Restoration Hardware Has Not Been Restored
September 23, 2010
Restoration Hardware plans 2011 IPO | www.reuters.com
Restoration Hardware is reportedly planning a 2011 IPO. They plan to raise between $100 & $300 million. Before Catterton Partners and Restoration's CEO Gary Friedman took them private in 2008 for approximately a total company value of $175 million, they had lost money in 7 of their last 9 years. In 2007 they had lost $51.9 million in what most furniture retailers say was the last of the "good years". Restoration had tried and failed to go private in 2007 at a total price of $267 million.
Retail Malls------A Misnomer---Shame on GLG
September 22, 2010
When GLG asked for one of its' experts to write an article on "Retail Malls", I felt obliged to respond. By now GLG should understand that there is no such thing as a "Retail Mall"! There are Strip Shopping Centers, Regional Malls and all types of collections of retail stores with various names that change from time to time. There simply is no such thing as a RETAIL MALL.
LAS VEGAS: August Real Estate Data is a Mixed Bag
September 21, 2010
August real estate numbers for Las Vegas were a mixed bag of small increases and decreases resulting in no major change from either last month or last year. The Las Vegas housing market in August was "stable." Sales and prices remained stable while resale inventory showed a modest increase. Permits, however, decreased for the second consecutive month, suggesting that homebuilders remain cautious about the future. Market movement may not have been major, but there were interesting changes.
Vornado Stubed Their Toe on the Merchandise Mart
September 9, 2010
Kennedy's Merchandise Mart in play as N.Y. parent streamlines portfolio | www.chicagobusiness.com
This article in Crain's brought back some old memories for me and sadly, with the lack of profitability of the former Sears Tower, (now Willis Tower), Chicago's two largest and iconic buildings have lost their lustra.
Sears To Become A Fashion Merchant????
September 9, 2010
Wal-Mart Investors Wondering | www.chicagotribune.com
A recent article in the Chicago Tribune detailing yet another desperate move by Eddie Lampert , is worth bringing to the attention of the GLG News readers. The article talks about an upcoming test of 200 Sears stores that will be outfitted with new store fixtures and a selection of upscale, fashionable merchandise in an attempt to compete with the likes of Forever 21,H&M, Zara, Target and Kohl's.
Another Example of Old Things Becomming New Again
September 9, 2010
Retail Reits- Trouble Ahead | www.thestreet.com
An article about the growing difficulties facing both Mall and Strip Center REITs .
A NOT SO HOT SUMMER FOR LAS VEGAS
August 18, 2010
It is summertime in Las Vegas and everything is hot except the real estate market. July is traditionally a slow month for Las Vegas residential product and this year more than honored that tradition.Sales slowed. Prices remained static. Inventory enjoyed a very uneven performance.Here are the details:
Another Example of Mr. Lampert's Genius
August 11, 2010
Sears to open first Craftsman tool store in Chicago's River North gallery district | www.chicagobusiness.com
A new Sears tool store in a very odd and almost unduplicable location in a unique segment of the downtown Chicago market, is the latest example of the death throes Sears is going through under the leadership of Mr. Lampert.
August 9, 2010
Developers To Hand Back Xanadu Project to Lenders | online.wsj.com
$2 & 1/2 Billion invested in one of the biggest white elephants in the history of the shopping center industry is now, in my humble opinion, worth approxamately $250 Million. What happens next?
Don't Get Too Excited About the Latest From Sears
August 3, 2010
A recent article in the Orange County Examiner detailed the fact that Forever 21 had finalized a deal to lease (or sublease or License, it was not made clear) some 43,000 sq. ft. on three floors of the Sears store in South Coast Plaza. What are the obvious and less obvious implications of this new venture on SHLD's future profits?
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