Retail commercial real estate news and analysis.
MetLife Investment Management has divested Overlook at Oakbrook, a 52,876-square-foot unanchored retail strip center in Chicago's western suburbs, for $44 million. The transaction highlights continued investor appetite for well-located assets in the affluent Oak Brook market.
Following a prolonged period of volatility, institutional investors are turning their attention back to the British retail sector. With pricing adjustments creating attractive entry points, the race to acquire prime assets is intensifying.
State legislators have reintroduced a measure aimed at extending rent stabilization protections to commercial tenants, potentially reshaping the landscape for small businesses and property owners alike.
TMG Partners assumed the ground lease on the four-story Metreon shopping center in downtown San Francisco, a 92% leased property previously assessed at $150.7 million, with plans to rebrand the fourth-floor event space.
Chicago's retail vacancy rate has fallen to 4.9% — near a 30-year record low — with Gold Coast rents topping $300 per square foot and Southport corridor hitting zero vacancy, even as downtown corridors continue to struggle.
From the 83-acre Westminster Mall redevelopment to Warner Center's affordable housing transformation, developers across Los Angeles are converting underperforming retail into mixed-use communities.
