THE BLINDSIDE OF JCP,SHLD & DDS STORE VALUATIONS
February 4, 2011
My recent critical analysis of a WSJ article reporting on Deutsche Bank's estimate of DDS's real estate portfolio value at approximately $50.00 psf and The Appraisal Institute's endorsement of that valuation in a follow up article, has caused some serious questioning of my sanity.
DEUTSCHE BANK IS WRONG ABOUT JCP AND DILLARD'S STORE VALUES
February 3, 2011
Real Estate Portfolios Are Large Part of Many Retailers' Worth | www.appraisalinstitute.org
The very authoritative and prestigious Appraisal Institute, (the one that awards the MAI designations) shows its' ignorance about the valuation of department store store real estate in this article. By echoing a recent WSJ article that quoted Deutsche Bank's Bill Dreher's ridiculous estimate of the current market value of JCP's and Dillard's real estate, they show themselves to be as wrong about values of department store real estate as the typical poorly informed bank analyst.
Don't Be Afraid Of All The New Ghost Malls
January 26, 2011
Inside The World's Largest Ghost Mall | blog.retailtrafficmag.com
This revisiting of the world's largest ghost mall in Dogguan, China has relevance for GLG News readers as a reminder that even in today's sophisticated world of highly experienced designers and architects, really big mistakes are still being made.
Do Craftsman and Kenmore "Broadcast Portals" Help the Sears Stores?
January 26, 2011
Craftsman Experience-Sears Pushes the Click and Mortar Envelope | www.mcmillandoolittle.com
This analysis of the new Craftsman and Kenmore "non-retail" stores is worth reading by any GLG News reader who is interested in SHLD or retailing in general. The main reason for my recommendation is that this article is written by one of the most insightful retail consultants in the industry, McMillanDoolittle LLP. Their newsletter, Retail Watch, should be a must-read for any analyst interested in what's happening at the cutting edge of retailing.
Dillard's REIT Play; An Opportunity for Insiders to Cash Out!
January 26, 2011
Dillard's REIT Play Might Pave the Way for Other Department Stores | retailtrafficmag.com
This is probably the most misleading of all the recent articles I have read about the proposed Dillard's REIT! It has prompted me to wave the largest possible red flag to warn the GLG News reader of the real implications of what happens when a very troubled department store company such as Dillard's or Sears tries to monetize their owned properties.
Prospects For A Dillard's REIT
January 21, 2011
In recent weeks there has been an awful lot of speculation about the prospects for the first department store REIT. GLG News readers should be aware of some of the more important issues that will come into play when analyzing the relative desirability of investing in it or in Dillard's stock.
January 13, 2011
Ever since the late 1700's when 24 merchants founded the New York Stock Exchange at an Inn along the road that connected the two walls on the lower part of the island, built to keep out the British some 100 years previously, there has been a long series of financial panics. I thought the GLG News readers might benefit from reviewing the causes and effects of those panics.
January 10, 2011
Retail building to hit low, then recover | www.chicagorealestatedaily.com
According to this article, shopping center development will hit only 634,400 square feet in 2011. This is the lowest amount of new development since 1983 when records were started to be kept.
Another Distraction For Sears Management
December 28, 2010
Sears Launches Video Download Service | www.chicagobusiness.com
One of the first things I learned from many of the top merchants in the world during a 40 + year career in Retailing was "to always try to be the best at what you do best". If you sell shoes, be the best shoe seller you can be. It is well understood and practiced by the top retailers, that distractions hurt the main effort in more ways than can be imagined.
The Last Word On CRE Indexes Of Value
December 23, 2010
Where Are CRE Values? | www.feedblitz.com
As many of you know, there has been a consistent attempt to create a benchmark around which COMMERCIAL REAL ESTATE DERIVATIVES could be created. This article does a very nice job educating the reader about the strengths and weaknesses of each of the three Indexes vying for the right to be used as the appropriate benchmark.
February 6, 2012
Las Vegas real estate: A happy new year?
January 20, 2012
Commercial property sales plunge in New York City: Why should everyone care?
January 19, 2012
Are Macy's closures a leading indicator of mall REIT values?
January 18, 2012
Ireland's commercial property outlook
January 9, 2012