Bloomberg: Property Investors Vote on Future of Retail With Their Dollars
According to Bloomberg:
Investors in real estate are sending a strong signal about the future of retail.
Values for U.S. industrial buildings, including the warehouses that serve as distribution hubs for Amazon.com Inc. and others that sell goods online, have been wildly outperforming retail-property values for some time. A new report from Green Street Advisors LLC shows that industrial values have climbed 15 percent over the past year, the most of the 10 types of commercial real estate the research firm tracks. Over the same period, prices for malls, the worst performer, fell 12 percent.
“On average, commercial-property pricing has barely budged,” Peter Rothemund, a senior analyst at Green Street, said in a statement, “but the average masks big differences across property sectors.”
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