Commercial Real Estate & Business News – August 10, 2023

The path toward moderation is becoming clearer as firms become more cautious in hiring. The latest jobs report demonstrated that firms added 187,000 positions in July. After June and May job gains were revised lower by 24,000 positions and 25,000 positions,…»

A developer plans to add about 240 apartment units in the parking lot of a Scottsdale retail center, a $100 million project that aims to add housing and boost business activity. High Street Residential, the residential development arm of Trammell Crow Co.,…»

The Arizona Coyotes confirmed Wednesday morning that the team’s owner Alex Meruelo has executed a letter of intent to purchase a parcel of land in Mesa as a potential arena site. While the Coyotes’ confirmation statement did not include many details, Arizona Sports’ John Gambadoro reported…»

WeWork has warned that it is at risk of bankruptcy after posting a net loss of nearly $700 million in the first six months of this year and recording $10.7 billion in net losses over the previous three years. The company has become a cautionary tale on how not to nurture an emerging business model, but its…»

Nordstrom plans to open a Rack store in the fast-growing Phoenix suburb of Queen Creek after announcing a national expansion of the upscale retailer’s off-price locations in the United States last spring. The Seattle-based chain plans to open the 28,000-square-foot store in…»