Tuesday, July 1, 2008

Meanwhile, back in retail...and law law land....

I was sad to see that Whitehall Jewelers is calling it a day. But I guess it might have been inevitable. The family of a college classmate used to own Whitehall so I always cheered it on.

On another front, you can see the latest Marcus & Millichap report on the retail market here thanks to the Sibdu Blog. Ready for it? Holding your breath? "The retail commercial real estate market is softening … amid a slumping economy, the prolonged housing downturn … and, you guessed it … the credit crunch."

Sorry, no big surprise like the Chicago office numbers yesterday. Asset sales, like most other sectors, are way down. I guess the one thing moving is self-storage. And industrial also looks relatively healthy.

Oh, one other encouraging thought: law firms are BUSY. One friend canceled lunch with me last week because work is crazy busy with deals. Another firm I know is swamped with workouts. So there's hope yet, even if lawyers think they are going to be fired....