Commercial Real Estate & Business News June 10, 2019

Barnes & Noble Acquired for $638 Million The nation’s largest retail bookseller has been acquired by a British hedge fund.Barnes & Noble has agreed to be acquired by Elliott Advisors UK Ltd. in an all-cash deal valued at about $683 million, including the assumption of debt. The deal follows Elliott’s June 2018 acquisition of Waterstones, the largest retail bookseller in the U.K.…»
Arizona Economy Ranks Just Outside of the Top 10 Nationally
PHOENIX – Arizona’s high GDP growth and increase in nonfarm payrolls helped its overall economy to a No. 11 rank nationally in a recent study.According to a study by, Arizona ranked fourth nationally in both GDP growth and nonfarm payrolls, two of the many indicators the survey took into consideration.…»
Phoenix Multifamily Investment Volume Reaches Quarterly High
Following a record-high year for multifamily sales volume in 2018, Phoenix apartment sales reached a new peak in the first quarter of 2019.Nearly $2.1 billion transacted in the first quarter, as investors flocked to Phoenix looking for yields and solid fundamentals that support generous cash flow. Sales volume increased 33%…»
New South Chandler Development will Feature Pita Jungle, Other Businesses
Pita Jungle is among the tenants planned at a retail center coming to a former Chandler steel yard.Aptly named “The Steelyard,” the development will be located at the southeast corner of Gilbert and Chandler Heights roads and will include three multi-tenant buildings on a 4.6-acre site. The project is expected to break ground this summer and open in 2020…»
Resale Price of Single-family Valley Homes Sets Barrier-breaking Record in May
For the first time, the single-family resale price of a home in Maricopa County was more than $300,000, ending at $308,000 in May, according to Fletcher R. Wilcox, vice president Grand Canyon Title and author of The Wilcox Report. Wilcox said the reason for the record sale price is demand fueled by population and job growth.…»