Commercial Real Estate & Business News – December 15, 2017

U.S. retail and food services sales were up by 0.8 percent in November compared with October, the Census Bureau reported Nov. 14. That was more than expected, and since the bureau adjusts for seasonal variation and holiday and trading-day differences, though not for price changes, the fact that the holidays are near wasn’t a factor in the increase…»
Last month I wrote up my annual tirade about the National Retail Federation holiday sales forecast. The NRF’s track record – it uses a deeply flawed methodology – is terrible. The group makes a silly prediction, I make fun of it, they call me a Grinch, a good time is had by all. Except for the retailers. Retail stores are on the front lines of an industry…»
Much has been written on the explosion of the apartment market in recent years. Most of the focus of this expansion has been on the central business districts (CBD) or urban cores as so much of the growth in inventory has been concentrated in the heart of major cities… Or has it? And what do “major cities” look like, anyway? Indeed, there has…»
The Phoenix City Council approved plans yesterday for a large data center campus on land at 40th Street and McDowell Road. Development plans could bring a 2 million-square-foot, $1 billion data center campus. The land has been vacant for years, totals almost 98 acres and was previously looked at as a site for stadiums and arenas…»
PetSmart expanded its new pet-care concept store, the Groomery, with a new location in Scottsdale. The Groomery, which the Phoenix-based pet retailer launched in October in New York and Chicago, is a stand-alone salon for dogs and cats. It offers baths, haircuts, blow-outs and nail trims. While grooming services are offered at PetSmart locations…»