Commercial Real Estate & Business News – August 25, 2021

The United States is well on a path of recovery from the COVID-19 pandemic shutdown that began in March 2020. More than 60 percent of the U.S. population has now received at least one dose of the vaccine, and more than half are fully vaccinated. Those figures increase significantly by age, particularly for the…»

The latest NAIOP Industrial Demand Forecast notes that nearly 100 million square feet of new industrial space has been completed so far this year, and it’s still not enough to meet the demand.According to the report, 450 million square feet is under construction and another 450 million square feet is…»

Apartment construction remains strong this year: More than 330,000 new rental units are expected to be delivered nationwide, which is comparable to the previous four years of construction boom. And, despite challenges brought forth by the pandemic, eight metros are expected to hit five-year highs of…»

Boosted by increased store traffic, Target Corp. generated strong net and comparable sales growth in its fiscal 2021 second quarter, atop big pandemic-fueled gains a year earlier.Net sales for the quarter ended July 31 came in at $24.83 billion, up 9.4% from $22.7 billion a year ago, Minneapolis-based Target said…»

ScanlanKemperBard has acquired Chandler Business Center, a 106,892-square-foot flex/industrial park in Chandler, Ariz. Fullerton Properties previously owned the property, according to Commercial Edge data. The asset last changed hands in 2019, when the current seller bought it for $13.2 million from…»