Commercial Real Estate & Business News December 13, 2018

Health, Fitness and Food: Retail’s Thriving Sectors
The industry has experienced a major shift over the last few years, driven by the rise of e-commerce. But the bright spots where retail is finding success are all about experience. Since 2009, the share of e-commerce sales in the U.S. has grown from 4 percent to 10 percent of all retail sales, according to the U.S. Census Bureau. It’s a trend that has shown no signs of stopping and one that has shaken up…»
Mesa Approves $200 Million GrandeVita Project
On December 10, the City of Mesa moved forward a plan for a 20 acre, multi-use, campus-style community at Crismon Road and Hampton Avenue. This $200 million project, called GrandeVita, a Biocity Enterprise by Khangura Development will allow seniors to “age in place” in a high tech and innovative environment. A 127 room Residence Inn by Marriott is the first project to be completed…»
LA Investor Snags Apartments Within Walking Distance of ASU
Los Angeles-based Tides Equities LLC closed Wednesday on a $27.5 million apartment complex within walking distance or Arizona State University. The Arbors, a 197-unit apartment complex at 804 W. Arbor St. in Tempe, is the company’s best-located asset in its portfolio, said Sean Kia, co-founder and principal of Tides Equities, which has been bullish on the Phoenix market…»
California Investment Firm Sells 174,000-SF Industrial Complex in Phoenix
Beverly Hills, California-based Black Equities Group sold a 173,888-square-foot industrial complex in Phoenix to Presson Corporation. Van Buren Industrial Center sold for $6.6 million, or about $38 per square foot. The Class B complex at 34-74 N. 45th Ave. was built in 1982 less than eight miles from Phoenix Sky Harbor International Airport. The 57 percent leased buildings feature…»
Retail is Changing. Here’s Some Ideas to Future-Proof Your Business
The shopping experience of tomorrow is likely to be vastly different than what consumers encounter today, according to Natasha Patel, director of global retail research at the real estate services firm CBRE. Her team recently took a stab at what retail might be like in the year 2030 , and what the implications might be for the real estate industry. Here’s some takeaways…»