U.S. Retail Sales Increased in May

Sales rose 0.5% last month, a boost to the economy this spring
The Wall Street Journal 14 June 2019 Sarah Chaney

WASHINGTON—American shoppers ramped up their spending in May, a boost to the economy this spring.

Retail sales, a measure of purchases at stores, restaurants and online, increased a seasonally adjusted 0.5% in May from a month earlier, the Commerce Department said Friday. April sales were revised to a 0.3% increase from a 0.2% decline, and retail sales excluding the volatile categories of autos and gas rose 0.5% last month, underscoring solid spending momentum.

Consumer spending is the main driver of the U.S. economy, accounting for more than two-thirds of economic output.

Strong retail-sales growth shows the economy is overall on solid footing despite trade tensions and slowing global growth. Other facets of the economy are also offering signs of resilience. The services sector, which accounts for 88% of U.S. gross domestic product, keeps expanding and unemployment is historically low.

Michelle Gass, chief executive at Kohl’s Corp., sees a healthy consumer.

“All the indications continue to be really strong in terms of unemployment, customer confidence,” Ms. Gass said in an earnings call last month.

Inflation remains tame, a dilemma for the Federal Reserve, but a positive development for Americans looking to shop.

Even as conditions remain supportive of household spending, headwinds persist. Job creation, which cooled in May, may continue to slow in the coming months as employers struggle to fill open roles. That could ultimately impede spending and broader economic growth.

Retailers could feel the squeeze from tariffs in coming months.The Trump administration slapped 25% tariffs on more than $40 billion of goods that are imported from China last month, affecting clothing, luggage, handbags and furniture, among other consumer products. In response, merchants may have to decide whether to absorb the added costs of the new tariffs themselves, spread them across their vendors or pass them on to consumers.

Friday’s report showed the rise in May spending across the economy was fairly broad-based, with gains posted in discretionary categories. Spending picked up at electronics stores, restaurants and sporting-goods shops, according to the Commerce Department report. Online retail sales grew 1.4%.

Gasoline-station sales rose 0.3% in May from the prior month.

CapRock News 12/2017

December 13, 2017 – CapRock sells Peoria apartment portfolio and hires Patrick Schenk.

CapRock commercial real estate chicago - logo
COMPANY NEWS:

ANNOUNCEMENT:

CapRock represents Asian buyer in purchase of Peoria multifamily assets.


NEW HIRE:

Patrick Schenk has joined CapRock.


REFERRAL REWARDS:

Contact us to learn how you can easily monetize your real estate network by referring business to us.



CONTACT US:

CapRock

Property Management,

Investment Sales & Leasing

  Send us an Email

Phone: (312) 257-3252

Web: www.CapRockemr.com

Address:  79 W Monroe, Suite 905, Chicago, IL  60603


SOLD: Peoria Apartments Purchased by Asian  Investor

(Peoria, IL) – CapRock is pleased to announce its representation of an Asian buyer in the recent purchase of a 33 unit apartment portfolio located on Moss Avenue in Peoria, Illinois for $1.3 Million. While not exclusively leased to students, the properties’ location between the University of Illinois Medical School and Bradley University, results in a strong student occupancy.

Brian Goldman and Saar Schnitman identified the opportunity and represented the buyer in the purchase. In order to complete the transaction, we also negotiated a release of a potentially detrimental easement over the property by the owner of the land next door.

NEW HIRE

Patrick Schenk

Associate

Property Management & Leasing           

patrick schenk - CapRock real estate

CapRock is pleased to announce that Patrick Schenk has joined the company in the Property Management & Leasing group. 

Patrick graduated from DePaul University’s Driehaus College of Business this past spring after successfully completing his degree in Real Estate Finance. Patrick comes to us from The Walsh Group and will be initially working on property management and leasing.

Please note:  This is an opt-in newsletter and is only received by those who joined it or have had interactions with CapRock EMR.  CapRock EMR respects your privacy and will never share your email address or any other personal information with anyone.

 

 

Railway Plaza, Naperville, IL

Railway Plaza, Naperville, ILCLIENT: PRIVATE REAL ESTATE FUND
ASSIGNMENT: Receivership, Property Management, & Leasing
STATS: 15,250 SF multi-tenant retail strip center in the far west Chicago suburbs.