Commercial Real Estate & Business News June 11, 2018

CyrusOne has selected a site in Mesa, Ariz., for a second data center campus in the Phoenix metro. The company acquired a 68.2-acre plot of land within the Mesa Elliot Technology Park and plans to build a five-building cloud computing facility. The facility will eventually be able to deliver up to 198 megawatts of critical power to tenants. CyrusOne’s newest development will be located near the junction of Elliot and Ellsworth roads…»

Global consulting group Deloitte should be able to occupy more than 100,000 square feet of office space in the Commons, a multi-building office neighborhood within the Rivulon development by the end of the year. Brian Ellis, president and COO of Nationwide Realty Investors, owner and developer of Rivulon, said the Commons eventually will contain four buildings, each with about 100,000 square feet of office space, along with a courtyard and other common areas. Nationwide Realty Investors is the real estate development affiliate of Nationwide Insurance. …»

U.S. multifamily rents rose by $4 to $1,381 last month, according to Yardi Matrix’s Matrix Monthly report for May 2018. Multifamily rents have risen by $14 in the last three months and $15 this year to date – a weaker rate of rent growth than the same period last year, when multifamily rents rose $25 from January to May. Rent growth has fallen to 2% year-over-year…»

Amidst a tumultuous environment for brick-and-mortar retailers, online brands continue to flip the script and open physical stores. Many landlords are welcoming them, hoping they will help draw shoppers. While some are start-ups testing the waters and figuring out their brick-and-mortar strategy, others have a proven formula and are expanding. They already know their customer base and which markets they want to be in, and they’re targeting tech-savvy consumers, particularly millennials, which landlords want to attract.…»

The retail industry has been experiencing disruption due to technological innovations that have pushed a growing number of consumers to mobile purchases and e-commerce transactions. In 2017, nationwide e-retail sales totaled over $409 billion. Amazon accounted for $54.47 billion and Walmart sold $14 billion in the U.S. alone. By the year 2021, forecasts for global e-retail sales expect the number to reach $603.4 billion (USD).…»