Commercial Real Estate & Business News – April 16, 2021

Kimco Realty Corp. KIM, +2.31% announced Thursday an agreement to buy Weingarten Realty Investors WRI, +12.55% in a cash and stock deal that values the owner of grocery-anchored shopping centers at about $3.9 billion. Kimco’s stock was up 0.2% in premarket trading and Weingarten shares are still…»
A joint venture that includes Los Angeles developer Barker Pacific Group has sold the Mesa Tower in Mesa, Arizona, for $39.5 million, the highest total price on record paid for an office building in the Phoenix suburb. The venture, which also includes Washington, D.C.-based private equity firm Iron Point Partners, sold…»
Americans are moving into Idaho, and Idaho is moving up—in the ranking of most popular 2019 moving destinations, that is. Arizona is the third-most-popular inbound state. According to the results of United Van Lines’ 43rd Annual National Movers Study, which tracks customers’ state-to-state migration patterns…»
RED Development is welcoming four new tenants, including two brand-new concepts, to CityScape Phoenix ranging from an upscale bourbon bar and quick serve, grab-and-go healthy restaurant to a nutrition store and bike shop that celebrates the city’s cycling-friendly style. Now open, the popular Southern…»
Legal sports gambling in Arizona is expected to draw more than $3 billion a year in bets and generate more than $200 million a year in revenue for sportsbooks once the market is fully up and running, according to an estimate from a national analyst. Sportsbooks could launch in Arizona this year thanks to…»