Commercial Real Estate & Business News February 1, 2019

How Many More Store Closures Are Expected in 2019?
Despite headline-making store closings by Sears, Bon-Ton, Kmart,and others over the past few months, U.S. shopping center and mall owners have been working hard to hang on to tenants. However, they are likely gearing up for another challenging year as more store closures are anticipated in 2019. Research firm Reis Inc. reported that the overall…»
Why Office Space Seekers Need Options Outside the Valley’s Hottest Submarkets
Office vacancy continued to dip in 2018 as users continued to migrate to or start businesses in the Phoenix market. However, a concentration of new construction in only a few submarkets may have left users without options in their desired areas. “Tenants are looking for quality, available product, and there’s not enough product available,” said…»
2019 Predictions: 15 Prime Real Estate Locations Investors Need To Check Out
For those in the real estate market, staying up to date with current trends and market fluctuations is key to keeping a competitive edge. This also includes being aware of cities and regions that are expected to be prime real estate locations in the future – knowledge that is crucial to making sound investment decisions. Within the real estate industry, there…»
Construction Labor Shortages Are Impacting Student Housing Developers
Student housing developers are trying to finish new projects on time no matter how much it costs to get enough workers on the building site. “It’s better to incur the cost of hiring whatever additional labor can be found than to not finish the property on time,” says Carl Whitaker, manager of market analytics for RealPage, a provider of property…»
Downtown Mesa ‘Eyesore’ to Transform into 5-Story Apartment, Commercial Complex
One of the most notorious corners in Mesa should look different by March 2021. What are now fenced-off largely vacant lots on the northwest corner of Main Street and Country Club Drive are envisioned as a five-story, nearly 200-unit apartment complex with bottom-floor retail space. The city recently sold 1.3 acres, which surrounds the empty…»