A $100 Billion Wealth Migration Tilts US Economy’s Center of Gravity South
Some 2.2 million people moved to the Southeast in just over two years. That’s roughly the population of Houston. Drive along the 240-mile stretch of the Atlantic coast from Charleston, South Carolina, through the grassy marsh land of southern Georgia and down into northern Florida, and you’ll see one of the most profound economic shifts in the […]
Online-Only Startups Adopt a Bold New Strategy: Opening Actual Shops
Warby Parker’s business plan was to cut out the middlemen and sell directly to customers. That included avoiding landlords and their demands for long, expensive leases. Selling online was the cheapest way to reach as many customers as possible, as quickly as possible. And the founders were full-time business-school students, leery of borrowing money to build out […]
The Decline of the Five-Day Commute Is a Boon to Suburban Retail
A growing number of retailers in city office districts are relocating their businesses to the suburbs, where visits to shopping centers are on the rise as fewer people commute to downtown workplaces. With average office usage rates still only around half of where they stood before the pandemic in many major cities, many bars, restaurants and other retailers that […]
Leading Global Bedding Company Tempur Sealy to Acquire Mattress Firm, the Nation’s Largest Mattress Specialty Retailer
Tempur Sealy International, Inc. (NYSE: TPX, “Company” or “Tempur Sealy”) and Mattress Firm Group Inc. (“Mattress Firm’) today announced that Tempur Sealy has signed a definitive agreement to acquire Mattress Firm, the nation’s largest mattress specialty retailer, in a cash and stock transaction valued at approximately $4.0 billion.
Small Towns Chase America’s $3 Trillion Climate Gold Rush
The Inflation Reduction Act demands a leap of faith from communities around the country that are committing significant local resources in hopes of attracting new industry.
Shift to EVs Triggers Biggest Auto-Factory Building Boom in Decades
The U.S. auto industry is entering one of its biggest factory-building booms in years, a surge of spending largely driven by the shift to electric vehicles and new federal subsidies aimed at boosting U.S. battery manufacturing. Through November, about $33 billion in new auto-factory investment has been pledged in the U.S., including money for the […]
Retail Real Estate Is Enjoying Its Biggest Revival in Years
Bricks-and-mortar store owners are emerging from the pandemic with surprising strength, posting some of their best numbers in years and plotting expansions as more Americans venture out to buy things again. U.S. retail vacancy fell to 6.1% in the second quarter, the lowest level in at least 15 years, while asking rents for U.S. shopping […]
The Motor City is moving south as EVs change the automotive industry
Jack Weaver can point to a cannon on a Civil War battlefield from the comfort of a shaded bench in his backyard — a visible marker of his land’s rich past. As he speaks about his small town, it’s over the loud rumble of cars and trucks at the intersection in front of his farmhouse red […]
Private Investors Buy Up Retail Real Estate as Bigger Players Remain Cautious
Private investors are snapping up shopping centers and other bricks-and-mortar real estate, a bullish sign for the beleaguered retail property sector as it emerges stronger than expected from the Covid-19 pandemic. While many real-estate investment trusts and other big players remain cautious, retail property sales are increasing to family offices, wealthy individuals and small private […]
Caterpillar to Move Global Headquarters to Texas From Illinois
Caterpillar Inc. CAT -0.54%▼ is decamping to Texas from its longtime Illinois base, joining other major U.S. companies weighing hiring and costs as they work to move past the continuing Covid-19 pandemic. The maker of construction and mining equipment said Tuesday that its existing office in Irving, Texas, a suburb of Dallas, would serve as […]