Commercial Real Estate & Business News July 13, 2018

When the temporary exemptions on steel and aluminum tariffs granted to Canada, Mexico and the European Union expired on May 31, 2018, the commercial development industry found itself faced with a sudden and dramatic increase in construction costs. While the tariffs had already been in effect for several weeks…»
In the first half of 2018, 39 companies announced job expansions or relocations to the greater Phoenix area, totaling 9,155 new jobs. According to data compiled by CBRE Group Inc., the most actively growing industries were manufacturing, software and technology and banking and finance…»
The average retail cap rate for net lease properties during the second quarter of 2018 reached 6.2 percent, an increase of 10 basis points from first quarter, according to Second Quarter National Net Lease Report from the Boulder Group, a national net lease commercial real estate firm…»
The old dirt square across Arizona Avenue from Chandler City Hall will soon be New Square. Developer Spike Lawrence shared his company’s plans for the gravel parking lot behind Saba’s and Bourbon Jack’s at a recent community meeting. The project, named New Square, will comprise four different buildings, plus a small park and community stage…»
The Wolff Company – a Scottsdale-based private equity firm and developer – has purchased property in Scottsdale, Arizona, with plans to develop a refined senior community called Revel Scottsdale.  Revel Scottsdale will be located at 8225 E. Indian Bend Rd. in Scottsdale, between Hayden Road and Pima Road…»