GLG News by Retail Brokerage Experts (Florida)

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS IS BACK, BABY!

July 20, 2010

The big news is that Las Vegas' new home market appears to be on the rebound.After nine consecutive months of visitor increase, two consecutive months of increased gaming win ... and despite 14.5% unemployment in June ... local housing statistics for Las Vegas contained three shocking numbers and the portent of better times to come.

Kenneth LeonardPrincipalLeonard Associates

Alas, Poor Xanadu is No Longer With US

July 15, 2010

Xanadu, that $2 Billion + mixed use project in the Meadowlands of Northern New Jersey, has been renamed "The Meadowlands". Does this have any significance for the GLG Real Estate reader or investor? I think so.

Kenneth LeonardPrincipalLeonard Associates

Chicago Anchor Report Is Worth Passing Along

June 24, 2010

A recent article in Retail Traffic Magazine basically reprints a recent survey by CB Richard Ellis examining the 48 retail anchor store leases signed in 2009 in the Chicago market . (Anchor stores are defined by CB as anything over 20,000 sq. ft.) I thought the findings were worth passing along to GLG News readers.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: Entering a New Real Estate Phase

June 22, 2010

Two key factors should have severely damaged May Las Vegas housing stats.  --- Nevada had the highest unemployment in the nation.  --- Special Federal funding  was withdrawn at the end of April.Surprisingly, the negative impact was much gentler than expected. Concentrating on just those two stats overlooks  another -- perhaps more important -- indicator:  Las Vegas appears to have entered the second phase of its foreclosure crisis … and thus far it appears less damaging than it might have been.

Kenneth LeonardPrincipalLeonard Associates

How Cheap Can a "C" Mall Get?

June 15, 2010

An article in today's Crain's Chicago titled "Big suburban mall sold for fraction of debt" details the sale of a 1 million square foot mall called Charlestowne Mall and anchored by Sears, Carsons, Kohl's, Von Maur and a large Cinema. It was bought several years ago during the height of the bubble by Wilmorite with $42.7 million of debt. Replacement cost would approximate $130 million. They could not make the payments or get it refinanced and the banks took it back.

Kenneth LeonardPrincipalLeonard Associates

The Anatomy of a New Mall

May 31, 2010

An article in the 5/10/10 issue of Crain's Chicago Business about the inner working of a troubled new mall is worth bringing to the attention of GLG clients. It is most revealing in that it names names and shows the exact dollar amounts of the types of subsidies demanded by major retailers in today's marketplace.

Kenneth LeonardPrincipalLeonard Associates

Another Ill-informed Reporter

May 26, 2010

An article in last week's Washington Post about the "hidden value" of SHLD's real estate portfolio is one of the worst pieces of business journalism I have seen in a long time. Not only is it all wrong but it is written as if no research of past analysis has ever been done.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: On the Road to Recovery

May 20, 2010

Analysis of:It's Reset Time For Valley Real Estate | www.lvrj.com

Las Vegas April housing data is a mixed bag containing some good news, some great news and a little news that less than attractive.  However, even as Las Vegas continues the positive trend found in the first quarter, the market cannot yet be called “in recovery.” But, that’s the direction the data suggests the market is moving. In April, sales were strong, inventory fell slightly and prices remained relatively stable. Here are the details:

Kenneth LeonardPrincipalLeonard Associates

Sears Is Following The Failed Montgomery Ward Strategy

April 27, 2010

Analysis of:Sears Web Site Sells Shuttered Stores | www.foxbusiness.com

This article from the Fox News network is a good example of what I have been predicting in this GLG "Blog" for the past two years. In retailing as in many other industries, certain companies are virtual "identical twins" simply because they do things in the same manner and appeal to the same customer at the same price points with indistinguishable products. That is the case with Sears and Montgomery Wards.

Steve BottfeldPrincipalMarketing Solutions

LAS VEGAS: ON THE CUSP OF RECOVERY

April 19, 2010

Perhaps the best word to describe March real estate data from Las Vegas is “Anticipation.” Both the new and existing home sectors appear to be anticipating better times with much improved numbers.

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