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Apple reaches the Research Triangle; better investment: malls or Target (NYSE: TGT); why you should cash in on car washes; apartment concessions fading; Prologis (NYSE: PLD) says pandemic panhandlers will get the boot.
Today on Millionacres
Apple (NASDAQ: AAPL) announced plans Monday to open a massive new campus in the Research Triangle area of North Carolina. The company already plans to open a similar development in Austin, Texas, next year.
The Millionacres takeaway: To be clear, Apple will continue to use Silicon Valley as its home base. But the fact that it's also looking at other markets could spell real opportunity for investors once demand for office space opens back up on a national level.
Our Maurie Backman looks at the big-box retailer’s runaway success of late and argues that while Target may not pose as much of a threat to Class A malls, sluggish malls with heavy competition from Target could crumble in its wake.
The Millionacres takeaway: Maurie says that, of course, buying shares of Target is not at all the same concept as investing in mall REITs, or real estate investment trusts. But given the big-box giant's success and the precarious nature of malls, it's an option real estate investors may want to look at nonetheless.
Are car washes springing up all over the place in your neck of the woods? There’s a good reason for that. Like the proliferation of self-storage businesses, these operations have a relatively inexpensive cost of entry and some other favorable dynamics in their favor.
The Millionacres takeaway: Another obvious attribute of the car wash business is its immunity to e-commerce. No one's washing the family people mover online. Read here why one observer says they’re "an unusually durable commercial real estate asset."
In Today’s News
Americans are paying more to rent homes again, ending a stretch during the pandemic when they enjoyed flat or falling rental prices and widespread landlord concessions, The Wall Street Journal says [subscription required].
The Millionacres takeaway: The vaccine rollout, rising unemployment, and a return to the cities prompted this declaration that the giveaways are history for landlords -- in some markets anyway.
The world’s largest owner of distribution centers is rocking it with demand for its space, and now it can deny lease renewals for tenants it believes attempted to use pandemic conditions to gain forbearance and concessions in rent without really needing it, Bisnow reports.
The Millionacres takeaway: The CEO of this big REIT says when there’s a fight between two tenants for one space, the ones trying to take advantage of the pandemic situation will be the losers. He also says his company can obtain steel and complete projects at well below market prices. It’s good to be king.
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