Commercial Real Estate & Business News – June 12, 2024

Retail sales rose significantly, showing strong increases both month-over-month and year-over-year, as consumers continued to spend and drive growth. Total retail sales (excluding automobiles and gasoline but including restaurants) rose 1.35% month-over-month in May and…»

In the last decade, six different industrial submarkets have more than doubled in size, while an additional seven grew between 50% and 100%. But as we stand today, Phoenix is No. 1 in the nation with the largest active industrial pipeline. A wave of industrial development — the…»

Some of the first restaurants and stores will open at PV, the redevelopment of the former Paradise Valley Mall this fall. Phoenix-based RED Development announced seven new tenants at the former mall, near Cactus Road and Tatum Boulevard, which was torn down in 2021…»

The Valley remains one of the hottest relocation destinations in the U.S. according to a recent report studying moving patterns. In a report released in May by PODS Enterprises, LLC, a moving and storage company, Phoenix ranked No. 7 nationally among cities with the highest…»

Major hotel transactions have been few and far between over the past several years, as inflation has surged across the globe along with higher interest rates. A bid-ask gap between sellers and buyers has sidelined deals activity, while the so-called wave of distressed hotels has not…»