Commercial Real Estate & Business News – August 9, 2021

Even with the delta variant of the coronavirus spreading through the country, July’s job report was surprisingly positive. On Friday, the U.S. Labor Department announced 943,000 new jobs were added last month, jumping past the expected totals of 865,000. That’s up from 938,000 that were…»
Costco Wholesale Corp. reported strong same-store sales growth in July even as its digital sales growth inched downward. The warehouse club retailer’s net sales rose 16.6% to $15.21 billion for the four weeks ended Aug. 1, up from $13.04 billion in the year-ago period. Total same-store sales…»
Arizona led the nation for small business employment growth for the month of July, according to new data from Paychex and IHS Markit.
Nationally, job growth was up across all industries, but Arizona outpaced the nation for small business employment growth…»
The Greater Phoenix medical office building market is posting positive net absorption and rising rental rates as the city experiences nationally recognized population growth, according to a report released by Colliers in Arizona.Positive net absorption of medical office space during second quarter…»
While the pandemic had a negative impact on many areas of commercial real estate, it only heightened the need for affordable housing. In fact, while the retail and hospitality sectors suffered and are still struggling to recover, the multifamily and affordable housing sectors outperformed most sectors…»