Commercial Real Estate & Business News August 10, 2018

The old adage that “everything’s bigger in Texas” gets thrown around a lot. However, that’s not necessarily the case for Walmart as it’s testing a small-format store concept in the Dallas-Fort Worth market. The big-box retailer is building 3,000-sq.-ft. convenience stores with fuel pumps-called Walmart Fuel Station-in some parking lots of existing 180,000-sq.-ft. Walmart Supercenters that don’t already have gas pumps…»
Out-of-state investors looking to take advantage of a federal tax law on property investment fueled the sale of several Phoenix-area industrial and retail buildings during the past week. Sales of two industrial and two retail properties – part of sales involving Section 1031 of the Internal Revenue Service code – were finalized. The exchanges are deals where investors sell off one property…»
Industrious, a New York City-based coworking provider, has partnered with mall owner Macerich to add flexible-office spaces into some of the company’s retail spaces around the country. The first such coworking space will span 32,898 square feet in Scottsdale Fashion Square in Scottsdale, Ariz., which is expected to open in January, according to a spokeswoman for Industrious…»
(Bloomberg)-Mall landlords, besieged for the past two years by the rise of online shopping, are trying to push a new narrative of improving sales and increased demand for empty space at their properties. Second-quarter earnings results for the biggest owners were largely in line with expectations, according to DJ Busch, an analyst at Green Street Advisors LLC…»
In the first purchase of residentially zoned State Trust Land in Tucson in more than a decade, KB Homes successfully bid $10.625 million today for about 210 acres northeast of the northeast corner of Camino Seco & Irvington Road, State Land Commissioner Lisa A. Atkins said. The successful bid amount was equal to the appraised value of the subject parcel, the minimum bid allowed…»