Commercial Real Estate & Business News April 26, 2019

Opportunity Zone Regulations Throw Open Tax Benefits to New Group of Property Owners A new round of opportunity zone regulations, already a boon to property buyers seeking tax breaks, could be profitable as well for owners and tenants leasing properties in low-income areas.Before the Internal Revenue Service issued the new rules last week, the tax benefits available for investing in the federal opportunity zone areas deemed economically distressed was widely thought to fall mostly to…»
Valley Industrial Absorption, Vacancy Remain Steady in Q1
The Valley’s largest speculative industrial development since 2013 came online in the first quarter, causing industrial vacancy rates to increase slightly even as absorption kept pace with last year.The first phase of the Ten Distribution Center finished construction in March, bringing 1.1 million square feet of new spec product to the market.According to the first quarter industrial insight from JLL,…»
Phoenix Office Rents Up 10% in Q1
Phoenix is one of the fastest growing office markets in the country. In the first quarter, office rents increased 10% year-over-year, and in 2018, rents increased 4.2%, according to research from Avison Young. The first quarter marketed 23 consecutive quarters of growth as well as positive absorption. Job and population growth are behind the strong activity, and this demand will likely continue to attract new…»
Could Microsoft’s Data Centers Draw other Businesses to the West Valley?
Ask and ye shall receive.Last week, I wrote about wanting to know the extent of Microsoft Corp.’s plans for land it recently purchased in Goodyear. Up until then, the tech giant and city officials had been mum on what exactly was in the works, though speculation had focused on a data center.That speculation was confirmed, as documents made available by the city last week to a…»
Are Outlet Centers Immune to the Retail Apocalypse or are They Next?
The outlet center sector has been one of the few bright spots in the retail industry, which has been in upheaval with retail bankruptcies and store closures.Outlet centers boast brand-name retailers looking to sell overstock items and out-of-season merchandise to consumers who are looking for more bang for their dollar.”It’s the best news in the brick-and-mortar category,” says Lisa Wagner, a principal with…»