Commercial Real Estate & Business News August 17, 2018

“Consumers will start seeing higher prices from the steel and aluminum tariffs probably this quarter,” warned one retail analyst. Americans are in shop-til-you-drop mode, buoyed by a series of economic tailwinds that are yielding dividends for retailers. With a rising tide lifting much of the sector, analysts say that retailers who won’t, or can’t, invest in their business will miss out on the spoils.…»
Walmart showed its might in the second quarter, with earnings and sales that topped the Street amid surging digital sales and a jump in store sales. The discount giant’s revenue rose 3.8% to $128.03 billion in the quarter ended July 31, beating analysts’ estimates for $125.97 billion. Same-store U.S. sales increased 4.5%, led by grocery, apparel and seasonal; foot traffic was up 2.2%.…»
The Greater Phoenix investment market started off slow in 2018, but activity picked up in the second quarter with momentum building in the office and industrial properties sectors, according to a report from Colliers International Group Inc. Sales velocities were mixed during the second quarter. Office and industrial properties were sold at an accelerated pace while sales of shopping centers…»
CHANDLER, ARIZ. – After starting construction last October, VanTrust Real Estate completed construction at Chandler Corporate Center, a 117,000-square-foot office located at 350 N. McClintock Drive, which can support over 700 jobs. Developed by VanTrust on 11-acres, the Class A office project was constructed by Layton Construction Company and designed by Butler Design Group.…»
The former Barney’s space at Scottsdale Fashion Square is getting a new anchor. But it’s not a high-end apparel store. Manhattan-based co-working firm Industrious, which recently opened its first Arizona location in Old Town Scottsdale, said earlier this month it would open at the mall as part of a new national partnership to bring co-working spaces to Fashion Square owner…»