Weekly Perl: A Commercial Real Estate News Recap

Marc Perlof • January 9, 2026
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Net Lease Cap Rates Stabilize as Market Focus Shifts to Risk Over Rates

The net lease market barely budged in Q4, but beneath the surface, investors are repricing around risk—not the Fed.

Cap rates hold steady: In Q4, single-tenant net lease cap rates rose just one bp to 6.81%. Retail dipped to 6.55%, office climbed to 8.00%, and industrial held at 7.20%. Despite Fed rate cuts, pricing remained steady, signaling a break from short-term policy influence...

A blurry picture of a clothing store with clothes on display.

13-story hotel gets green-light at 4200 Century Blvd. in Inglewood


The City of Inglewood has signed off on a project which would replace the 135-room Tradewinds Hotel on Century Boulevard with a larger mixed-use building.


Gregory Peck of Beverly Hills-based Crescent Hotel Group, the applicant attached to the project at 4200 W. Century Boulevard, has proposed the construction of a 13-story, 335,000-square-foot building containing:

  • 11 condominiums on floors 9-12;
  • 118 extended stay hotel rooms on floors 7-12;
  • 175 hotel rooms on floors 3-6; and
  • event space, a lobby, a bar, and restaurant space on floors 1-2.
A car is parked in front of a sign that says 223

Retail Leasing Strategies Evolve in Uncertain Economy

According to Globe St, retailers are moving away from traditional, long-term leasing models in response to a dynamic economic landscape. Rather than treating retail leases as static occupancy costs, companies are viewing them as strategic tools to maximize flexibility and bargaining power. The approach allows retailers to better respond to everything from changing consumer trends to broader financial pressures...


The front of an aldi store with a sign in front of it.

Store Expansion News: December update


Retailers and restaurants alike made headlines to close out 2025 in December with store expansions and new formats.

Here are the major stories as reported by Chain Store Age, starting with the most recent.

  • Report: Barnes & Noble to open 60 stores in 2026 The bookseller plans to open 60 new locations across the country in 2026, reported USA Today. According to a list obtained by the publication, Barnes & Noble plans to open stores in Ohio, Texas, Florida, Illinois, Colorado, Washington state, California, Virginia, Georgia and Washington D.C., with "several openings" scheduled between now and June 2026...


Kroger is ready to grow again in Houston area

Kroger’s only activity in the Houston area over the past few years has involved store closings and some remodels, but that is about to change.


The Cincinnati-based grocer plans to open several stores in the Houston area and continue remodeling existing locations, according to the Houston Business Journal.


Kroger did not respond to a request for comment.


Five Houston-area Kroger stores closed in 2025. During that time, the grocer combined its Houston and Dallas divisions to form a new Texas Division...

Benihana plans to get bigger, faster in San Francisco Bay Area following success


Benihana, the Japanese restaurant chain known for its teppanyaki dining style, is plotting an expansion in the San Francisco Bay Area.


The brand’s parent, publicly traded Denver-based One Group Hospitality Inc., signed a seven-year deal with an “experienced operator” to open 10 Benihana locations around the region, including three Benihana franchises, two Benihana joint-venture locations and five Benihana Express outlets...

Retail Media Platforms Redefine Store Strategy



Retail spending trends remain surprisingly robust, with holiday-period sales increasing by around 4% year-over-year, according to Mastercard and Visa data. However, Globe St reports that once inflation is accounted for, this growth flattens, revealing that Americans are spending more dollars but not necessarily purchasing more goods. These trends come amid declining consumer sentiment since April 2024, underscoring growing uncertainty in the retail sector...

Underwriting Standards Tighten for 2026 Refinancings

According to Globe St, commercial real estate lending in 2026 is shaping up as a ‘sorting year,’ with banks, CMBS, and private credit outlets applying far tougher underwriting standards. The backdrop: higher-for-longer rates, mounting maturities, and a thirst for strong sponsorship and financeable assets.


According to Trepp’s research, deals supported by robust cash flow and experienced sponsors are passing the new underwriting hurdles. Marginal assets, particularly those with optimistic past assumptions, face stricter debt service coverage requirements and heightened scrutiny...

Grocers lift North Texas to nation’s top market for new retail construction


The Dallas-Fort Worth region is the nation’s top market for new retail construction, spurred by an ever-growing number of grocers seeking to capitalize on people moving to Texas.



North Texas has 7.6 million square feet of new retail projects in the pipeline — roughly twice the amount of the No. 2 U.S. market, which is Phoenix with 3.6 million square feet, according to CoStar’s latest data...

Jollibee’s International Business Could Go Public in U.S.

Jollibee Foods Corporation (JFC) announced plans to spin off its international business and take it public on a U.S. securities exchange, according to a filing with the Philippine Stock Exchange.



The company said in a news release that it’s working with international and local advisors on defining the structure and timing of the separation and upcoming U.S. listing. The transaction is expected to occur in late 2027. JFC acknowledged that the strategy could change and there is no assurance an actual separation will occur...

Salad and Go to Close 32 Stores, Exit Texas and Oklahoma Markets

Salad and Go, once a fast-rising drive-thru chain, announced the impending closure of 32 restaurants.



The brand is exiting its Texas and Oklahoma markets, which house 25 and seven stores, respectively. Going forward, Salad and Go will shift focus toward its Arizona and Nevada trade areas.


The news comes after the chain announced in September the closure of 41 restaurants across Texas...


GameStop reportedly closing up to 200 stores

GameStop continues to shrink its brick-and-mortar portfolio.



The struggling video game retailer revealed in a December 2025 Securities and Exchange filing that it planned to close a "significant number of additional stores" during the rest of its 2025 fiscal year, which ends on Jan. 31, 2026. Although GameStop has not disclosed the exact number of stores planned for closure, reports from local media and customer notices indicate that up to 200 stores could go dark...


By Marc Perlof May 25, 2026
By Marc Perlof | MarcRetailGuy CA #01489206 May 25, 2026 If you own retail real estate, here’s what just changed for you. Some pricing strategies are rarely explained but can significantly impact your final sale price. The way your property is positioned can create competition, increase buyer activity, and change the outcome. Most owners never see how these strategies are actually used. More advanced pricing strategies are being used to control how buyers engage with a deal. In today’s market, demand is not assumed. It is created. What is causing it? Buyers are more selective and underwriting more carefully. Strong assets still attract interest, but only when they are positioned correctly. The difference is no longer just the property. It is how the deal is structured. How do advanced strategies impact your property value? They influence how many buyers engage and how those buyers behave. More activity creates competition. Competition leads to stronger offers and better pricing. What separates strong results from average ones? The ability to create that competition early in the process. Deals that rely on one buyer tend to settle. Deals that create multiple buyers competing tend to outperform. When should you use off-market strategies? Use them when discretion is important or when targeting specific buyers. When should you use controlled pricing approaches? Use them when you want to manage how buyers engage with your property and control how pricing is perceived in the market. Deals that generate early buyer competition are achieving stronger pricing than those relying on a single negotiated offer. Pricing strategy is not about exposure alone. It is about controlling the process and how buyers respond. Bonus: Strategic Underpricing Strategic underpricing involves positioning the property slightly below expected market value to increase early buyer activity. The goal is not to sell low. It is to create competition. When more buyers engage at the same time, the dynamic shifts. Buyers move faster, adjust their assumptions, and compete more aggressively on both price and terms. Some buyers may initially assume the pricing reflects distress or a motivated seller. That is why positioning and process matter. When the deal is presented correctly and buyer activity is visible, that perception shifts from “opportunity” to “competition.” This strategy only works under specific conditions. The pricing range, timing, and how buyer activity is managed during the process all need to be aligned. When used incorrectly, it can lead to weaker offers instead of stronger ones. That is why it is applied selectively and structured carefully. Most owners never see how this is actually executed. If you want to see how this strategy is structured in a real transaction, including pricing ranges, timing, and how multiple offers are managed, I put together a short guide you can request. Send me a message and I will share it with you. Are you creating competition or negotiating with one buyer? Call or DM me for more information. Based in Los Angeles. Serving Southern California. Active across California. Advising clients nationwide. #RetailRealEstate #InvestmentSales #NNN #CRE #ShoppingCenters #StripCenters #LosAngelesRealEstate #CommercialBroker #PropertyValue
By Marc Perlof May 22, 2026
Retail Real Estate Leaders Brace for Inflation Risks Retail real estate professionals arrived at ICSC Las Vegas this week with leasing momentum still intact, but economic anxiety creeping into conversations across the industry’s biggest annual gathering. Executives interviewed by CoStar News said resilient consumer spending and active retailer demand continue to support the sector, even as inflation, fuel prices, and global instability cloud the outlook for the second half of 2026...
By Marc Perlof May 18, 2026
By Marc Perlof | MarcRetailGuy CA #01489206 May 18, 2026 If you own retail real estate, here’s what just changed for you. In some situations, removing the price can lead to stronger offers. This approach allows the market to determine value instead of limiting it upfront. When used correctly, it can create competition and improve your outcome. More retail properties are being marketed without a price. Brokers are using offer-driven strategies to let buyers compete based on their own assumptions. What is causing it? Differences in buyer expectations and uncertainty in valuation are driving this shift. In many cases, investors and developers value the same property differently, especially when there is upside or redevelopment potential. How does removing the price affect your value? Removing the price can eliminate the ceiling. Buyers are not anchored to a specific number, which can lead to stronger offers when demand is present. When multiple buyers are involved, this approach can create competition and push pricing higher. What is the risk? If demand is limited, offers may come in below expectations. This often happens when the buyer pool is thin or when the property has uncertainty, such as a short lease term, tenant risk, or redevelopment challenges. When should you use Request for Offers? Use it when there is strong demand and the property is expected to attract multiple buyers. Even in these situations, active buyers and brokers will often ask for pricing guidance or a whisper price to understand where the seller expects the deal to trade. When should you use a more flexible approach? Use submit offers when you want flexibility and are testing the market. This approach allows you to respond to buyer feedback while still maintaining control of the process. Some properties are marketed without a price because the broker does not have a clear view of value. That is not the same as a strategy. When used correctly, removing the price is intentional and supported by buyer demand, positioning, and a defined process. Without that structure, it can create confusion and weaker results. We are seeing strong assets generate multiple offers with this approach, while weaker deals struggle to gain traction without pricing guidance. This strategy is not about avoiding a price. It is about allowing the market to define it when the conditions support it. If you need context, review Part 2: “Should You List Your Retail Property With an Asking Price?” In next week’s final article, read “How Strategic Underpricing Can Increase Your Retail Property Sale Price” (Part 4) , including one approach many owners overlook. If you are considering an offer-driven strategy, reach out before going to market. I will help you determine if your property can support it and how to structure it properly. Call or DM me for more information. Would removing your price increase your value or create uncertainty? Based in Los Angeles. Serving Southern California. Active across California. Advising clients nationwide. #RetailRealEstate #CRE #InvestmentProperty #CommercialBroker #LosAngelesRealEstate #NNN #RetailInvesting #PropertySales
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