This week in CRE: Landlords say the holes Sears and Kmart are leaving are good, and more Apr 29, 2016

Here are the news stories you might have missed this week:

CoStar: Sears/Kmart closings could signal another wave of anchor store downsizing

Sears Holdings warned earlier this year of store closings and it’s now a reality: 68 Kmart and 10 Sears stores will close this summer and fall. The closings will affect malls throughout the country, from Michigan to Alabama to New York. But there may be a silver lining here: Big box retail space is scarce, so landlords see new opportunities to rent these empty anchor stores to more productive retailers at higher rents. That means many anchor spaces are expected to be backfilled quickly. Click through to CoStar.com for more about these store closings.

DNAInfo: Old Town development boom worries residents: Will ‘hood lose its character?

Chicago’s Old Town, a neighborhood and historic district in North Side, is experiencing a resurgence. New construction is underway and apartments, hotels, and retail are being added to this classic neighborhood. While that is concerning for some residents who feel like the character of the area will be changed, developers and local officials say neighborhoods change over time, often for the better. Therefore, Old Town development, which includes many multi-story buildings, is marching on. For more about what residents are saying, visit DNAInfo.com.

Commercial Property Executive: Public-private partnership makes waves in California

Here’s an exciting bit of news coming from California – the City of Long Beach, the Port of Long Beach, and Arup have teamed up for a unique, integrated design-build-finance-operate-maintain development. Long Beach Civic Center is a $520 million mixed-use public-private partnership that will feature a new City Hall building, Port headquarters, library, public park, and residential and commercial elements. This project is the first ever design-build-finance-operate-maintain development in the country. Local officials believe this project could jumpstart new development in Long Beach, as it signals to the investors and developers that the City is ready to invest in downtown. Go to CPExecutive.com for the whole story.

National Real Estate Investor: Leasing momentum accelerates at student housing communities

The school year is coming to a close for college and universities, but returning students are thinking ahead and signing leases at off-campus student housing for the fall. This trend is pushing up rents, as pre-leasing is ahead of schedule compared to the same time period last year even as occupancy rates rise. Other contributing factors? Demand remains high, but supply that has come online recently is being filled; new student housing development is also weaker than previous years. So it’s no surprise that rents are growing in major college towns like Baton Rouge, Louisiana; Lincoln, Nebraska; and College Station, Texas. Head to NREIOnline.com to read more about this movement.