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☆ One-Third Vacant, Massachusetts Mall Shows Why Regional Operators Are in a Bind
▼ + stars: | 2022-10-11 | by ( Kate King | ) www.wsj.com time to read: 1 min

NORTH ATTLEBOROUGH, Mass.—The only mall in this former manufacturing town recently sold for a fraction of its value only a decade earlier, another sign that regional malls are sitting out a broader recovery in retail real estate. The previous owner of Emerald Square Mall, which spans 1 million square feet and features stores such as Victoria’s Secret and Macy’s , defaulted on $94.5 million of debt in mid-2020. That marked the largest loss recorded on a loan securitized in the last dozen years, according to Moody’s Investors Service .

☆ Retail Real Estate Is Enjoying Its Biggest Revival in Years
▼ + stars: | 2022-10-04 | by ( Kate King | Photographs Timothy Mulcare For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Bricks-and-mortar store owners are emerging from the pandemic with surprising strength, posting some of their best numbers in years and plotting expansions as more Americans venture out to buy things again. U.S. retail vacancy fell to 6.1% in the second quarter, the lowest level in at least 15 years, while asking rents for U.S. shopping centers in the quarter were 16% higher than five years ago, according to real-estate services firm Cushman & Wakefield .

☆ Unexpected Revival in Group Travel Boosts Hotel Owners
▼ + stars: | 2022-09-20 | by ( Kate King | ) www.wsj.com time to read: 1 min

The chairman of Omni Hotels & Resorts says its Southern properties, including the Omni Nashville Hotel in Tennessee, are seeing a recovery in group-travel business. People are traveling in packs again. More than two years after the pandemic grounded group travel, hotels are finally selling blocks of rooms. Bookings for corporate events, conferences and large social gatherings such as weddings and reunions started picking up steam this spring and have accelerated for many hotels and resorts through the summer, analysts and hotel owners said.

☆ Hilton Boutique Brand to Make Debut on Broadway, as Times Square Revives
▼ + stars: | 2022-09-12 | by ( Kate King | Photographs Jackie Molloy For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Hilton Worldwide Holdings Inc. has tapped a major development project in Manhattan’s Times Square to debut a boutique hotel brand, another sign the entertainment district is bouncing back after languishing for much of the pandemic. The hotel, which will be the first under the new Tempo by Hilton flag, will feature 661 rooms when it opens next year. It is part of TSX Broadway, a $2.5 billion, 550,000-square-foot tower located next to Times Square’s red bleachers and the TKTS discount-tickets booth.

Property ReportThe biggest landlord of the city street renowned for bespoke tailoring wants to demolish two buildings and redevelop the site as a mixed-use complex, relocating several tailors and in some cases requiring them to move off the row altogether.

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