National Commercial Real Estate News From CoStar Group
Wal-Mart, Target Roll Out Smaller Urban Store Formats to Do Battle with Dollar, Drug Store Rivals
The latest growth strategy at Wal-Mart's Stores is to get bigger by getting smaller.
After building the world’s largest retail platform by opening superstores in every major U.S. market, Wal-Mart is doubling down on a strategy of opening new stores that are a fraction of the chain's traditional size, targeting densly populated urban areas where demographics increasingly show more people prefer to work and live.
The Bentonville, AR-based retailer...
$500M MOB Sale Propels Another Solid Year for Health Care Real Estate
Washington REIT (NYSE: WRE) is exiting the medical office business, contracting to sell its MOB portfolio along with two office buildings in the greater Washington, D.C. area in four separate agreements to a single buyer for a combined $500.75M, or $329 per square foot.
WRIT, a diversified REIT which is paring its portfolio to refocus on its core office, apartment and retail assets, had been marketing the properties -- described as the largest...