Commercial Real Estate & Business News – December 1, 2017

Without any worrisome developments like a financial sector meltdown or a presidential election upset, and encouraged by a strong economy, American consumers turned out in strong numbers to brick and mortar and online shopping channels alike, giving retailers an encouraging start to the 2017 holiday shopping season. From Thanksgiving Day through Cyber Monday, more than 174 million Americans turned up to shop in person and online, according to data from the National Retail Federation (NRF). On average, consumers spent $335.47 per person…»
The top 1,000 corporate, government and institutional occupiers in the U.S. hold leases worth an aggregated rent value of more than $135 billion, encompassing just over 8.4 billion square feet of office, industrial and flex space across about 115,500 properties, according to a recent analysis of CoStar Group tenant data. The study ranks occupiers by the current value of rents paid across their U.S. real estate portfolios in CoStar’s database…»
SANTA BARBARA, CA-Apartment rents held steady in November while decreasing slightly from the previous month for all unit sizes, RentCafe reported Wednesday. On a market level, the fastest year-over-year growth is occurring in small and medium-sized cities, while some of the more volatile metro areas are stabilizing. November’s average monthly rent of $1.358 is just 2.5% higher Y-O-Y…»
Eclipse Automation – which makes automated and robotic equipment and systems for manufacturers – is opening a new facility in Mesa. Eclipse, which is based near Hamilton, Ontario, already has locations in Charlotte, North Carolina, and Fremont, California. The automation company landed on Broadway Road near Loop 101. It will hire 50 automation engineers and technicians for its Arizona center in the East Valley…»
Arizona’s economy has slowed over the past year but remains on a growth trajectory with no recession in sight, according to economists speaking at an event in Phoenix on Wednesday, “Arizona has downshifted a bit,” said Lee McPheters, an economics professor at Arizona State University, referring to job growth. But he predicted the statewide job tallywill pick up in 2018 as the national economy expands…»