Number Of LGBTQIA+ Bars Dropped By Almost Half Over Past 2 Decades

June 16, 2023 / no comments

The number of LGBTQIA+ bars across the country has nearly halved over the last two decades, though some pockets, including New York City, have seen increases in the past several years despite the pandemic’s devastating impact on the hospitality industry.
New York has at least 48 LGBTQIA+ bars, an increase from 36 in 2019, Gothamist reports, citing a report from Oberlin College and Conservatory professor Greggor Mattson. By contrast, the number of such bars went down 45% nationally between 2002 and 2023, per the report.
Reasons cited for the decline include the fact that safe spaces are no longer as necessary as they once were and that people…

Student Loan Payments Could Slow Retail’s Victory Lap

June 16, 2023 / no comments

Student loan repayments are slated to resume on Sept. 1, and retail landlords that have gotten used to high demand for space could feel a sting.
Approximately 17% of the U.S.’ adult population — around 43 million people — will be affected by the return of student loans, where the average student loan payment is $393 per month and the median is $222, The Wall Street Journal reported. Research suggests that retail spending could fall by as much as $10B a month as household cash flows dip. 
Apparel is the category most likely to be affected if American households suddenly have less disposable income, according…

Activist Investor Litt Says Life Sciences Space Is Suffering, Targets Alexandria In Latest Report

June 16, 2023 / no comments

Activist investor Jonathan Litt, known for shorting major office-owning REITs, is now asserting that life sciences space is as underutilized as standard office space and that valuations are going to suffer as a result.
Litt said Alexandria Real Estate Equities, a major holder of life sciences assets, is going to feel the pinch of empty space, especially as major tenant leases are up for renewal.
Litt’s hedge fund, Land & Buildings Investment Holdings, holds a short position on Alexandria, a fact he confirmed on CNBC on Thursday.
“Alexandria has got a real problem,” Litt said on the network. “There’s about 20% of new space coming…