Experiences. That’s what retailers have to sell today to keep their brick-and-mortar shops thriving, at least according to the experts. But what is experiential retail, really? A new report from Cushman & Wakefield argues that the seemingly humble pop-up store is a prime example. As the name suggests, pop-up stores pop up, they show up briefly, usually to promote a new product or business line and then disappear again. Their temporary nature makes them exciting and often draws big crowds. Both big and small brand names have dipped into the pop-up experience to boost their sales or launch a new product line. Cushman & Wakefield in its special report on pop-up stores – titled Pop-Up-A-Palooza – says that pop-up stores today feature some of the most interesting retail innovations. As the report says, if you want a clue as to what some of the top tenants of tomorrow will be, you should study the pop-up space today. Traditionally, pop-up stores sprang up around the holidays. Think Hickory Farms selling sausage and cheese from pop-up stores every Christmas. Cushman & Wakefield said that Hickory Farms will run about 650 pop-ups this year, mostly in the form of mall kiosks. Halloween has also been a big-time for pop-up stores. Click to read more at www.rejournals.com.

Looking ahead at 2020, property managers and multifamily operators certainly have their hands full with the ongoing challenges of onboarding new technology, the struggle for solid on-site talent, and streamlining package management. As the industry continues to evolve with the start of a new decade, operators can stand out and take pride in their properties with opportunities for a higher level of service, clear and frequent communication, and a foundation of personalized customer service. We’re taking a moment to explore the emerging trends shaping multifamily property management next year. Here are five trends to watch in multifamily for 2020: Performance Starts with People. Finding and retaining talent will remain a top priority for multifamily in 2020, particularly on the maintenance side. In 2019, turnover was up for nearly every role with leasing professionals and maintenance technicians topping out with a turnover rate of 20% and 22%, respectively, according to recent benchmark reports from Grace Hill. Due in part to the transient nature of the younger generation, the cost of turnover and hiring qualified teams continues to accelerate faster than inflation. Click to read more at www.multifamilyexecutive.com.

Third Quarter: Texas’ economy remained healthy in the longest U.S. economic expansion on record. Payroll growth slowed, but unemployment rates hovered at historical lows. Average hourly earnings failed to make positive headway after adjusting for inflation; second-quarter real income per capita, however, increased. Retail sales improved, but overall perceptions were tainted by political and trade-related concerns. Energy prices remained low amid record-breaking production and lowered expectations of global demand in 2020. Escalating trade tensions, political uncertainty, and the slowing world economy continue to be the largest headwinds to the current business-cycle expansion. For additional commentary and statistics, see Outlook for the Texas Economy. The Texas Nonresidential Construction Coincident Index, which measures current construction activity, indicates further expansion. However, the Texas Nonresidential Construction Leading Indicator, which measures potential future construction activity, suggests activity may slow going forward due to a decline in construction values even though commercial loans registered growth as interest rates have fallen. Click to read more at www.recenter.com.

Don’t expect much if any slowdown in multifamily sales next year. According to a recent survey, multifamily professionals are ready to add to their apartment portfolios in 2020. The survey from Capital One found that 74 percent of multifamily professionals said that they would primarily be buyers instead of sellers in 2020. Just 19 percent said that they would primarily be sellers next year. The survey also had some good news for the Midwest: It indicates that investors are targeting multifamily properties throughout the region. Survey respondents said that secondary or tertiary markets offer the greatest opportunity in the year ahead. Capital One said that 40 percent of participants cited these markets as being areas of opportunity in 2020, with an additional 22 percent saying that urban markets presented the strongest opportunity and 15 percent saying the same for suburban markets. Multifamily pros expect 2020 to be a strong year for this sector, too. Only 9 percent of multifamily professionals surveyed predicted less opportunity in 2020. “Though the market prognosis was unclear earlier this year, the multifamily community is now more confident there will be a strong level of opportunity in 2020, even in the midst of potential changes brought on by issues like rent control,” said Jeff Lee, president of Capital One Multifamily Finance, in a statement. Click to read more at www.rejournals.com.