Commercial Real Estate & Business News June 14, 2018

WASHINGTON– The economy is revving up and so the Federal Reserve is stepping up its plan to move interest rates closer to normal. As anticipated, the Fed raised its benchmark short-term interest rate Wednesday but it also upgraded its forecast from a total of three hikes this year to four amid an improving economy, falling unemployment and slightly stronger inflation…»
SB2-Gilbert, LLC, a commercial real estate investment, development and management company announced a new mixed-use development, Verde at Cooley Station. Located at the southwest corner of E. Williams Field Road and S. Recker Road, this 23-acre project will include restaurants, retail, offices, health and wellness facilities, and apartment residences…»
Building owners and investors across the country – especially those on the West Coast and Eastern Seaboard – are bracing to find out how AT&T’s acquisition of Time Warner will impact their real estate markets. The $85 billion deal was given the greenlight by a federal judge yesterday and is now expected to close within weeks…»
(Bloomberg)-Landlords have malls they’d like to unload. But who’d want to buy them? As they battle the rise of e-commerce, U.S. mall owners are trying to clear their books of fading centers so they can focus on the most-profitable ones. That’s proving difficult, with just a shallow pool of investors who are willing to take on a declining mall and even fewer who would pay what the landlords want…»
The Mesa Tower, located in Mesa and owned and managed by Los Angeles-based Barker Pacific Group, has finalized leases for more than 33,000 square feet. BPG said Tuesday more than five companies have finalized leases since the acquisition of the tower in September 2017. The Mesa Tower contains more than 311,000 square feet…»