Commercial Real Estate & Business News – January 31, 2017

Not having their hopes fulfilled that their $17.2 billion merger would win approval before President Obama left office, Walgreens Boots Alliance Inc. (NASDAQ: WBA) and Rite Aid Corp. (NYSE: RAD) extended their agreement to give new administration officials more time for review. …»
It’s Thursday night at the Yard in uptown Phoenix, although at first glance you might guess it’s a Saturday night. The dining and hangout space on Seventh Street, anchored by the mega-popular gastropub, Culinary Dropout, is packed to near capacity. Is it always this busy on a weeknight? I ask the hostess.…»

Vistancia has been ranked among the top 20 master planned communities in the U.S. for 2016 by two of the real estate industry’s annual listing reports published by RCLCO and John Burns Real Estate Consulting. The prestigious rankings, which recognize the leaders in new home sales each year placed Vistancia at No. 15…»

Hotels had another great year in 2016, even though developers keep on opening new properties. For the whole year of 2016, the occupancy rate for hotels averaged 65.5 percent in the U.S., according to hotel data firm STR. …»
It’s early days in President Donald Trump’s administration, but he’s already moving fast to make changes in the housing market. An hour after being sworn in, Trump stopped a cut to FHA costs that could save first-time homebuyers $500 a year. The longtime real-estate developer’s other plans could cap the popular mortgage-interest deduction…»