Monday Market Update
By Amy Calandrino, Beyond Commercial
We’re thrilled to announce a significant milestone at Beyond Commercial: Amy has successfully completed her 175th deal (excluding renewals), representing the landlord in a recent transaction with Dr. Walker. This accomplishment underscores our commitment to excellence and client satisfaction in the commercial real estate market.
Orlando International Airport is expected to see a record 2 million travelers this Thanksgiving holiday. While this indicates a bustling travel season, a report from aGamble.com reveals a downside: Orlando’s airport is ranked as the second-worst in the U.S. for delays and cancellations, with a 27.1% delay and cancellation rate during the holiday period, jumping to 50% between December and New Year’s Day. This could impact local businesses and real estate, particularly those reliant on timely arrivals of goods and clients.
Retailers nationwide are approaching this Black Friday with caution. Companies like Tapestry, BJ’s Wholesale Club, Best Buy, and Nordstrom have issued conservative or disappointing fourth-quarter outlooks. Factors like persistent inflation, reduced demand for basic goods, and macroeconomic uncertainties have led to a less optimistic forecast for the holiday shopping season. Even retailers like Dick’s Sporting Goods and Abercrombie & Fitch, despite strong third quarters, have given subdued holiday forecasts. This cautious stance is a reflection of the challenges facing consumers, including higher interest rates and reduced discretionary income, potentially signaling a slower holiday season for retail and influencing economic trends that can impact the commercial real estate market.
Thanks for tuning in. See you next week.