Commercial Real Estate & Business News – August 11, 2017

Retail real estate investment trust CEOs have watched many of their stocks fall in recent months, with headlines about the death of malls and physical stores prompting executives to speak out in frustration. Simon, Macerich and GGP hope to convince analysts and investors that the situation isn’t as dire as some might think, and the REITs have strategies to stay ahead of bankruptcies and store closings. On recent earnings conference calls, many retail REIT CEOs discussed new opportunities being presented by e-commerce players…»
CBRE Research has released its Q2 2017 Phoenix Retail Market View and Q2 Phoenix Retail Big Box Report, and healthy levels of positive net absorption, steady big box leasing activity and a notable decline in the market-wide vacancy rate all point to a strong retail market in the second quarter of 2017. “With steady job growth and a hot housing market, the Valley exhibits strong fundamentals that are key to fostering a healthy retail market,” said Todd Folger…»
TEMPE, Ariz – American Campus Communities (NYSE: ACC), the nation’s largest owner, manager and developer of high-quality student housing properties in the U.S., in partnership with Arizona State University (ASU) announce the opening of The Fulton Schools Residential Community at Tooker House on ASU’s Tempe, AZ campus. Engineering undergraduates moving into the new Arizona State University residence hall this week will find themselves immersed in a collaborative, technology-laden living and learning community built specifically for engineers…»
The Blackstone Group’s (NYSE:BX) Invitation Homes (NYSE: INVH) and Starwood Waypoint Homes (NYSE: SFR), two of the country’s largest rental-home owners, are combining in a 100% stock-for-stock merger that would create one of the largest owners of rental homes in the U.S. with approximately 82,000 single-family rental properties. The combined company will operate under the Invitation Homes banner and continue trading on the New York Stock Exchange under the ticker symbol for Invitation Homes (NYSE: INVH)…»
Downtown Phoenix has nabbed another microbrewery. State 48 Brewery leased part of the historic Welnick Marketplace space on Fourth Avenue and Van Buren Street. When it opens in the renovated marketplace in early 2018, it will be the brewery’s second location. The original is the first and only microbrewery in Surprise. “We couldn’t be more excited about joining the downtown Phoenix community and taking part in the revitalization of the area,” owner Mario Rana said in a written statement…»