With a revamped board in place, the Jersey City, N.J.-based REIT can now concentrate more fully on its path forward. On June 12, Mack-Cali said its board would form a committee of independent directors to examine strategic alternatives, including a sale of the company or of certain assets. Those assets are anchored by waterfront office and multifamily properties in Jersey City, a short ferry ride across the Hudson River from Manhattan.
U.S. real estate executives continue to feel optimistic about the industry’s prospects in 2019, according to the results of the 2019 U.S. Real Estate Sector Report released this week by the national law firm Akerman LLP.
Walton Group of Companies sold investors on the idea of rural properties outside fast-growing cities such as Phoenix and Atlanta. But the promised returns never materialized.
Amazon loses some of its U.S. e-commerce market share, according to Bloomberg. U.S retail sales increased in May, easing fears of an economic slowdown in the second quarter, reports CNBC. These are among today's must reads from around the commercial real estate industry.
