Commercial Real Estate & Business News – December 7, 2020

Economy Adds Disappointing 245,000 Jobs in November While COVID-19 Rages Across Country
U.S. employers added a disappointing 245,000 jobs in November amid a surge in COVID-19 cases and more state business constraints as well as the looming halt of extended jobless benefits and other federal lifelines for millions of Americans. The unemployment rate, which is calculated from a different survey…»
Kroger Tallies Q3 Gains as Business Transformation Continues
Strong identical and digital sales growth lifted results at The Kroger Co. for the fiscal 2020 third quarter, as the supermarket giant topped Wall Street’s consensus earnings projection. For the quarter ended Nov. 7, sales totaled $29.72 billion, up 6.3% from $27.97 billion a year earlier, Kroger said Thursday. Excluding fuel…»
While the Valley’s retail industry is slowly recovering from the massive hit in revenue it took in the first few months when Covid-19 set in, in some ways, the area’s outlet malls are doing better than they were before the pandemic. For starters, it helped that the Valley’s plethora of outlet malls were able to reopen…»
Phoenix Condo Market Shows Resilience During Pandemic
The Phoenix condo market is among the most active in the country, prompting Polaris Pacific to call the city “the most resilient in the wake of COVID-19.” Sales activity at 7180 Optima Kierland in Phoenix illustrates the strong for-sale condo demand through the pandemic. The project averages 4.5 sales per month…»
The Housing Market Outlook for 2021
There is no place like home. The nature of the crisis this year has emphasized that fact. Even though we love our family members, we all need our space. We expect housing demand and the housing market to remain quite strong in 2021 for those fortunate enough to work in industries that are currently shielded…»