Real Estate and Development

Protests Amid a Pandemic

For the fourth night in a row there were protests around the Country Club Plaza over the death of George Floyd in Minneapolis at the hands of the police last week. And for another night, police declared the protests an… more

Costco Sees a Sales Bump

Costco Wholesale Corp. saw net sales rise by 7.3 percent, to just under $36.5 billion, while same-store sales in the United States rose 5.9 percent. However, net income did drop year over year, to $838 million from $906 million. Costco… more

Rent Growth in Kansas City Slows

Apartment rents in Kansas City have slowed down in their increases year over year, but not as much as in other parts of the country. Rent growth was at 3.3 percent year over year in the metro, down from the… more

Q&A With … Owen Buckley, LANE 4 Property Group

Owen Buckley, Managing Partner, LANE4 Property Group, which specializes in commercial real-estate within the retail sector. Q. A number of encouraging metrics indicate economic activity is picking up on multiple fronts, even if slowly. Will it come in time to… more

Big Crowds at Nebraska Furniture Mart

Nearly three weeks after reopening its stores in Omaha and Dallas, Nebraska Furniture Mart did the same for its Kansas City-area location over the Memorial Day weekend. If the pent-up demand for home furnishings is an indication, the retail sector… more

Victoria’s Secret Parent Closing 300 Stores

L Brands, the parent company of Victoria's Secret, said it will close 250 of those stores due to them being shut for months due to COVID-19 and the resulting revenue loss. Meanwhile, the company is also closing Bath & Body… more

Target Sales Jump in First Quarter

Retailer Target Corp. saw sales rise 10.8 percent year over year during the first quarter as shoppers flocked its stores and website at the start of the COVID-19 outbreak. Digital sales skyrocketed 141 percent year over year, while store sales… more

Mortgage Applications Rose Last Week

Mortgage applications rose six percent last week from the previous week, according to the Mortgage Bankers Association, possibly pointing to a home-buying recovery. Meanwhile, purchase volume dropped 1.5 percent year over year, a major recovery from six weeks ago, when… more

J. C. Penney Closing 30 Percent of Stores

In another blow to the retail real estate industry, retailer JCPenney plans to pare back its store count by 30 percent, or 240 stores. It will leave it with about 600 total stores. The company, which operates seven stores and… more

Construction Industry Lost 975,000K Jobs Last Month

April's unemployment rate hit a dismal 14.7 percent, and the construction industry was no different. It lost 975,000 jobs over the month, in an industry that was having trouble finding workers before COVID-19 hit. Though other industries faced a tougher… more