Inflation rears its ugly head a bit higher, dollar stores in name only, Claire's reorg leads to IPO, a billion more for industrial real estate, home storage and off-site opportunities.
In Today's News
Key Inflation Gauge Hits Another 30-Year High
Inflation ran at a fresh 30-year high in August as supply chain disruptions and extraordinarily high demand fueled ongoing price pressures, CNBC reported today.
The Millionacres takeaway: Fed Chairman Jerome Powell said he finds the revving inflationary pressure "frustrating." If it keeps up, we all may.
Troubled Times for Dollar Stores, and They Aren't Even Dollar Stores Anymore
During the last week of September, the term "dollar store" took another step toward being as antiquated as "five and dime," Bisnow reports today [subscription required]. The last holdout among the major chains selling only at a dollar price point, Dollar Tree (NASDAQ: DLTR), says it's adding $1.25 and $1.50 merchandise at some stores.
The Millionacres takeaway: With their explosive growth, dollar stores have been a darling of the CRE space, but this piece sums up the turbulence that has hit this niche of late, including worker and supply issues. And some stock price hits.
That's Soooo Cute!!! Claire's Files for IPO 3 Years After Bankruptcy
Teen retailer Claire's plans to go public three years after going bankrupt, emerging from Chapter 11 reorganization, nearly doubling its year-over-year sales, and once again turning a profit.
The Millionacres takeaway: Retail Dive says Claire's is the third retail Chapter 11 alumnus this month to file for IPOs, joining Mattress Firm and Guitar Center as indicators of a retail turnaround and improved investor sentiment toward that sector.
Today on Millionacres
Abu Dhabi Wealth Fund to Invest $1 Billion in Industrial Real Estate
Mubadala Investment Co., an Abu Dhabi-based sovereign wealth fund, has formed a joint venture with Crow Holdings, a privately owned real estate investment and development firm based out of Dallas, to develop $1 billion of Class A industrial U.S. properties.
The Millionacres takeaway: With $243 billion to play around with, this is oil-soaked chump change, but as our Maurie Backman explains, it also points to the explosive demand for logistics and other industrial space that could keep this sector prime for pumping for years to come.
Home Storage Is at a Premium in These Cities
Our Nell McPherson takes a look at pandemic-prompted shifts in home priorities -- and where self-storage investors can take advantage.
The Millionacres takeaway: Follow the bouncing ball -- or in this case, moving truck -- to these five big cities to maybe invest directly in this trend, or just check the portfolios of some of self-storage REITs (real estate investment trusts) to see where they're invested and investing.