Commercial Real Estate & Business News – December 21, 2022

Third-Party Logistics Company Signs 1 Million-Square-Foot Lease in Phoenix Metro

Erie, Pennsylvania-based Logistics Plus Inc. has secured a 1.1 million-square-foot lease for a new industrial building in the Phoenix metro, which will serve as the company’s largest warehouse globally. Located along the fast-growing Loop 303 corridor, the…»

OpenTable Names 5 Arizona Restaurants to Top 100 in U.S. List

The Valley’s top trio of steakhouses and seafood announced OpenTable diners have named Ocean 44, Dominick’s Steakhouse, Steak 44 to its top 100 restaurant list for the U.S. in 2022. In addition to Dominick’s Steakhouse, Ocean 44 and Steak 44, Mariposa in Sedona and…»

Visits to Physical Stores on Super Saturday up 17%

Shoppers turned to brick-and-mortar stores as the holiday shopping season entered its final week. Visits to physical stores on Super Saturday (Dec. 17) were up 17% from the previous Saturday (Dec. 10) and up 36% from Dec. 3, according to shopper traffic data…»

Cineworld Seeks Extension in US Bankruptcy Case To Consider Real Estate

Cineworld Group, the corporate parent of Regal Cinemas and United Artist Theatres, is asking a U.S. bankruptcy judge for more time to consider its leased real estate and negotiate with landlords at the same time the movie operator is…»

Fewer Are Moving, But Homebuyers Still Love the Sun Belt

Homebuyers are flocking to the Sun Belt, in a continuation of a trend spawned by the COVID-19 pandemic. According to Redfin data, 24.1% of buyers sought to move to a new city during the three months ending in November, a percentage the firm says is…»