Commercial Real Estate & Business News – January 4, 2018

In September, e-commerce giant Amazon announced it was looking for a location to build its second North American Headquarters. Dubbed “HQ2,” the project would total eight-million square feet, employ 50,000 workers and cost $5 billion to build and operate. Many are touting it as the economic development project of the decade, putting pressure on economic developers and city officials across the nation to submit Request for Proposals…»
CHICAGO-Cap rates in the net lease market went on a long-term slide for several years as the economy recovered from the recession, with single tenant retail properties experiencing an especially steep drop. But the rates for all property types stabilized about 18 months ago, and signs now point to likely increases in the coming year. The vast majority of active net lease participants expect cap rates to rise…»
German grocer Aldi could land between 30 and 40 new stores in Phoenix as it enters the Arizona market. That is according to Judi Butterworth, a veteran commercial estate broker and senior vice president at Orion Investment Real Estate in Scottsdale and John Jackson, an associate vice president with Colliers International (Nasdaq: CIGI). Both Butterworth and Jackson specialize in retail real estate…»
Driven largely by demand from companies in the technology industry, Chandler is seeing low vacancy rates in both office and industrial space, an indication that the city is a prime spot for new development. Those low vacancy numbers have fostered a competitive real estate market in Chandler as businesses considering locating in the city vie for remaining space…»
Retailers have closed the books on 2017 and Christmas holiday shopping rush. That means it’s time for some retailers to announce restructuring plans and store closures as the sector tries to figure the e-commerce wave led by (Nasdaq: AMZN) and just too many stores chasing consumers. That also has a huge impact on the malls and shopping centers that house those…»