Commercial Real Estate & Business News – February 21, 2014

A$90 million project for Carefree’s Main Street is being revisited, and the professionally laid back town of Carefree could soon be home to Arizona’s newest “Main Street” condo and commercial project – aptly named Easy Street both for the street it fronts and its cool, casual lifestyle… Read more
Grand Canyon Education Inc. reported increased enrollment, net income and revenue in its 2013 fourth quarter earnings released today. Enrollment is up to 59,658 for the year ended Dec. 31, 2013, increased from 52,292 students in 2012, causing a need for Grand Canyon University to build more dorms on its Phoenix campus…Read more
What are the five hottest business districts in the state? At the Urban Land Institute’s ninth annual Arizona trends day Wednesday, a panel moderated by Mesa Mayor Scott Smith presented these five… Read more
Reports on retail leasing in the fourth quarter of 2013 paint a picture of conflicting trends in the sector. Analysts identified modest gains in occupancies and rents, but tempered them with troubling hints of potential long-term difficulties. Analyses from both Reis Inc., a New York City-based research firm, and CoStar Group, a Washington, D.C.-based research firm, found declines in vacancies at retail centers. According to CoStar, vacancy on a national basis dropped to an average of 6.7 percent from the fourth quarter of 2012 to the fourth quarter of 2013. That’s the lowest rate since 2008… Read more
Wal-Mart Stores Inc. on Thursday doubled its projected growth of its small-store format as the retailer reported a disappointing fourth quarter and issued lower-than-expected fiscal 2015 guidance. Net income for the quarter, which ended Jan. 31, fell 21% to $4.4 billion. Total sales increased 1.4% to $128.8 billion, including a $1.8 billion negative impact related to foreign currency translation. Same-store sales in the United States fell 0.4%…Read more