Commercial Real Estate & Business News July 16, 2018

Sam’s Club plans to spend the coming months converting closed stores into distribution centers to fill online shopping orders, joining other national retailers in scrambling to grab up warehouse, industrial or even former big box store properties in response to the boom in e-commerce. In another sign of a rapidly changing retail landscape…»

PGIM Real Estate, the global investment arm of Prudential Financial Inc., which has $69.6 billion assets under management across the U.S., Europe and the Asia Pacific region, released its third annual global outlook report this week. The key message of the report: commercial real estate is still a strong sector, but the uncertain length of this cycle has investors questioning what do to next…»

Metropolitan Phoenix’s rising home prices still look like bargains for Californians and buyers from other U.S. areas, where houses cost twice as much. A growing number of people are looking to move to the Valley from Los Angeles, Seattle and Denver, a recent study shows. So many people from those pricier housing markets searched for homes in metro Phoenix this year …»

After nearly eight years of consistent economic expansion, few topics engage commercial real estate professionals more than when the next recession will begin. Few if any expansions have lasted this long, and the anticipation of its end has already started governing plans for new development and investment. More diversity within portfolios, especially by adding…»

The purchase of a 40-acre retail complex and nearby land in Goodyear indicates optimism for the Southwest Valley, city officials said. Cleveland-based Stark Enterprises bought The Market at Estrella Falls, at the northeast corner of PebbleCreek Parkway and McDowell Road for $49.1 million from the Macerich Co. and Globe Corp. The sellers still own property east of the area. …»