Weekly Perl: A Commercial Real Estate News Recap
Fed's Powell says he'll stay on as governor after term as chair ends - as it happened
Powell said he'll be staying on the Fed Board of Governors after his term as chair ends in May.
He said his choice reflects his concern over a series of legal attacks on the Fed.
"I worry that these attacks are battering the institution and putting at risk the thing that really matters to the public, which is the ability to conduct monetary policy without taking into consideration political factors," he said...
Tariff refund portal opens; some retailers may be due billions
The 10-year yield rose 0.017 percentage point to 4.352% today. The price fell 4/32 to 98 6/32.
--Yield is up for two consecutive trading days
--Yield is up 0.044 percentage point over the last two trading days
--Largest two-day yield gain since Wednesday, April 22, 2026
--Yield is up eight of the past 10 trading days
--Today's yield is the fifth highest this year
--Highest yield since Friday, March 27, 2026,...
Levi’s, Whole Foods Market among ‘most trustworthy’ companies in U.S.
Some retailers score better than others when it comes to being trusted by comsumers.
Brands that have earned a high degree of trust among consumers are highlighted in Newsweek’s “Most Trustworthy Companies in America 2026” report. The annual study, conducted in partnership with Statista, ranks companies based on trustworthiness. (See end of article for top 20 companies.)
Newsweek noted that while trust is a corporation’s most prized possession, it’s an intangible quality that remains “notoriously difficult to quantify...”
2025 Retail Net Lease Sales Volumes and Cap Rates
The single-tenant retail sector posted $2.2B in third-quarter sales volume, down 13.5 percent from the second quarter and nearly 17 percent year-over-year. Cap rates recorded slight upward pressure, rising 1 basis point to 6.93 percent, and by 13 basis points year-over-year.
The Southeast region dominated transaction activity in the third quarter, recording $653.7 million in volume and accounting for 29.7 percent of the total. The West followed with $430.9 million, representing 19.6 percent of overall volume. The Southwest ranked third with $373.3 million, or 16.9 percent, while the Northeast recorded $361.0 million, representing 16.4 percent. The Midwest contributed $261.3 million, or 11.9 percent of total volume, and the Mid-Atlantic region trailed with $123.2 million, accounting for 5.6 percent...
Two more big brands leave the Promenade
Doc Martens and It's Sugar have closed their locations on the Third Street Promenade contributing to the 30% vacancy rate on the City’s flagship economic street, even as officials point to millions of dollars in revitalization investments and a wave of new tenants preparing to open their doors.
The departures add to a growing list of vacancies on a street that has struggled to regain its footing since the pandemic. The closures of the Misfit and Anthropologie prompted community debate while the replacement of the Britannia with Taco Bell has also generated significant conversation...
Luxury Retailers Cluster Around Three Cities and Stay There
Bisnow reports that amid a sector-wide slowdown, luxury retailers are consolidating their presence in just three US cities: New York, Los Angeles, and Miami. After years of expansion into secondary markets, declining revenues and an uncertain economic outlook have prompted leading brands to double down on established, high-traffic corridors.
According to JLL, Rodeo Drive, Madison Avenue, Fifth Avenue, Bal Harbour, and the Miami Design District represented 80% of luxury retail openings in 2025. These locations continue to attract brands seeking proximity to wealthy shoppers and solid brand recognition...
Fifth Third's new Texas flagship sets tone for $700 million expansion
Financial services firm Fifth Third Bancorp is going big when it comes to real estate in Texas as part of its planned $700 million expansion, looking to attract new customers after its nearly $11 billion acquisition of Dallas-based Comerica Bank.
The Cincinnati-based bank opened its first retail financial center in Texas on the ground floor of an office building in Frisco, Texas, a northern suburb of Dallas. Fifth Third also has three floors of office space at the building at 17 Cowboys Way that it inherited as part of the Comerica deal...
CVS expands national rollout of pharmacy-only stores to DC
CVS says it is planning several pharmacy-only locations across the country this year — including one that just opened in Washington, D.C. — as the nation's largest drug store chain works to improve customer access to medications.
The Woonsocket, Rhode Island-based retailer opened its D.C. location at 3701 New Hampshire Ave. NW. The store is open seven days a week on the ground floor of the multifamily building Modo Apartments...
Retail Real Estate Gets Smaller and More Selective in 2026
Retail Real Estate Adapts to New Tenant Demands
Retail real estate is experiencing a reset as tenants pivot to smaller, more efficient stores, especially in sought-after locations. According to Globe St, landlords are responding by investing in subdividing larger spaces to accommodate the shift, often creating flexible layouts that support the growing demand for multiple small units over single large ones...
Store Expansion Puts Starbucks Back in Growth Mode for 2026
CoStar reports that Starbucks posted its first quarterly earnings growth in over two years, signaling momentum in its ongoing turnaround. The company resumed store expansion, ending its fiscal Q2 with 41,129 global cafes, including nearly 17,000 in the US and almost 8,000 in China.
The brand aims to open 650 stores worldwide in 2026, continuing a rebound after last year’s closures and layoffs. US expansion is expected to add 150 to 175 company-owned locations, while international regions will see 450 to 500 new cafes...
7-Eleven to renovate, expand thousands of North American stores
7-Eleven, the world’s largest convenience store chain, is accelerating its strategy to boost food and beverage sales with a new initiative to renovate thousands of stores to make room for bigger kitchens and coolers to hold chilled food and drinks.
7-Eleven said it is planning to expand and modernize about 7,000 stores in North America by 2030. It’s an addition to a previously announced plan to open 1,300 new stores in the U.S., Canada and Mexico by 2030. 7-Eleven did not provide a cost estimate for the renovation initiative and did not identify the stores slated for upgrades...
