Commercial Real Estate & Business News August 23, 2019

Fed Minutes Show More Rate Cuts Likely Through 2020 The Federal Reserve released the minutes Wednesday from its July Federal Open Markets Committee meeting, showing that more rate cuts are likely through the end of 2020. At the end of its most recent July meeting, the Federal Reserve cut its benchmark rate by a quarter percentage point in a bid to keep the longest economic…»
Target Stock Soars on Heels of Blowout Quarter; Raises Outlook
Target Corp. hits the bull’s eye in its second quarter, with results that beat the Street on nearly every metric as the retailer’s investments in its stores, online channel and private brands continue to reap benefits. The discounter’s shares surged 20% on Wednesday, closing at a record high of $103. The company’s market value was put…»
Five Retailers Are Opening Stores for Every Retailer Closing Stores, According to New Research from IHL Group
More than five retail chains are opening stores for every retailer that is closing stores in 2019, according to new research from IHL Group. This is up from 3.7 in 2018. The company also reports that the number of chains adding stores in 2019 has increased 56%, while the number of closing stores has decreased by 66% in…»
Developer Plans 22-Acre Mixed-Use District in North Scottsdale
DMB Associates is planning to develop 22 acres of desert in north Scottsdale into the next phase of the One Scottsdale mixed-use development. If it comes to fruition, the project would include include hotel, office, retail and other uses on Scottsdale Road and Legacy Drive. In a submission to the city of Scottsdale’s Development…»
290-Acre San Tan Valley Site Sells for $8.7M
AREAD Management Inc., a residential developer, and Varde Partners, a private investment company, have purchased a 290-acre development site in San Tan Valley, Arizona, for $8,700,000. The seller was Skyline & Quail, LLC. Kidder Mathews land broker, Brian Rosella, represented the seller in the transaction. The development site is…»