Commercial Real Estate & Business News – July 31, 2017

In spite of persistent trend of rising store closings, retail cap rates stayed largely flat in the second quarter of 2017, according to data collected by commercial real estate services firm CBRE. On the national level, cap rates average 6.8 percent-a one basis point increase from the first quarter of 2017 and a one basis point decline from the same period last year.…»
Arizona’s economy is poised to grow about half a percentage point faster than the nation both this year and next, according to a report. Arizona’s economy will expand 2.6 percent this year and 2.8 percent in 2018, topping U.S. growth estimates of 2.2 percent both years, according to a quarterly study by BMO Financial Group of Toronto.…»
Republican leadership in Congress and the White House formally gave up pushing a border-adjustment tax last week, dropping one of the more divisive elements of the party’s efforts at changing tax laws. The idea, known as BAT, ran into stiff opposition from both giant retailers like Walmart and smaller Arizona businesses…»
For months, the mantra among U.S. office market analysts has been that new construction levels are peaking at relatively moderate levels compared with past cycles, with new supply largely remaining in check with demand in most office markets across the country. That restraint in new development is in sharp contrast with the world as a whole…»

Home furnishings retailers are drawing keen interest from both consumers and investors alike lately. TJX Cos. is preparing to launch a new concept that features much more furniture than its other brands. Wayfair continues to be adept at using e-commerce to boost top line growth and Rent-A-Center has attracted two acquisition offers…»