Commercial Real Estate & Business News – April 19, 2017

Construction cranes crowd the skies over cities like New York and Los Angeles, as apartment developers build as many new units as they can. But strong demand for apartments continues to fill most new properties. …»
Northfield, Illinois-based Medline Industries Inc. is opening a 630,000-square-foot distribution center in west Phoenix. The 4-story building at 8787 W. Buckeye Road sits on 36 acres, and was built by McShane Construction and designed by Ware-Macomb. The 37-foot tall facility stores more than 350,000 medical devices…»

EXHIBIT 1: Uber is expanding the number of states that will embrace its next-generation service concept: driverless cars. EXHIBIT 2: Autonomous deliveries are currently being road tested, with Budweiser paving the way in October 2016 with an autonomous delivery…»

Even without the lift from seasonal visitors, Arizona’s economy has been humming lately from above-average retail sales and rising employment, an economist reported Wednesday. Arizona retail sales tracked by Visa Inc., excluding vehicles, jumped 8.6 percent in March, compared with about 6 percent for the nation…»
Privately held rue21 inc., a leading mall-based teen specialty apparel retailer, confirmed on its website and Facebook page that it is closing stores as part of plan to turn more attention to its online business. The chain operates about 1,200 stores across the country…»