Commercial Real Estate & Business News April 1, 2019

West Valley Lags in Office Development but Primed for Growth
For decades, the East Valley has been dominant over the West Valley in spec office building, but experts say they are seeing that changing, and Loop 101 will be the key to its growth. According to a report from JLL, a property consultancy company, the southeast Valley market had 11.7 million square feet of Class A inventory with a vacancy rate…»
Demand for Workforce Housing to Remain Strong in 2019
Strong demand for workforce housing should continue in 2019, boosting investment in the sector, according to industry experts. As the unemployment rate keeps falling, new households form, boosting demand for apartments, particularly for workforce housing, as it offers inexpensive housing options, according to John Sebree, director of…»
Tempe, Chandler are the Present and Close Future of Office Development
The East Valley has always been popular with large, national corporations looking for office space. Scottsdale and Northeast Phoenix hold the most cachet, but in recent years, more major corporations have chosen to locate in Tempe and Chandler. Overall, the East Valley has bounced back from the Great Recession, with speculative…»
Chain Retailers Piggy-Back on the Health and Wellness Sector to Draw Foot Traffic
Who would have thought just a few years ago that shoppers could walk into a DSW store and not only buy a new pair of sandals or heels, but also get pedicure or manicure? Or that consumers could drop in at their local CVS drugstore for a weekly yoga class? But big, national retailers are piggy-backing on the red-hot health and wellness sector to…»
Watch Out for These Sale-Lease Back Challenges
Retail sale-leasebacks are rising in popularity this year. Retailers are looking to unlock capital tied in real estate assets, and are using the structure as a way to optimize their portfolio. However, there are some challenges to watch out for when executing a sale-leaseback strategy, for both brokers and retailers. To start, brokers need to…»