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The Sheraton Times Square trades for half of what the seller paid for it while the drumbeat grows to bring casinos to NYC.
They are planning a mixed-use redevelopment of the site, including a residential component.
Nashville tops the list with nearly 63% growth in retail rental rates since 2011.
CBRE survey found that 52 percent will reduce space; 39 percent will expand.
Boston led the charge in terms of square footage under conversion as of the first quarter.
Rents near $9/SF will keep rising as materials shortages clog the pipeline and occupiers increase their "safety stock," CBRE says.
Russia's war on Ukraine scuttled any hope of stabilized numbers.
Second Avenue receives $250 million Investment from Monroe Capital.
Land, healthcare and self-storage REITs topped the leaderboard in March as 18 of 19 sectors had healthy yields.
For now, tailoring to the younger demographic can make a student housing operator appear hip.