Commercial Real Estate & Business News – July 16, 2024

Retail sales increased in June compared to last year, signaling that the economy is “still solid” and that inflation is cooling. Core retail sales (excluding restaurants, automobiles and gasoline) rose 0.3% month-over-month in June and were up 3.07% year-over-year, according to the CNBC/NRF Retail Monitor…»

Virgin Galactic Holdings announced the completion of its new spaceship manufacturing facility in Mesa, where final assembly of its next-generation Delta spaceships is scheduled to take place starting in Q1 2025.  An initial team of Virgin Galactic technical operations and manufacturing…»

Phoenix-based Arizona Land Consulting has proposed a new mixed-use project across 72 acres in Buckeye that’s part of an overall master plan called Copper Falls. A general plan amendment was approved by the city of Buckeye for the 72 acres in June, paving the way for a development comprising…»

Arizona’s aerospace industry has long been a critical sector for the state, with the Aeronautical Repair Station Association ranking Arizona among the top two for aviation maintenance economic activity. While Greater Phoenix and Tucson are home to many companies in the sector, Pinal County has seen a recent …»

Builders obtained permits to construct 13 multifamily housing units for every 10,000 people in the U.S. year to date, down nearly 30% from an average of 18 during the same periods in 2021-2023, immediately following the pandemic. That’s according to a new report from Redfin, which analyzed Census Bureau data…»