Commercial Real Estate & Business News April 15, 2019

Hiring Spree by Some Retailers Shows It’s Not All Gloom and Doom for Sector Although the retail sector remains under pressure – evident by the spate of store closures and announcements since the start of the year – the job losses across the industry have not been severe, says Ken McCarthy, principal economist and senior managing director at Cushman & Wakefield. In fact, some retailers are in an aggressive hiring…»

Foreign Investors Continue to Prefer Industrial Assets, Latest AFIRE Survey Reveals
Once again in 2019, foreign investors in U.S. commercial real estate indicated they would most like to increase their allocations to industrial properties, according to this year’s survey by the Association of Foreign Real Estate Professionals (AFIRE), an organization promoting cross-border real estate investment. Seventy-nine percent of 2019 survey participants said…»

Aldi Update: The Latest on the Discount Grocery Chain’s Plans Across Metro Phoenix
Discount grocery store Aldi is moving forward on bringing its national expansion to metro Phoenix – but it’s unclear if any stores would open this year. A city spokeswoman for Buckeye says the store planned there will wait until after an Aldi distribution center opens in neighboring Goodyear. That’s expected in 2020. The chain, popular in other areas of the…»

New City Hall, Class A Office Planned in West Valley City
The city of Goodyear and Globe Corp., a Scottsdale-based developer, have taken the first step to partner in what the city hopes will be a catalyst for more West Valley development.At its April 8 meeting, the Goodyear council approved a letter of intent to enter into a public-private partnership with Globe to create a new city hall, community gathering…»

Opportunity Zones Have Investors Excited. So Why Aren’t More Buying In?
When it comes to Opportunity Zones, investors are excited about the potential for tremendous tax savings, but many are not buying in just yet. What’s the problem? Lingering questions about how, exactly, Opportunity Zones work have left investors feeling gun shy. The Department of the Treasury is tasked with issuing the…»