Best Buy scopes out Richfield Township for big warehouse move
CoStar
The Best Buy flag will move to Richfield Township from a warehouse in Streetsboro. Public records say the company is the tenant for a $40 million project that is under construction near Brecksville Road and the Ohio Turnpike.
Resurgent electronics retailer Best Buy occupies a big distribution center in Streetsboro that s just 10 years old. However, Best Buy is the prospective tenant for one rising in Richfield Township that stands to double its size.
The warehouse that Becknell Industrial of Carmel, Ind., is starting to build will encompass 750,000 square feet under roof. The retailer s current operation is in a new-breed, high-ceilinged property of 368,000 square feet in size. In other words, the new building could house 13 football fields instead of a little more than six.
Corporate America Not Likely To Unwind COVID-19 Debt Buildup Despite Credit Hits
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Six trends shaping the industries and sectors we cover in 2021
15 Jan, 2021 Author Saadoon MinhasJake Mooney
S&P Global Market Intelligence offers our top picks of real estate news stories and more published throughout the week.
After an uninspiring year for real estate investment trust stocks in 2020, analysts took divergent views on the outlook for the sector in the coming year.
Analysts at Mizuho Securities USA, Janney Montgomery Scott and Jefferies all noted in forecasts that generalist and retail investors turned cool on REITs in 2020, seeing more attractive growth in other industries. The teams differed in their views of 2021, though, based in part on their expectations for interest rate movement.
Shares of Monmouth Real Estate Investment Corp. MNR,
+1.33% surged 5.9% in premarket trading Monday, after investment management firm Blackwells Capital LLC said it made an unsolicited bid to buy Monmouth in a deal that values the real estate management company at about $1.77 billion. Blackwells said it will pay $18.00 a share in cash for each Monmouth share outstanding, which is 5.9% above Friday s closing price of $16.99. The stock had rallied 12.9% since Blackwells said it privately submitted its first all-cash bid to the company on Dec. 1. As a public company, Monmouth has significantly underperformed comparable industrial REITs over the last five years, further exacerbated by the stock s lack of liquidity, said Blackwells Chief Investment Officer Jason Aintabi. For myriad and tangible reasons, Monmouth in its current state, does not belong in the public markets. Pursuing our offer is the best way to maximize value for all Monmouth shareholders. Monmouth s
5:11 pm
Monmouth Real Estate Investment with ticker code (MNR) now have 9 analysts in total covering the stock. The consensus rating is ‘Buy’. The target price ranges between 18 and 14 calculating the average target price we see 16.67. Now with the previous closing price of 15.32 this indicates there is a potential upside of 8.8%. The day 50 moving average is 14.7 while the 200 day moving average is 14.33. The company has a market cap of $1,585m. You can visit the company’s website by visiting: http://www.mreic.reit
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. We specialize in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company, whose property portfolio consists of 119 properties containing a total of approximately 23.4 million rentable square feet