FIRST DRAFT LIVE: America’s Shopping Surge Meets Retail’s Reality Check

December 5, 2025 / no comments

Bisnow’s First Draft Live is a weekly series featuring live conversations about the critical stories impacting CRE right now — from market volatility and economic uncertainty to the growing influence of artificial intelligence. First Draft Live is a companion to The First Draft, Bisnow’s daily, flagship CRE newsletter. Register here to get The First Draft in your inbox. Subscribe to First Draft Live on Apple and Spotify, or scroll down to view in your browser. 

Kroger To Pay $350M To Close Robotic Warehouses, Plans Fulfillment Shift To Stores

December 5, 2025 / no comments

The Kroger Co. is pulling back from developing a network of automated e-commerce fulfillment centers and will instead focus on expanding its brick-and-mortar grocery store network.  
The grocery chain announced it would close three of its eight robotics-powered fulfillment centers. The centers marked for closure are in Groveland, Florida, Pleasant Prairie, Wisconsin, and Frederick, Maryland. 
The company has also scrapped plans for another fulfillment center in Charlotte but will still build a previously planned fulfillment center in Phoenix.

SL Green buys partner out of $190M Third Avenue tower

December 5, 2025 / no comments

SL Green bought out its partner at 800 Third Avenue in a deal that values the 41-story office tower at $190 million. The Marc Holliday-led REIT bought the 39.5 percent stake in the 1970s-era office building from Larry Wohl’s Joseph P. Day, the company announced Friday. SL Green now owns 100 percent of the 750,000-square-foot property. Along with the buyout, the company modified and extended the tower’s $177 million mortgage. Chief Investment Officer Harry Sitomer said the transactions exemplify SL Green’s long-term outlook on what the real estate firm considers to be well-located Midtown Manhattan assets. “We continue to see […]

This article originally appeared on The Real Deal. Click here to read the full story.