial real estate sectors. The resumption of a traditional school year will also represent a catalyst for [...]
Economy Returns to Pre-Recession Levels, Fueled by Stimulus
Growth remains steady. In the second quarter, the economy expanded 6.5 percent on an annualized basis. Gains would have been larger but supply-chain challenges and a labor shortage hamstrung improvement. Those issues should be transitory, however, [...]
Retail Emerging from Health Crisis Better Positioned than Anticipated; Investors Broaden Search Criteria
The rapid vaccine distribution has enabled every state to mostly reopen stores and restaurants. As a result, more people are visiting brick-and-mortar locations, spurring strong consumption across the country. States that reopened first are generally performing [...]
Rising Prices Fuel Increase in Retail Sales in June
In June, core retail sales increased 1.1 percent as Americans continued to use money accumulated from stimulus and savings. Although more spending is aimed at services due to the broad reopening, plenty of new cash in [...]
Retail Sales Flatten as Shoppers Rely Less on Government Stimulus
Although core retail sales dipped 0.8 percent from April to May, expenditures are 15.7 percent above the February 2020 level as stimulus funds and amplified unemployment benefits flooded the economy with additional capital. Monthly gains are [...]
Client Webcast:: Retail Trends 2021 – Replay Available
The replay of Retail Trends 2021 is now available. Danile Taub hosted a panel of industry leaders to discuss the emerging trends and investment outlook for retail real estate. Hessan Nadji delivered a market update special [...]
Fox Business: Post-Pandemic Cycle Accelerating, But New Tax Proposals Spark Uncertainty
Fox Business features Marcus & Millichap's President and CEO Hessam Nadji Post-Pandemic Cycle Accelerating, But New Tax Proposals Spark Uncertainty What’s fueling post-pandemic economic growth The drivers supporting positive CRE momentum Why new tax proposals are creating investor [...]
Post-Pandemic Investment Trends Special Report
Find out what's driving today's unexpected investor optimism! CLICK TO DOWNLOAD SPECIAL REPORT
Bloomberg News: Commercial Real Estate Risk/Reward Spectrum Fuels Capital Flows
Bloomberg News Features Marcus & Millichap's President and CEO Hessam Nadji Commercial Real Estate Risk/Reward Spectrum Fuels Capital Flows How the Health Crisis has broadened the real estate yield spectrum The opportunities international investors see in [...]
Marcus & Millichap Retail Trends 2021
Original Broadcast: December 8, 2020 WATCH REPLAY Has the Retail Market Changed Forever? Watch the replay of an engaging panel discussion with industry leaders on the retail real estate investment market. SEE ORIGINAL ARTICLE
Fox Business: Don’t Judge The Retail Book By Its Cover
Fox Business features Marcus & Millichap's President and CEO Hessam Nadji Don’t Judge The Retail Book By Its Cover What the eCommerce surge means for brick & mortar stores The transformation of retail – where adaptive reuse [...]
A Conversation with Dr. Ben S. Bernanke
A Conversation with Dr. Ben S. Bernanke Webcast Replay Watch Replay → Original Broadcast: A Conversation with Dr. Ben S. Bernanke November 18, 2020 SEE ORIGINAL ARTICLE
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