Commercial real estate pricing entered 2018 on a low note. Nationwide prices fell 0.3% last month, representing the ninth consecutive month of declines. “We edged off historic highs. The declines over the last three quarters have been mild and more of a stagnation than a decline,” Ten-X Senior Quantitative Strategist Chris Muoio said. “Prices have plateaued.”
As prices continue to fall, the industry’s aggressive fundraising efforts have left an abundance of dry powder — cash reserves set aside for investment purposes — in the market. Billions in capital that is not deployed, coupled with a lack of attractive investment opportunities, has contributed to the slight drop in commercial real estate valuations.
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Amazon enters grocery business with $13.7 billion purchase of Whole Foods. After testing a variety of concepts to enter the grocery store segment, Amazon recently announced an agreement to acquire Whole Foods Market for $13.7 billion. The purchase gives the e-commerce giant instant access to the grocery store business, which accounts for consumer spending of more than $636 billion per annum. More importantly the purchase highlights the importance of omnichannel platforms, which incorporate a blend of brick-and-mortor establishments with an online footprint to drive traffice and sales.
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Marcus & Millichap
A number of bills passed creating and/or empowering MUDs and giving them road district powers.
- HB 777: Effective immediately. Prevents the loss of open space ag appraisal while owner is on military deployment or stationed outside the state.
- HB 1288: Effective immediately. County commissioner’s courts may contract with a broker to lease property owned by the county.
- SB 345: Effective immediately. Certain municipalities may use certain tax revenue from hotel projects to pay certain hotel-related bonds or other obligations.
- SB 550: Effective immediately. Deals with sale or assignment of tax credits for certified rehabilitation of certified historic structures.
- SB 1086: Effective immediately. Prohibits a state agency from public internet posting of information that identifies taxable receipts of an individual business if they are contained in or derived from information required to be provided in a HOT tax report.
- SB 1229: Effective immediately. County commissioner’s courts may contract for solid waste services in certain municipal ETJs.
- SB 1365: Effective immediately. Use of HOT taxes for sporting event tourism expanded.
- HB 807: Effective 9/1/17. Clarifies provisions relating to choice of law and venue for construction contracts.
- HB 1774: Effective 9/1/17. Clarifies procedures and damages in deceptive, unfair, and prohibited insurance practices. Provides for an increase in damages.
- SB 347: Effective 9/1/17. Regional water planning groups and their committees are subject to the Open Meetings Act.
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With its $13.7bn deal to buy Whole Foods Market, Amazon may finally have answered a question that has stumped executives in charge of its nascent groceries business. How can an online supermarket that has fewer customers than a provincial convenience store chain buy enough food to stock a virtual cornucopia?
Amazon dominates online shopping in the US, with $136bn in annual revenues. But its grocery delivery service has made faltering progress since launching in 2007.
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The nationwide urban renaissance narrative that has reverberated during the latest expansion cycle may very well just be a short-lived trend. Suburban growth surpassed urban densification, according to the latest census county population estimates.
- Not only are suburbs growing at a rapid rate, Texas ‘burbs are leading the country in population growth. Four of the five fastest-growing large cities, for the 12 months ending July 2016, are located in Texas. CBRE Research sorted through the data to give you the heads up.
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