Commercial Real Estate & Business News August 1, 2019

Fed Approves its First Rate Cut Since 2008, Dow Plunges as Chairman Powell Speaks The Federal Reserve cut its key interest rate by one-quarter of a percentage point Wednesday, marking the first such reduction in 11 years and providing an extra boost to the domestic economy as it faces the headwinds of a global economic slowdown. Wall Street, which had both favored and anticipated an “insurance” rate cut,…»
Phoenix Suns Owner Pays $10 Million For Land
When the Phoenix Suns made a deal with the city to renovate the Talking Stick Resort Arena, the team’s owner pledged to build a practice facility. Suns’ owner Robert Sarver will pay more than $10 million in cash for the land, according to Vizzda commercial real estate database. Documents show the cash price paid by…»
Phoenix Industrial Market Heats Up Over Second Quarter
The Greater Phoenix industrial real estate market has heated up substantially during second quarter as the city continues to lead the country in population expansion and job growth. Businesses are expanding and relocating to the metro area, fueling demand for all types of commercial real estate, especially industrial. During…»
Taylor Morrison, Mesa Homebuilder Join Forces to Tap Single-Family Rental Hybrid Market
Taylor Morrison Home Corp. is getting into the single-family rental market.The Scottsdale homebuilder has inked an exclusive strategic partnership with Mesa-based Christopher Todd Communities to build the popular hybrid rental products. These residences are a hybrid between an apartment unit and a single-family home. They typically…»
Retailers Experiment with Mini Distribution Centers in Their Stores
An increasing number of retailers are experimenting with mini distribution centers in their bricks-and-mortar locations to leverage existing physical footprints and dodge record high prices in the industrial sector. “If [retailers] are already paying rent for a space, and they don’t need 100 percent of it, could they take 25 to 30 percent, and…»