Forever 21’s struggles are mounting as the fast-fashion retailer reportedly prepares to close its downtown Los Angeles headquarters and lay off 358 corporate employees. The company, which has been exploring bankruptcy and shuttering stores, filed a WARN notice signaling the layoffs will begin in April 2025. Remaining staff will shift to remote work as the brand seeks cost-cutting measures and strategic alternatives. Once a retail giant, Forever 21 continues to battle fierce online competition from Shein and Temu, shifting consumer trends, and financial pressures that could push it toward a second bankruptcy.

Florida Rep. Vicki Lopez is pushing for big changes in affordable housing with two new bills aimed at strengthening the Live Local Act. House Bill 923 would expand tax credits for developers, allowing them to transfer credits and secure financing earlier in the process. House Bill 943 takes a bold stance against local government restrictions by requiring municipalities to approve affordable housing projects on certain lands, overriding zoning limitations, and fast-tracking permits. These changes could open the floodgates for more affordable housing developments across Florida, making it easier for developers to build and secure funding while limiting legal challenges that slow projects down.

The retail industry is facing a wave of closures in 2025, with major chains downsizing amid financial struggles and shifting consumer habits. Macy’s, Kohl’s, Walgreens, CVS, and Joann are among the biggest names shutting down locations, while Liberated Brands (owner of Quiksilver, Billabong, and Roxy) is closing all its U.S. stores after filing for bankruptcy. Party City is also disappearing entirely, closing all 700 stores.

The Neiman Marcus flagship in downtown Dallas is set to close after more than a century, and Joann will shut down 500 stores following its bankruptcy filing. Meanwhile, Walgreens and CVS are scaling back pharmacy locations, and Macy’s is cutting underperforming stores as part of a long-term strategy. With 15,000 store closures expected this year, the retail landscape is undergoing a dramatic transformation.

The U.S. office market continued its decline in 2024, with property values dropping 11% on average as remote and hybrid work reshape demand. High-end Class A buildings saw the steepest losses at 22%, while outdated properties remain vacant, struggling to attract tenants. Central business districts (CBDs) took the hardest hit, with office prices plunging 28% in 2024 and 60% over five years.

Investors are eyeing Class B and C properties in prime locations for potential conversions, but uncertainty looms over whether the market has hit bottom. With more distressed sales and possible foreclosures on the horizon, 2025 could bring further shakeups—or the first signs of stabilization.

A magical shopping experience is coming to Chicago this spring! Opening April 10 at 676 N Michigan Ave., the new Harry Potter store will transport fans into the wizarding world with immersive attractions, exclusive merchandise, and the largest Butterbeer Bar in the U.S. Inspired by Harry Potter and the Goblet of Fire, the store’s design brings the Triwizard Tournament to life—featuring fiery broomsticks, a shimmering Golden Egg, and a maze-like floor leading to the checkout. Guests can explore the Room of Wands, indulge in wizarding sweets, and grab Chicago-exclusive collectibles. With its spellbinding design and city-inspired touches, this shop promises an unforgettable magical experience for every Potter fan!

After a post-pandemic leasing frenzy, South Florida’s office market is taking a much-needed “breath,” according to Avison Young leaders. While Miami’s office rents have soared over 50% since 2019—hitting an average of $61.49 per square foot—leasing activity has slowed, and vacancy rates have crept up.

Experts predict that while rents may flatten, a major drop isn’t expected. The market is simply following its natural cycle, Avison Young CEO Mark Rose said, emphasizing that “what goes up must come down.” With return-to-office mandates and steady demand, 2025 could still see growth, even if the pace has cooled.

St. Louis County is moving toward creating its first land bank, a move supporters say will help repurpose vacant properties and boost housing inventory. However, experts warn that the need for a land bank signals deeper issues—such as weak demand for redevelopment—which could raise concerns about the county’s long-term growth.

Meanwhile, Atlanta-based Aprio is shaking up the legal industry by launching a law firm through a merger with Radix Law under Arizona’s Alternative Business Service program. By allowing non-lawyers to be co-owners, Aprio aims to offer a one-stop shop for tax, accounting, and legal services—potentially setting a new precedent in the industry.

Retail sales took a bigger dip than expected in January, falling 0.9% after a strong holiday season, as cold weather and economic factors cooled consumer spending. This was the largest monthly decline in a year, surpassing economists’ predictions, though sales remained 4.2% higher year-over-year. Core retail sales, which exclude autos, gas, and restaurants, also dropped 0.9% month-over-month but saw a 4% annual gain.

Experts say the slowdown isn’t surprising after a robust holiday season, with weaker payroll growth and lingering inflation pressures playing a role. Sporting goods, online shopping, and auto sales saw the biggest drops, while gas stations and dining out held steady. Despite the dip, analysts remain optimistic, pointing to a stable economy and modest retail growth in 2025—though tariffs and policy shifts could shake things up.