Commercial Real Estate & Business News August 28, 2018

Walmart is expanding its digital marketplace to attract more higher-end and younger shoppers to its e-commerce site – and give it more firepower against Amazon. On Monday, the discount giant launched a curated online store on its website for outdoor brand Moosejaw, which Walmart acquired (Walmart acquired Moosejaw in February 2017. This is the first time that Walmart is creating…»
Despite talk of peaking property prices and declining yields as the economic recovery enters its 11th year, it is hard to find signs of commercial real estate weakness in the quarterly banking data released over the past week.  The total amount of commercial real estate loans held on bank books as of June 30 was 5.5 percent more than at the end of the first quarter…»
Single-family home rents in Arizona continued to outpace the national average during the first half of the year, according to a report from CoreLogic. High rental home demand is fueling higher prices nationally, and that’s particularly true in Arizona. Nationally, rents rose a cumulative 4.1 percent from January to June, according to CoreLogic…»
The performance of hotel properties keeps getting better-occupancies, room rates and revenue per available room (revPAR) continue to rise, despite worries about overbuilding. “This is the strongest demand environment ever recorded for hotel rooms,” says Jan Frietag, senior vice president for research firm STR, based in Nashville, Tenn. A year ago, developers seemed to be building plenty of new hotel projects…»
Officials with the town of Gilbert are hoping that the construction of new public amenities in its Heritage District will help lure in private sector real estate development. Analysis done by the town’s economic development department showed there is market demand in the Heritage District for office, retail, restaurant, hotel and multifamily uses. The town has identified key public improvements…»