TENANT UPDATE

Following a year when leasing activity declined by almost 30% in her state, a top broker in New Jersey sees a significant uptick in retail expansion with strong brands like Planet Fitness, Dollar Tree, and Five Below eagerly snapping up empty spaces.

Tech giants like Facebook, Apple, Netflix, Google, and Microsoft all benefited from a robust increase in their market capitalizations and some are expanding their office footprints across the U.S.

Easton Town Center’s $500 million new urban district, where an RH Gallery and an Arhaus have already been doing business, opened four new tenants this week.

PREIT has reported collecting 119% of rents at its 19 regional and super-regional malls in the first quarter due to payments of current obligations, as well as some it had deferred during the 2020 shutdowns.

Last week, New York City released a report saying that the value of its forest of office towers had fallen by 25% in the past year.

Though scores of national brand retailers populate the 100-plus malls and outdoor centers CBL Properties operates in 24 states, the Chattanooga, Tenn.-based company likes to point out that some 1,300 of its tenants are locally owned businesses.

Target Corp. is shuttering two of its stores in the San Francisco area.

Hy-Vee has teamed up with The W Nail Bar to open several in-store nail salons by the end of 2021.