Shopping Centers Today October 2014
A crowd of buyers is chasing a small number of properties for sale, causing cap rates to dive.— SCT October 2014
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The Bottom Line
“The immediate effect of the potential acquisition is unknown in the marketplace.”— SCT October 2014
The storied past of the Grove Arcade shopping center, in Asheville, N.C., began with the vision of E.W. Grove, a patent-medicine magnate who imagined building what he came to call “the finest structure in the South.” When the arcade opened in 1929 tenants in the neo-Gothic-style building included a haberdashery, candy and cigar stores, millinery shops, bookstalls and specialty grocery stores.
On the Ground
In California's Inland Empire region, boomtowns that went bust are seeing resurgence thanks to improved fundamentals.