Retail closures continue

The year 2017 was engraved upon the tombstones of numerous retailers. Fifty major chains went bankrupt, including Toys “R” Us and Payless Shoes. That’s up from 47 filings in 2016 and just 30 in 2014. Department stores and other longtime retailers have been decimated by Amazon and Walmart. The retail implosion likely isn’t going away any…

APARTMENT REIT IRET ADJUSTING TO MAJOR CHANGES

Mark Decker Jr., president and CEO of IRET (NYSE: IRET), joined Nareit for a video interview at REITworld 2017. IRET focuses on the ownership, management, acquisition, redevelopment and development of multifamily apartment communities. Decker took over as president and CEO of IRET in April. He noted that the company’s management team has undergone substantial change in…

ALEXANDER & BALDWIN ADAPTING TO NEW REIT STATUS

Christopher Benjamin, president and CEO of Alexander & Baldwin, joined Nareit for a video interview at REITworld 2017. Alexander & Baldwin (NYSEMKT: ALEX) owns, operates and manages 4.8 million square feet of retail, industrial and office space primarily in Hawaii and on the U.S. mainland. Alexander & Baldwin converted to a REIT at the beginning of 2017.…

LEN WAYNE CROFTON V. THE STATE OF TEXAS

Court of Appeals of Texas, Houston (14th Dist.). LEN WAYNE CROFTON, Appellant v. THE STATE OF TEXAS, Appellee NO. 14-16-00737-CR     Decided: December 21, 2017 Panel consists of Justices Jamison, Busby, and Donovan. OPINION Appellant Lee Wayne Crofton appeals his conviction for resisting arrest. A jury found appellant guilty, appellant pleaded true to an enhancement paragraph,…

SHOPONE READY TO GO ON OFFENSE IN 2018

Privately held ShopOne Centers REIT, Inc. launched in October 2017 with a portfolio and a plan. The company is an offshoot of Devonshire REIT Inc., the source of the majority of the 46 assets in its grocery-anchored retail portfolio. The plan at launch centered on paying off the debt on the assets it acquired before…

LIFE SCIENCES REIT ALEXANDRIA IMPLEMENTING AWARD-WINNING WELLNESS PROGRAM

Ari Frankel, assistant vice president for sustainability and high-performance buildings at Alexandria Real Estate Equities, Inc. (NYSE: ARE), was a guest on a special edition of Nareit’s REIT Report Podcast during Nareit’s REITworld in November. Alexandria owns, operates and develops collaborative life science and technology campuses in North America. Alexandria received the 2017 “Most Innovative” Leader in the Light…