Commercial Real Estate & Business News – August 18, 2017

Tuesday’s Commerce Department report of a major boost in U.S. retail sales in July, combined with a stronger-than-expected jobs report earlier this month, suggests that the U.S. economy continued its slow but steady expansion in the third quarter. Usually, record highs in the stock market, strong economic indicators and stable fundamentals across U.S property and capital markets would be cause for investors to plunge headlong into the property market…»
As Chandler’s booming Price Corridor continues to grow, area home buyers are driving a new demand for luxury urban living which is fueling new developments like The Cays at Downtown Ocotillo, one of the area’s first upscale condominium developments. In the past decade, Chandler has gained over 100,000 new residents bringing the total population to nearly 255,000 people, according to the City of Chandler…»
The nation’s two largest public pension funds reported strong returns from their real estate investments for their fiscal years ended June 30. The California Public Employees’ Retirement System (CalPERS) reported preliminary net returns of 7.6% for its real estate holdings – 43 basis points over its benchmark performance. CalPERS holds $331.7 billion in total assets with real estate making up $30.1 billion of that…»
Varsity Tavern, a sports bar and restaurant, will take over the old Hooters space on Mill Avenue in Tempe. The new location, at 501 S. Mill Ave., will be Varsity Tavern’s first outside of its native Texas. It will occupy the upstairs space, where “breastaurant” Hooters closed in 2015 after 20 years. Gringo Star Street Bar will remain open on the first floor of the building…»
Wal-Mart Stores Inc. (NYSE: WMT) reported earnings today as it navigates an oversaturated retail sector, takes on Inc. (NYSE: AMZN) and secular changes in favor of e-commerce. There’s also some sentiment among retail industry and Wall Street analysts that it might not be Walmart chasing e-commerce giant Amazon. “If you asked me a year ago, I would have said Walmart is chasing Amazon…»