Sun Belt

Red Roof® Kicks-Off Holiday Season with Week-Long Black Friday and Cyber Monday Flash Sale

Retrieved on: 
Monday, November 20, 2023

This year, Red Roof is once again offering a week-long Black Friday flash sale , starting on Monday, November 20.

Key Points: 
  • This year, Red Roof is once again offering a week-long Black Friday flash sale , starting on Monday, November 20.
  • Travelers who make a reservation at any Red Roof Inn®, Red Roof PLUS+®, HomeTowne Studios by Red Roof®, or The Red Collection® property from November 20 through November 27, 2023, and stay between November 20, 2023, through February 29, 2024, will save 20% off their stay*.
  • And because no family member should be left behind, pets stay free at Red Roof**.
  • In addition to the savings travelers receive during the Red Roof Black Friday flash sale, Red Roof RediRewards® members always save on every Red Roof visit, year-round.

Multifamily Rents Fall Again in October, Reports Yardi Matrix

Retrieved on: 
Wednesday, November 15, 2023

SANTA BARBARA, Calif., Nov. 15, 2023 /PRNewswire/ -- Multifamily fundamentals continued to soften and impact rents last month, according to the latest Yardi® Matrix National Multifamily Report.

Key Points: 
  • SANTA BARBARA, Calif., Nov. 15, 2023 /PRNewswire/ -- Multifamily fundamentals continued to soften and impact rents last month, according to the latest Yardi® Matrix National Multifamily Report .
  • Asking rents declined in the Lifestyle property segment, down 0.4 percent in October, while Renter-by-Necessity rents remained flat.
  • Gain more insight in the new Yardi Matrix National Multifamily Report.
  • Yardi Matrix covers multifamily, student housing, vacant land, industrial, office, retail and self storage property types.

EastGroup Properties Announces Recent Business Activity and Participation in Upcoming Conference

Retrieved on: 
Thursday, November 9, 2023

JACKSON, Miss., Nov. 9, 2023 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today its recent business activity.

Key Points: 
  • JACKSON, Miss., Nov. 9, 2023 /PRNewswire/ -- EastGroup Properties, Inc. (NYSE: EGP) (the "Company", "we", "us" or "EastGroup") announced today its recent business activity.
  • Commenting on the Company's activity, Marshall Loeb, CEO, stated, "Our portfolio remains highly leased and resilient in a volatile environment.
  • In November, EastGroup acquired Park at Myatt in Nashville, Tennessee, which represents the Company's first acquisition in this market.
  • During the conference, EastGroup executives may discuss the Company's transaction activity, leasing environment, market trends and conditions, financial matters and other business that may be affecting the Company.

Investor Home Purchases Are Down Over 40% in Sun Belt Pandemic Boomtowns

Retrieved on: 
Thursday, November 9, 2023

The seven metros where investor purchases declined fastest are all in the Sun Belt.

Key Points: 
  • The seven metros where investor purchases declined fastest are all in the Sun Belt.
  • Because investor purchases in the region jumped so dramatically, they now have relatively more room to fall.
  • Appetite for homes in many Sun Belt metros has also cooled because so many buyers have been priced out.
  • Low-priced homes made up 45.2% of investor purchases in the third quarter, up from 42.5% a year earlier.

Redfin Reports U.S. Asking Rents Remained Sluggish in October Amid Rising Vacancy Rate

Retrieved on: 
Wednesday, November 8, 2023

October marked the seventh straight month in which the median asking rent was little changed from a year earlier.

Key Points: 
  • October marked the seventh straight month in which the median asking rent was little changed from a year earlier.
  • “Rents in Phoenix have pulled back,” said local Redfin Premier real estate agent Heather Mahmood-Corley .
  • That’s the reverse of what’s happening in the for-sale housing market, where prices are rising due to an inventory shortage.
  • The median asking rent in October remained 20.8% higher than it was in October 2019, before the pandemic.

Franklin Street Properties Corp. Announces Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023

Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”) (NYSE American: FSP), a real estate investment trust (REIT), announced its results for the third quarter ended September 30, 2023.

Key Points: 
  • Franklin Street Properties Corp. (the “Company”, “FSP”, “we” or “our”) (NYSE American: FSP), a real estate investment trust (REIT), announced its results for the third quarter ended September 30, 2023.
  • We remain committed to seeking to sell select properties during 2023 and using proceeds primarily for debt reduction.
  • Today’s news release, along with other news about Franklin Street Properties Corp., is available on the Internet at www.fspreit.com .
  • A conference call is scheduled for November 8, 2023, at 11:00 a.m. (ET) to discuss the third quarter 2023 results.

Toll Brothers Campus Living and The Davis Companies Joint Venture to Develop 680-Bed Luxury Student Housing Community in Orlando, Florida

Retrieved on: 
Tuesday, November 7, 2023

Toll Brothers Campus Living develops communities that combine modern amenities and strategic community design to fit the needs and lifestyle of students.

Key Points: 
  • Toll Brothers Campus Living develops communities that combine modern amenities and strategic community design to fit the needs and lifestyle of students.
  • Toll Brothers Campus Living will manage the property’s development, construction, and asset management, as well as handle marketing and leasing in partnership with Davis.
  • John McCullough, President of Toll Brothers Apartment Living, said, “We are excited to expand our student housing presence in Florida with the development of Aperture near the University of Central Florida.
  • “We are confident that our expanding portfolio of student housing developments will provide key value for our investors and are glad to continue our long-term partnership with Toll Brothers through the delivery of this best-in-class student residence.”
    Aperture is the second Toll Brothers multifamily project in Florida and joins the growing Toll Brothers Campus Living student housing portfolio nationwide.

Black Rock Coffee Bar Maintains its Steady Growth in Arizona: Opens Fourth Store in Gilbert and 37th in the State

Retrieved on: 
Monday, November 6, 2023

Scheduled to welcome customers on Friday, November 10,, 2023, the new Black Rock Coffee Bar is located at 875 South Gilbert Road, Suite 105 in Gilbert.

Key Points: 
  • Scheduled to welcome customers on Friday, November 10,, 2023, the new Black Rock Coffee Bar is located at 875 South Gilbert Road, Suite 105 in Gilbert.
  • “Gilbert is a great place for young professionals and families,” said Mark Davis, CEO Black Rock Coffee Bar.
  • “We’ve always felt a connection to Gilbert and look forward to serving this thriving community.”
    The new 2000-square-foot Black Rock Coffee Bar store showcases the boutique coffee chains’ signature industrial modern design.
  • In 2023, Black Rock Coffee Bar ranked 1179th among America’s Fastest-Growing Private Companies by Inc. Magazine’s 5000 Annual List.

Black Rock Coffee Bar Unveils its 2023 Winter Drink Menu for the Holiday Season

Retrieved on: 
Tuesday, October 31, 2023

Portland, Oregon, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Black Rock Coffee Bar, a national boutique coffee chain, has announced its winter drink menu for the 2023 holiday season, available at all 100-plus store locations across seven states, including OR, WA, AZ, CA, ID, CO, and TX.

Key Points: 
  • Portland, Oregon, Oct. 31, 2023 (GLOBE NEWSWIRE) -- Black Rock Coffee Bar, a national boutique coffee chain, has announced its winter drink menu for the 2023 holiday season, available at all 100-plus store locations across seven states, including OR, WA, AZ, CA, ID, CO, and TX.
  • This year, Black Rock Coffee Bar presents a delightful array of Winter Wonder beverages, available in iced, hot or blended options.
  • Following is Black Rock Coffee Bar’s winter lineup:
    Peppermint Bark White Mocha – This refreshing and spirit-lifting drink is an absolute fan favorite during the winter season.
  • In 2023, Black Rock Coffee Bar ranked 1179th among America’s Fastest-Growing Private Companies by Inc. Magazine’s 5000 Annual List.

GE Vernova Chooses Piedmont’s Atlanta Galleria for New Strategic Hub

Retrieved on: 
Monday, October 30, 2023

The company has selected 600 Galleria Parkway, a LEED-Gold designated property and one of five buildings owned by Piedmont in Atlanta’s Galleria on the Park, as one of its strategic U.S. locations.

Key Points: 
  • The company has selected 600 Galleria Parkway, a LEED-Gold designated property and one of five buildings owned by Piedmont in Atlanta’s Galleria on the Park, as one of its strategic U.S. locations.
  • "We are thrilled to welcome a world class company such as GE Vernova to Galleria on the Park,” said Alex Valente, Executive Vice President for Piedmont’s Southeast region.
  • Including this lease, we have signed almost 800,000 square feet of new tenant leases at Galleria on the Park since 2020, including 10 new corporate or regional relocations.
  • Piedmont focuses on building amenity-rich office environments (experiences) similar to Atlanta’s Galleria on the Park throughout its portfolio.