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Commercial Real Estate & Business News – April 2, 2021

The future of the suburban shopping mall could look something like a mini community, with far fewer places to shop. The U.S. mall owner Macerich announced Thursday it’s sold a majority stake in Paradise Valley Mall in Phoenix, for $100 million, to a joint venture with…»
Experiential retail is likely to deal a blow to e-commerce sales as the pandemic wanes, according to a recent analysis from S&P Global Market Intelligence. Digital sales, which spiked 33.6% in 2020, are expected to grow to $908.7 billion this year, a 13.7% year-over-year…»
PetSmart’s corporate headquarters in north Phoenix was sold to a Portland-based real estate firm for $110 million, the Valley’s highest priced office sale of 2021 so far. BPM Real Estate Group bought the campus, which includes three four-story buildings and a six-level…»
Jay Krew provides the marketplace with real estate investment services, including sale-leasebacks, traditional investment sales, owner/user sales, and leasing. Bringing extensive knowledge of the Industrial industry and an unparalleled work ethic, Jay targets…»
A Valley economist said Arizona will be in the top 10 in most economic categories, as the state continues to rebound from COVID-19 pandemic job losses. Phoenix-based consultant Jim Rounds said two-thirds of the 300,000 jobs cut have been recovered and…»