Commercial Real Estate & Business News December 10, 2018

In the 10 years since the original light rail stretch was opened in 2008, more than 35,000 jobs have been created within a half-mile of the train’s path, according to research done by Valley Metro. Valley Metro leadership and current and former city leaders lauded the economic impact of the light rail at an event commemorating the train’s first 10 years of operation Thursday…»
Lincoln Property Company completed construction on Lincoln Logistics 40, an $85 million, 901,770-square-foot warehouse in Phoenix. The single-story structure at 575 S. 143rd Ave. comprises 161 loading docks, four drive-in bays, 185 trailer storage stalls and 551 parking spaces…»
According to data from Yardi Matrix, the average size of a new U.S. apartment has shrunk 5 percent over the last 10 years, while the average price has risen 28 percent. The average floor plan of a new apartment measures 941 square feet (87.4 sq m), but that is still larger than the overall average of 882 square feet…»
Dignity Health is eager to show off its new hospital in east Mesa. Now if it could just get the word out that it’s fully open. “Some people have come in and said, ‘We didn’t know you were open yet,'” said Jane Hanson, president and CEO of the new Arizona General Hospital Mesa Campus on Elliot Road just off the Loop 202…»
Mall and shopping center owners across the U.S. are starting to talk about change, realizing that if their centers keep the same antiquated models, anchored solely by department stores, they risk them going dark in the coming years. Roaming the halls of the largest retail real estate conference on the East Coast this past week, put on by ICSC…»