Commercial Real Estate & Business News – February 24, 2014

Walmart Accelerates Small Store Growth

Wal-Mart Stores Inc. plans to accelerate its capital plan for U.S. small store format openings significantly for the current fiscal year. The company is expanding its original capital forecast provided last October, and now expects to add approximately 270 to 300 small stores during the fiscal year, doubling its initial forecast of 120 to 150 stores… Read more

Non-profit Fund Boosts Construction Along Light Rail

Light rail has spurred the development of several housing, office and retail projects in Phoenix, Tempe and Mesa. But more than a dozen of the new developments might not be open or under construction without the help of a $20 million non-profit fund created to support housing and redevelopment near the tracks… Read more

Shutterfly Signs 200,000-SF Deal

Sources at Wentworth Property Group revealed that Shultterfly is designing a new build-to-suit facility at Discovery Campus Building located at Elliot Road and Loop 101, sharing the main entrance with ASU Research Park in Tempe. The online photo printer Shutterfly revealed in a recent SEC filing that it signed at 217-thousand-square-foot deal for a production facility in Tempe through 2025… Read more

Solid Investment Returns Continue in 2014

Commercial real estate investment returns are expected to remain steady through year-end, according to Expectations & Market Realities in Real Estate 2014 – – The Future Unfolds, a forecast released jointly by Real Estate Research Corp., Deloitte, and the National Association of Realtors… Read more

Downtown Scottsdale Eyesore May Finally Be Rebuilt

Downtown Scottsdale finally may see the redevelopment of arguably its biggest eyesore this coming fall. A partially demolished building near Scottsdale and Camelback roads has sat dormant for the past seven years on the northeastern corner of Scottsdale and Shoeman Lane… Read more