Commercial Real Estate & Business News August 29, 2019

The Open Office Concept Is Beginning to Show its Limitations More than anything else, office tenants want to attract and retain the right talent and are willing to pay a rent premium for office space attractive to younger workers. The open office concept has been touted as the answer, with claims that it provides collaborative, amenity-rich workspaces that young workers prefer. But studies indicate that…»
The Retail Apocalypse Isn’t What You Think It Is
When well-known retailers close large numbers of stores, it makes us take notice. Parents couldn’t miss it when Toys R Us went bankrupt. Whether or not you’ve shopped at a Sears lately, you certainly know it has shrunk massively and that J.C. Penney, Barney’s, and other stalwart brands have shuttered many of their locations. Some chains are…»
Remington Nevada Begins Construction on Gilbert Warner, a Premier Shopping Center
The 11-acre, 95,000 square foot shopping center will complement the surrounding community with an urban layout that will connect tenants and shoppers to the nearby Gilbert Civic Center, Banner Gateway Hospital and Alliance’s Broadstone Gilbert Heritage project. “Gilbert is one of the fastest growing cities in the country, so it was a…»
CBRE Survey: Cap Rates for CRE Assets Stable So Far in 2019
An advantageous balance of moderate growth, low inflation, and falling long-term interest rates in the U.S. kept capitalization rates for commercial real estate assets broadly stable in the first half of 2019, according to the latest research from global property advisor CBRE. The CBRE North America Cap Rate Survey found that…»
Downtown Phoenix U.S. Bank Highrise Sells for Almost $93 Million
A 31-story downtown Phoenix high rise has sold for almost $93 million, and the new owners plan to spend another almost $15 million to renovate it. Miami-based Black Salmon purchased the 375,862-square-foot U.S. Bank Center. The tower at 101 N. First Ave. is 83% full with tenants including the bank, WeWork and…»