Commercial Real Estate & Business News – July 5, 2017

The Institute of Supply Management runs something called the manufacturing index and this has jumped for the month of June, both in general activity and also in new orders. It’s worth out noting that this is a forward looking measure, it tells us something about what is going to happen. It’s thus hugely useful about that short term economic future. No, it’s not some massive rise, we’re not at the time for the Happy Dance, but it does show that the economy continues to grind on getting better bit by bit…»


Walgreens will no longer acquire Rite Aid, instead purchasing 2,186 stores and three distribution centers from Rite Aid for $5.2 billion…»

The increasing presence of food and beverage in shopping centers-often accounting for more than 20 percent of units in new and redeveloped centers in more mature markets-is being driven by rapid global growth in consumer spending on eating out.…»

It seems nothing can stop housing demand, which just hit a new high, according to Redfin, an online real estate brokerage. The company’s Housing Demand Index increased 11.3% in May to a new record high. The index now stands at a seasonally adjusted level of 136, the highest level of homebuyer demand since Redfin began tracking in January 2013…»

The Vistal Golf Club in Phoenix closed in 2015. Now, the former golf course development at Seventh Street and South Mountain is slated to become a 650-home residential development…»