In response to Amazon opening their first drive through grocery store, Walmart announced a kiosk based in Oklahoma City that lets you pick up your online groceries at any time of the day or week. Unlike the Amazon option, the Walmart kiosk uses machines to automatically fetch the items – at any time, day or night. Unlike other retailers, it looks like Walmart isn’t going down without a fight.
If you look at the new breed of retail startups, physical stores aren’t about sales but “brand experiences.” Tyler Haney, CEO of Outdoor Voices, a new athletic apparel brand, whose four stores are home to gatherings like “dog jogs,” community yoga, and brunch parties, says its stores, “Are not about revenue, but community.” That sounds a little kitchy but might be worth considering given store closings are on pace to break a 20-year record. Amazon, on the other hand, is now worth about $473 billion; more than Walmart Stores, CVS Health, Walgreens, and Target combined.
On Tuesday, a fintech company, BrickCoin, announced brickcoins, a cryptocurrency backed by real estate held by Real Estate Investment Trusts (REITs). Since the new cryptocurrency is backed by assets that are already heavily regulated, BrickCoin will likely reduce risk for its clients, provide clarity for regulators, and attract more users. This may open banks up to the idea of adopting blockchain and cryptocurrency.
Since the Great Recession, the Real Capital Analytics all-property index shows commercial real estate prices have increased by 104 percent. Typically in a time of economic expansion there is overbuilding, but we’re not seeing that currently. CRES CEO, Robert Sulentic, said, "This is unlike any cycle I have seen in my 33-year career.” He attributes this to banks tightening their lending standards, which has forced developers to become more conservative in their deals.
The marijuana grow operation’s footprint grew by 14 percent since the second quarter of 2015, and now occupies 4.2 million square feet of industrial space in the metro Denver area, according to a new report from CBRE Research. In April, the Denver City Council approved a cap on retail dispensaries and grow houses. The regulation means that for every two grow locations that are given up, the city will only issue back one permit until 15 grow locations have been eliminated from the city’s footprint.