Net Takeaways with Bryn Feller

Introduction:

• BJ Feller and Isaiah Harsh open the episode with a casual conversation about Lollapalooza in Chicago.
• The hosts introduce the main topics: zombie pharmacies in NYC, unemployment and interest rates, and the impact of technology in commercial real estate.

Zombie Pharmacies in New York:

• Discussion on the New York Times article about 222 dark big-box pharmacies in NYC, with specific statistics on their distribution across boroughs.
• Analysis of the negative impact on urban retail vibrancy and sales tax revenue.
• Exploration of the rise of independent pharmacies filling the void left by major chains.

Economic and Market Updates:

• Review of the latest jobs report showing 110,000 jobs added in July, below the projected 170,000, and the potential implications for unemployment and Federal Reserve policy.
• Discussion on the drop in the 10-year Treasury yield and its impact on financing conditions in commercial real estate.
• Insights into how these economic shifts might affect cap rates, particularly in multifamily, retail, and office sectors.

Placer.ai and Real Estate Analytics:

• Debate on the growing reliance on Placer.ai data in the retail investment world.
• Concerns raised about the accuracy and overdependence on cell phone data for retail traffic analysis.
• Emphasis on the importance of considering traditional metrics like unit-level sales performance and market rent comps.

Closing Thoughts:

• The hosts conclude with a discussion on Q4 market expectations, highlighting the potential for increased deal activity due to lower interest rates.
• A light-hearted segment on favorite desserts, with a special mention of Joe's gluten-free options and RPM Steak's chocolate cake.

Listener Engagement:

• Encouragement for listeners to provide feedback and questions for future episodes.

This episode provides a comprehensive overview of current trends and challenges in the commercial real estate market, with a blend of serious analysis and entertaining banter.

• Who's got the best wings in Chicago? Isaiah puts his Upstate New York street cred to good use
• Dollar General's Big Announcement of 1000 store closure, what it means for the retail landscape
• Aldi's Big News of 800 new stores by 2028
• Walmart's plan to add 150 new large format stores over the next decade

Net Takeaways with Feller & Harf breaks down:

• The hottest restaurants from the travels in California and New Orleans
• The ICSC OAC (Outdoor Air Conference) takeaways:
  • Bullish Sentiment on Retail Leasing Outlook
  • Capital Markets Observations
• The recent news of the announcement by NYC that they will be sending state police and national guard personnel into the NYC subway systems, and what it means for the urban post-COVID recovery of America's biggest cities

On this episode of Net Takeaways with Feller and Harf, someone find Isaiah, he's missing! BJ is joined by special guest host Christian Tremblay to break down the incredible growth of the cannabis industry and its impact on the commercial real estate landscape
 

Christian Tremblay is the national leader in brokerage of cannabis occupied real estate having completed more than $250mm of volume. Christian brings that experience to the table in exploring the latest dynamics and developments in the segment and what it means for owners and occupants of the commercial real estate world. The discussion includes:

- How do licenses work, how does it very by state

- The continued legalization across the US

- Impact of potential rescheduling of cannabis federally

- Possibility of federal legislation on cannabis

On this episode of Net Takeaways, Feller & Harf discuss:

- The impact of 7-Eleven's Sunoco acquisition and what it means for the latest landscape of the convenience and gas station market. How are convenience stores changing their actions - if at all - as electric vehicles break 10% of annual sales?

- December Retail Sales & Consumer Confidence numbers are soaring, what's it mean for the commercial estate capital markets landscape as 2024 gets going

- "Last Mile Inflation" is the new buzzword, how could the path to the 2% target be slower than anticipated and what does it portend for deal making