Recent reports from research firm Trepp and ratings agency Fitch show that CMBS delinquencies noticeably improved at the end of 2018. In December, the most recent period for which data is available, the 30+ day delinquency rate for all commercial property types dropped to 3.11 percent, Trepp reports—a 22-basis-point decrease from November and a 178-basis-point decrease year-over-year.
The giant department store chain has closed hundreds of stores over the past few years, shuttering its weaker-performing units first, many located in tertiary or rural markets where it will be tougher to find users to take over the massive big boxes. Industry experts say the weakest locations could stay vacant for years.
J.C. Penney will close 18 department stores this year, reports the Wall Street Journal. The New York Times looks at how Airbnb is viewed around the world. These are among today’s must reads from around the commercial real estate industry.
