Commercial Real Estate & Business News – July 9, 2021

Out of all large U.S. counties, Maricopa County is experiencing the 9th largest population growth, according to a new report from HireAHelper. For the first time ever, California posted a population decline in 2020, and the United States as a whole didn’t fare much better. Its growth has…»
The first phase of redevelopment at Paradise Valley Mall got underway on Wednesday. Crews began demolishing the former Sears and Macy’s stores at the site at Cactus Road and Tatum Boulevard. Demolition is expected to last through 2021, according to…»
The Scottsdale Plaza Resort, one of the largest hospitality properties in the Valley, was acquired by a partnership between premier hospitality management company Highgate and Boston-based real estate private equity firm Rockpoint Group. The transaction priced at…»
British entrepreneur and adventurer Sir Richard Branson, head of Virgin Group Ltd., said, “Every success story is a tale of constant adaption, revision and change.” Certainly, as retailers grappled with the impact of COVID-19 restrictions, those that could quickly pivot and adapt were the winners…»
Cap rates in the single-tenant net lease sector rose slightly in the second quarter after hitting historically low levels in the previous quarter, according to the 2nd Quarter Net Lease Research Report from Boulder Group. Industrial cap rates increased by 18 basis points to…»