Commercial Real Estate & Business News – February 16, 2023

Core Retail Sales Rise in January in Every Category

Retail sales rebounded in January amid a pick-up in post-holiday spending. Retail sales in January were up 1.5% from December and increased 4.8% year-over-year, according to the National Retail Federation, whose calculation excludes…»

Amazon CEO Still Wants to ‘Go Big’ on Retail Grocery: Report

Amazon Fresh locations are similar to traditional supermarkets, with a strong focus on private labels and technology that allows customers to skip the checkout lines by scanning products as they shop using the company’s proprietary Dash Carts…»

Office Towers, Apartments Could be Added to Two Major Phoenix-Area Shopping Malls

Macerich, the operator and owner of many of Phoenix’s top malls, is looking to round out the surrounding areas of some of their shopping destinations with class A office buildings and multifamily housing. Plans are in the works for…»

Phoenix Leads the Nation in Shortage of Small Bay Industrial Space

Though large industrial lease signings dominate news headlines, demand for space at Phoenix’s small bay properties is quietly leading the nation. The median time to lease for local industrial spaces smaller than 50,000 square feet has plummeted from…»

Dwell Apartment Homes in Scottsdale Sell for $41.6M

Avanti Residential has sold the vibrant 193-unit Dwell Apartment Homes for $41.6 million to Chicago-based 29th Street Capital. The sale allows Avanti to realize its investment objective for the property and continue to reallocate the firm’s…»