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Commercial Real Estate & Business News – January 31, 2018

Nikola Motor Co. has picked Arizona for a $1 billion, 2,000-job manufacturing plant and will also move its research and development and headquarters operations to Buckeye. The plant will be west of Phoenix and sit on 500 acres. Nikola will make hydrogen-electric semi-trucks at the planned Arizona facility. Nikola is now based in Salt Lake City…»
LOS ANGELES-December’s enactment of the tax reform package buoyed investor sentiment toward commercial real estate and contributed to a favorable lending environment, CBRE said Tuesday. The latest CBRE Lending Momentum Index, which showed a slight quarterly decline for the last three months of 2017, nonetheless also reflected more balanced participation among lender classes…»
Irwin G. Pasternack AIA + Associates PC and Pasternack Properties have broken ground on TEN Distribution Center 1, a Class A industrial building representing the first 1.1-million square feet in the planned $300 million, more than 3.6-million-square-foot TEN Distribution Center industrial park, located on 83rd Avenue near the confluence of Interstate 10 and the Loop 101 in Phoenix…»
The announcement from Toys R Us last week that it will initially be closing up to 182 stores by April could end up being a positive for many of the landlords impacted. A significant, if not majority, of the properties are located in strong retail trade areas with attractive shopping demographics. In addition, retail properties near or in the shopping centers with stores slated for closure…»
The numbers for 2017 are in: It appears the holiday shopping season was a success. But will this translate to a revival for bricks-and-mortar retail in 2018? The short answer is that it depends. That was the message during real estate services firm Cushman & Wakefield’s recent webinar on the topic, hosted by Garrick Brown, head of retail research for the Americas…»