Daily NAPTA Update 01.17.2024

Posted by Diane Macri | Jan 17, 2024 | 0 Comments

Office REIT's Stock Tanks After Cutting Dividend To 1 Cent 


Shares of real estate investment trust Office Properties Income Trust lost more than 40% of their value in the aftermath of announcing that it would reduce its shareholder dividend to pennies. The REIT has slashed its quarterly dividend to 1 cent per share in an effort to shore up liquidity, MarketWatch reported. Its dividend was 55 cents per share as recently as the first quarter of 2023.

Record Amount Of Life Sciences Space To Be Delivered This Year Amid Industry Slowdown


Life sciences development is expected to hit a new record in 2024, a year after the biotech sector, by some measures, experienced its sharpest downturn this century. This year, 21.3M SF of life sciences-dedicated real estate is set to be delivered in the 13 largest markets in the country, according to new data from CBRE 2024. That figure is up from 13.9M SF in 2023 and 5.6M SF in 2022.

How The Midwest Was Won: Nation’s Midsection Enjoys Best Rent Growth In The Country


The Midwestern multifamily market is roaring back to relevance after a period of pandemic hibernation, with marked increases in rent growth and occupancy upticks offering a sharp contrast to softening rental conditions in previously hot metros around the country. “It was like someone turned the switch on who came out of nowhere,” Finger Cos. Executive Vice President Hunter Wagner said.

DFW Retail Centers Haven't Been This Full In 42 Years, New Report Shows


Retail in the Metroplex set a new record in 2023 as a dearth of new construction and rebounding tenant demand converged to create the highest occupancy in 42 years. Dallas-Fort Worth shopping centers of 25K SF or more were 95.2% occupied at the beginning of 2024, slightly outpacing the previous occupancy record of 94.8% in 1981, according to data shared at Weitzman's annual forecast event today.

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