Commercial Real Estate & Business News – January 3, 2017

When a company relocates to a region, it creates a lot of benefits that spin off to the entire broader region, county and state as a whole. Mayors, city officials, economic development teams and groups are working together to facilitate more economic development opportunities throughout the state by finding the right locations that best serve the needs for new businesses.…»
We’ve heard it time and time again: A franchise business announces plans to aggressively grow in Phoenix, calling the Valley a target market. “We’ve got room to add well over 60 restaurants in (Phoenix),” Quick-service restaurant Rally’s is one of many franchise businesses who said they would grow aggressively in the Phoenix market. But rarely do franchises ever fulfill their promise.…»
Celebrity chef Scott Conant is currently in search of 150 employees for Mora Italian, the uptown Phoenix restaurant he’s opening with Stefano Fabbri, the restaurateur behind Pomo Pizzeria Napoletana. Conant, a judge on The Food Network’s “Chopped,” is expected to be at the restaurant space in-person during interviews…»
Strong underlying performance helps to offset what Morningstar views as the “generally defensive” nature of commercial real estate themes, especially on a global scale. Publicly traded real estate companies within Morningstar’s sphere of coverage are “marginally undervalued,” trading at a 7% discount to fair value estimates. …»
Emotionally wrenching politics, foreign conflicts and shootings at home took a toll on Americans in 2016, but they entered 2017 on an optimistic note, according to a new poll that found that a majority believes things are going to get better for the country this year. A look at the key findings of the Associated Press-Times Square Alliance poll…»