Good morning, investors! In today’s real estate news, retailers don’t always win when their competitors lose, how autonomous cars will impact commercial real estate, and tertiary markets find themselves in a lending bind.
With Dick’s Sporting Goods opening 60 new stores this year, and its competitors’ closing theirs, many investors assumed the company would see impressive sales spikes. Instead, Dick’s offered shareholders lukewarm predictions for their quarterly sales. When retail giants shutter their stores, their rivals just get more of a shrinking pie.