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Commercial Real Estate & Business News – February 8, 2021

Nationwide, 27.8% of Redfin.com users looked to move to another metro area in 2020, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. That’s up from 25.5% in 2019, a 9% year-over-year increase. The increase is driven by people leaving…»
Lease renewals accounted for 70% of office leasing activity in the US in 2020, a significant uptick from 2019 levels. A JLL report released this week reveals that most companies are adopting a wait-and-see approach to lease strategies as COVID-19 continues to throw a wrench into planning. Generally…»
Arizona’s largest homebuilder is back in Casa Grande. After exiting the market during the Great Recession, Miami-based Lennar Corp. (NYSE: LEN) on Feb. 4 paid $6.78 million to Dolphin Partners for 115 finished lots in Casa Grande, according to Tempe-based Vizzda LLC real estate database…»
The future is discount and digital for Nordstrom, one of the few legacy department store companies to avoid filing for bankruptcy protection during the coronavirus pandemic. The company, based in Seattle, plans to reposition its off-price brand Nordstrom Rack store fleet by turning some locations into…»
Boston-based Taurus Investment Holdings LLC has made its Arizona debut with the purchase of two apartment communities in the Valley. The private global real estate investment firm just paid $56.4 million for the 240-unit Indigo Springs apartments in Mesa, on the heels of the $24.95 million acquisition…»