Student housing investors look toward community colleges, and more CRE headlines from this week
Feb 26, 2016
Here are the news stories you might have missed this week:
The Wall Street Journal: Anchors away: Malls lose more department store tenants
The anchor store is truly living up to its name: The big box stores that traditionally have anchored shopping centers are closing, and that’s weighing down landlords and investors in these changing retail times. These store closings are a liability for landlords, who now must fill huge vacant spaces or be left with a weakened property. Some property owners are thinking outside of the box by being open to adding office space or food and entertainment options in these spaces, which can transform centers into mixed-use destinations. Others are renovating, and hope to lure new businesses to attract younger shoppers. Go to WSJ.com to understand why more anchor stores are shutting down.
Daily Hampshire Gazette: Health care a hot ticket in commercial real estate
Experts say the commercial real estate landscape in Massachusetts’s Pioneer Valley is healthy, and Northampton is seeing a surge in medical-related activity. Recent leasing includes 15,000 square feet of office space for an addiction treatment center, and new development is slated to add more office space purposely built for medical fields. In fact, two office buildings were built just to support the health and human service industry, and Northampton’s growth in medical space is expected to continue. Visit GazetteNet.com to learn more about Pioneer Valley’s entire commercial market.
CoStar: In contrarian play, multifamily investors still taking a chance on Houston
Sagging oil prices didn’t scare investors away from Houston’s multifamily sector in 2015 – investors poured $3 billion into multifamily properties there. The average sale price per unit climbed as well, and it seems like that trend will continue. Investors are bullish on the market, and they say the fundamentals of the segment are strong. Even if the economy slumps, investors see value because people will be more likely to rent. To read more, visit CoStar.com.
National Real Estate Investor: Community and technical colleges become new ground for student housing projects
For years, student housing developers went to only the largest higher learning institutions. But now, they’re going small, and building new housing at community and technical colleges in secondary and tertiary markets. These projects are usually smaller in size compared to those at larger colleges and universities, which makes sense given their smaller enrollments. However, demand for student housing throughout the country is strong, and new units should come online throughout the year and in time for the new school year in the fall. Go to NREIOnline.com to read the whole story about student housing.
Author: Michael Welch