Top news for real estate pros
Amazon takes another run at disrupting the US grocery market
Amazon has opened its largest Amazon Fresh supermarket in Woodland Park, New Jersey, as part of a broader 2024 effort to revamp and expand its grocery footprint alongside Whole Foods, reigniting competition in the industry.
Variety Wholesalers strikes deal to buy, keep 200 to 400 Big Lots stores open
Big Lots has reached a last-minute deal with Gordon Brothers Retail Partners to sell its assets, including stores and distribution centers, to other retailers such as Roses owner Variety Wholesalers, Inc, avoiding liquidation after filing for Chapter 11 bankruptcy in September.
Rexford aids US industrial rebound with one of 2024's priciest Los Angeles deals
Rexford Industrial Realty, Southern California's most active industrial property buyer, paid $137.2 million for a 300,000-square-foot warehouse in Los Angeles, the region's most expensive single-property industrial deal this year.
Rents jump on LA's famed Rodeo Drive despite global luxury sales decline
Despite a global dip in luxury retail sales, Rodeo Drive in Los Angeles saw a 19% rent increase in 2024, with rates reaching $1,100 per square foot—second only to New York’s Fifth Avenue, according to Cushman & Wakefield.
What to watch for in 2025: Office demolitions to accelerate
As office occupancy remains over 213 million square feet below pre-pandemic levels, a 2025 demand rebound alone won’t suffice, requiring supply-side adjustments like demolitions or repurposing underperforming buildings to restore market balance.
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