Industry News

Walgreens Boots Alliance is set to go private in a $10 billion buyout by Sycamore Partners, aiming to bolster its turnaround amid store closures and industry-wide pressures. The deal, which could reach $23.7 billion with debt, reflects broader challenges facing pharmacies like Rite Aid and CVS.

Rising interest rates have significantly reduced 1031 exchange transactions, with deal volume dropping to $11.9 billion in 2023, the lowest level since 2012. The Federal Reserve’s aggressive rate hikes, which peaked at 5.33% in August 2023, led to increased borrowing costs and slowed investment activity.

Blackstone is finalizing a $4 billion acquisition of Retail Opportunity Investments Corp. (ROIC), a REIT specializing in grocery-anchored shopping centers. The deal will be backed by a commercial mortgage-backed securities (CMBS) loan, reflecting strong investor demand for necessity-based retail as interest rates stabilize.

Following Party City’s Chapter 11 bankruptcy and liquidation, Dollar Tree and Five Below emerged as the top bidders for the retailer’s store leases. While the auction secured bids for around 250 locations, nearly 700 leases remained available, highlighting ongoing challenges in filling vacant retail spaces.

Kohl’s has announced plans to close 27 stores across 15 states and an e-commerce fulfillment center in San Bernardino, California, by mid-2025. This move comes as the retail giant grapples with ongoing challenges in a competitive and evolving industry landscape.

Walgreens has announced plans to close 12 stores in San Francisco next month as part of its effort to control rising costs and streamline operations. This move is part of a broader nationwide plan to close 1,200 underperforming stores over the next three years.