Economy

Retail vacancy has fallen below 10%, and rental rates in the top submarkets are up 12%.

"We need real estate investors and brokers in this business bringing capital to deals because we cannot go to banks," say panelists at CCIM's recent Global Conference.

Facebook is donating $1 billion during the coming decade for California affordable housing, on the heels of Google's announcement earlier this year of a $1 billion housing stipend to help with the affordability crisis.

Gavin Newsom recently signed into law a bill to create a state historic tax credit of 20% of qualified rehabilitation expenditures, with an increase to 25% of QREs that meet certain criteria, i.e. affordable housing.

Statewide closed sales of existing single-family homes totaled 23,510 last month, an increase of 11.5% from September 2018, according to Florida Realtors. Florida's condo-townhouse market totaled 9,007, up 6.1% compared to a year ago.

Howard Hughes will execute a transformation plan led by new executive leadership, a $45 to $50 million annual reduction in overhead expenses, the sale of $2 billion of non-core assets and a headquarters move to The Woodlands.

In its bankruptcy filing, Destination Maternity will commence to shutter no fewer than 175 locations by Oct. 28 and no fewer than 35 additional locations by Nov. 1.

Through what the city terms is a groundbreaking collaborative by government, businesses, philanthropies, and community leaders, the city will align more than $750 million in already allocated funding to the South and West Sides over the next three years.