Commercial Real Estate & Business News – July 24, 2024

The first half of 2024 has been strong for CMBS, with domestic private-label issuance totaling $42.29 billion, according to Trepp. That is almost three times the $16.47 billion the same period in 2023 saw. It’s also up from $24.6 billion in the first quarte…»

After delivering over 10 million square feet of industrial product last quarter, Phoenix continues to be a hotspot for industrial development and currently ranks first in the U.S. for active projects with 37 million square feet currently underway, as highlighted in LGE Design Build’s Q3 Construction Delivery Outlook report…»

Last month, Big Lots CEO Bruce Thorn told investors the company was “moving quickly and aggressively” to solidify its position “as America’s discount home store.” Then just a week later, the retailer reported it was closing as many as 40 locations and might have to cease operations…»

Twelve Arizona Big Lots locations will close as the company struggles with a tough consumer market. In a filing to the U.S. Securities and Exchange Commission in early July, the discount retailer said it planned to close 35 to 40 stores this year and open three. The company reported…»

Dirt is moving on an East Valley project that’s been about five years in the works.

Northside at SanTan Village — a rising development between Williams Field and Ray roads in Gilbert — will transform about 20 acres with new restaurants, retail and a hotel. Developers Okland Capital and…»