Weekly Perl: A Commercial Real Estate News Recap

Marc Perlof • August 8, 2025
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Despite Trump, the US economy remains surprisingly resilient. But for how long?


Thanks to stockpiling, neither the markets nor consumers have been as badly affected by the trade wars as feared. But signs of trouble are looming chaotic and unpredictable, keeping up with Donald Trump’s volatile trade war – never mind his presidency – can be tough.

Back in April after his “Liberation Day” tariff announcement, the talk was of the president crashing the global economy...

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

Downtown Activist Group Vows to 'Dismantle' DTSM


A group of Downtown property owners has vowed to fight back after the City Council Tuesday evening ousted the six Council-appointed members of the board that runs the central business district.

The Santa Monica Coalition, an activist group of property owners, is drumming up support to dismantle Downtown Santa Monica Inc. by dissolving the area's Property-Based Assessment District (PBAD), according to the group's leader, John Alle...

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It’s Trump’s economy now. The latest financial numbers offer some warning signs

WASHINGTON (AP) — For all of President Donald Trump’s promises of an economic “golden age,” a spate of weak indicators this week told a potentially worrisome story as the impacts of his policies are coming into focus.

Job gains are dwindling. Inflation is ticking upward. Growth has slowed compared with last year...

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

Veterinary Real Estate Surges As Clinics Replace Retail Closures


Pets Replace People — And Drive Real Estate Demand

As traditional retail tenants exit suburban buildings and industrial parks, veterinary care providers are moving in. They’re no longer just converting homes into clinics, reports Bisnow. The newest wave of animal care centers resembles human hospitals, a reflection of evolving consumer expectations...


The 2025 QSR 50: Fast Food’s Leading Annual Report

Each year, the QSR 50 provides a data-driven ranking of the largest quick-service restaurant chains in the U.S., offering insight into the strategies shaping the fast-food industry.

The latest edition reveals a sector defined by resilience, innovation, and shifting consumer expectations. Brands responded to macroeconomic pressures with renewed focus on value, using meal deals, digital promotions, and loyalty programs to retain price-sensitive guests...


Wayfair to bring large-format store concept to Denver

Wayfair Inc. continues to expand its biggest brand in brick-and-mortar. 

The online home furnishings giant will open its next large-format retail location at The Shops at Northfield in Denver, in late 2026. Spanning two floors, the approximately 140,000-sq.-ft. store will showcase Wayfair's vast assortment, including "Verified" items, a program that spotlights the brand's “most-trusted” products...


Starbucks pilots ‘coffee house of the future,’ to phase out pickup-only stores


Starbucks Corp. is investing in improving its brick-and-mortar experience as part of its turnaround strategy under CEO Brian Niccol.

The coffee giant plans to sunset its mobile order and pickup only concept in fiscal 2026, Niccol told analysts Tuesday on the company’s earnings call. The format was launched in New York City in 2019. It has since grown to approximately 90 locations nationwide...

Bed Bath & Beyond Home reveals opening date, location; will accept old coupons


Bed Bath & Beyond is making its brick-and-mortar return with a new format and one of its most iconic features.

The Brand House Collective, formerly Kirkland's Inc., said that it will celebrate the grand opening of its first Bed Bath & Beyond Home location on Aug. 8, in Nashville. The store opening is the first for the company under its new name, The Brand House Collective, following its approval by shareholders at the annual meeting held on July 24...


At Home store closures accelerate



The latest At Home brick-and-mortar closings add to the previously announced liquidations in June spanning 12 states. The home furniture and decor company operated about 260 stores across 40 states when it filed for bankruptcy. 

For the latest closures, all sales are final on goods purchased on or after Friday. At Home gift cards, certificates, loyalty and credit card rewards will be accepted through Aug. 14 at the closing stores...


Store Expansion News: July update



Retailers and restaurants alike made headlines in July with store expansions and new formats. 

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

  • Wayfair to bring large-format store concept to Denver The online home furnishings giant will open its next large-format retail location at The Shops at Northfield in Denver, in late 2026...


7-Eleven to open 1,300 stores in North America

Seven & i Holdings Co. Ltd. has launched what it calls the “transformation of 7-Eleven,” and it includes investments in stores and expansion.


The Japanese retail giant is embarking on the strategy following the failed takeover attempt by Canadian retailer Alimentation Couche-Tard Inc. In July, Couche-Tard, whose banners include Circle K, withdrew its $46 billion proposal to acquire Seven & i Holdings Co., citing a “lack of constructive engagement” by the Japanese company...


Claire’s files for bankruptcy; closing 18 stores — here's where

Claire’s Holdings has filed for bankruptcy protection for the second time in seven years.

The mall-based tween and teen accessories retailer, which operates stores under the Claire’s and Icing banners, said it filed for Chapter 11 protection “to maximize the value of its business.” The company also plans to start insolvency proceedings in Canada that would allow it to restructure...


By Marc Perlof September 22, 2025
Hey, Retail Real Estate Rockstars! Property owners could lose tens of thousands in federal tax savings on building upgrades starting July 2026. The Big Beautiful Law (H.R. 1) ends the Energy Tax Deduction for Commercial Buildings (§ 179D) . If you’ve been counting on tax savings for energy upgrades like HVAC, lighting, or windows, here’s what you need to know to plan smart. What § 179D Gave You vs. What’s Changing Before, § 179D let building owners (including retail landlords) take tax deductions for energy-saving improvements, things like LED lighting, efficient HVAC systems, and better insulation or windows. These deductions often meant real money saved when making upgrades. Now, under H.R. 1: Starting July 1, 2026 , new construction or upgrade projects will no longer qualify for § 179D deductions¹. That means no tax savings for HVAC, lighting, or other energy upgrades if work begins after June 30, 2026 . Projects already started before that date may still qualify. Key Points The energy tax deduction (§ 179D) ends for projects that begin after June 30, 2026¹. Retail owners planning upgrades should move quickly to use the benefit before it disappears. Budgets, return on investment (ROI), and financial models need to be updated for this change. Data You Should Know § 179D savings were often measured in dollars per square foot of upgrades across lighting, HVAC, and building envelope systems². The repeal impacts all commercial building owners starting new projects after mid-2026¹. For example, a $250,000 HVAC upgrade that qualified under § 179D could deliver $25,000–$50,000 in tax deductions, savings that disappear once the repeal takes effect. Without § 179D, payback periods could stretch longer with ROI dropping by 10–20% on similar projects². What This Means for Your Property If you’ve been planning energy-efficient upgrades and counting on § 179D: Your ROI will be lower — you’ll need to depend on state programs, utility rebates, or direct energy savings. Any deals assuming § 179D must be re-checked and adjusted. Getting upgrades done before June 30, 2026 can help maintain property value since future buyers won’t have this tax break. If you’re a retail property owner looking at upgrades, whether for lighting, HVAC, windows, or insulation, this repeal changes the game. Let’s review your projects, see if they can begin in time to qualify, and adjust your cash flow plan. Call or DM me to map out your best move. With § 179D ending on June 30, 2026, what upgrades will you push forward now and will they still hold value once the tax break is gone? #179DRepeal #EnergyEfficientTaxDeduction #CommercialBuildingUpgrades #TaxSavingsForHVACLighting #HR1EnergyTax
By Marc Perlof September 19, 2025
7 Brew’s Second-Largest Franchisee Sold to FEP One of QSR’s fastest-growing concepts is getting another accelerant. Franchise Equity Partners, a private investment firm with $1 billion of committed capital, announced Tuesday it’s acquired a majority stake in 7 Crew—the second-largest franchise owner of rapidly expanding beverage chain 7 Brew. As part of the deal, FEP will carry out 7 Crew’s existing development agreement to open more than 200 new stands in addition to the 50 it currently directs...
By Marc Perlof September 12, 2025
Cherished Malibu Seafood Shack The Reel Inn May Rebuild After State Reversal  Malibu’s one-of-a-kind seafood spot, The Reel Inn, may once again serve its signature fish puns and fried and grilled platters on Pacific Coast Highway after the state reversed its earlier position that blocked the restaurant’s return, according to Eater LA...
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