For the brick-and-mortar retail industry, success begins and ends with the ability to adapt to market changes. In recent years, retailers such as Amazon have completely disrupted how consumers make purchases by creating a one-stop shop, e-commerce channel. With consumers enjoying a convenient way to browse and buy from the comfort of their homes, brick-and-mortar retailers are at a crossroads, having to find new and unique ways of attracting consumers into their stores. To survive, shopping centers must reinvent how they appeal to consumers by creating a distinctive experience that also caters to a demographic specific to the retailer’s location. Click to read more at www.ccim.com.
Top Texas Republicans are touting a way to lower skyrocketing property taxes across the state: Raise the sales tax instead. Their tax-swap proposal — which would boost the statewide sales tax by 1 percent, from 6.25 percent to 7.25 percent — would have to be approved both by the Legislature and by Texas voters later this year before it could go into effect. Click to read more at www.star-telegram.com.
The 2019 survey on commercial lending takes place in an economic environment marked by slightly higher interest rates and a lower level of bank reserves held by depository institutions that underpin the level of lending. 56% of respondents reported an increase in net operating income in 2018, a decrease from 65 percent in the previous year’s survey. 38% of respondents reported tighter lending conditions in 2018, up from 35 percent in 2017, with a higher fraction for retail stores. 65% of respondents reported the client used debt financing to purchase a property, with higher reliance on debt financing for suburban offices and retail malls. 5% to 7% was the average interest rate on loans. Click to read more at www.nar.realtor.
Houston’s economy showed signs of growth in recent months as oil and gas-related employment grew and bank lending significantly outpaced growth in Texas and the United States. Trends in the Houston economy remained positive in the three months ending in February, according to the latest Houston business-cycle index by the Federal Reserve Bank of Dallas, which analyzes economic indicators, such as job growth and oil and fuel prices. Click to read more at www.houstonchronicle.com.
The stores, ranging in size from 10,000 to 15,000 square feet, will sell tools, appliances and other hard goods under the Sears Home & Life banner, reports The Wall Street Journal. “This is part of an overall strategy to revitalize Sears,” said Peter Boutros, chief brand officer for Sears and Kmart, as reported in the newspaper. “We want to be the go-to destination for appliances, mattresses, repairs and maintenance of all your household needs.” Click to read more at www.icsc.org.
If you live in North Texas, you pretty much worship the Dallas Cowboys, and the team’s most famous quarterback, Roger Staubach. Starting next year, Cowboys fans can live right next door to their dream team’s 91-acre world headquarters and practice facility in Frisco, Texas, about 28 miles north of Dallas. Even better news: the $62.5 million project is being developed through a joint venture with Roger Staubach, one of the most famous players in football history, Cowboys current owner Jerry Jones, and former Cowboys center Robert Shaw, a Dallas-based developer. Click to read more at www.forbes.com.