A Quick Trip
We wanted a mental getaway from the polar vortex (and were sure you feel the same), so we asked for your vacation pics. DK Mallon SVP and managing director Mike Mallon and his wife Nancy celebrated the New Year at the Rose Bowl watching Michigan State beat Stanford 24-20. (Congrats to the Spartans for repping the Big Ten in style.) The grocery guru predicts significant changes in the sector this year, catalyzed by Dominicks' exit from the market. Look out for independent grocers (the No. 2 market leader in Chicago behind Jewel) to take over a sizable number of those stores, he adds. (Read more of Mike's musings here.)
Essex Realty Group principal Jim Darrow and his 12-year-old daughter jetted off to a three-day surf school in Sayulita, Mexico to celebrate her birthday, he tells us. They surfed Sayulita, Punta Mita, and beautiful Platanitos (incredibly remote with great waves). It was 85 degrees and sunny each day of the trip, and Jim wishes they were there now catching a tasty wave and working on their tans instead of freezing in Chiberia. Jim predicts full steam ahead for mutlifamily this year, though lately good product (well located, renovated, latest amenities) has been in short supply. Buyers and owners are most concerned about property tax changes in the next couple years, given government budget difficulties, he adds.