Commercial Real Estate & Business News June 14, 2019

The Future Grocery Store, Opening Soon Near You The future grocery store is coming sooner than many realize, according to a new CBRE report. What will this store look like? CBRE tells of a fully automated checkout process, a greater emphasis on prepared meals, a proliferation of smaller, convenience-store grocery outlets, and more collaboration between grocers and nontraditional partners such as…»
With Deep Pockets, San Diego Investor Continues Multifamily Buying Spree in Valley
San Diego-based MG Properties Group – which plans to invest more than $700 million in six Western states this year – just paid $73.7 million for an apartment complex in Tempe, according to Vizzda LLC real estate database. The acquisition of the 379-unit Elevate at Discovery Park Apartments at 1820 E. Bell De Mar Drive in Tempe brings the company’s…»
Construction Input Prices See Slight Increase in May
Construction input prices rose slightly by 0.3% in May on a monthly basis and are up 0.6% over the last 12 months, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data released today. Nonresidential input prices were also up 0.3% compared to the previous month and are 1.1% higher than they were a…»
As CBD Shops Explode in Popularity, Arizona Begins Growing its Own Hemp Crops
Phoenix resident Genevieve Hendricks is experimenting with CBD products to manage her chronic back pain.Hendricks has been a customer of Kaya Hemp Co. since it launched as an e-commerce site in January and went to its newly opened brick-and-mortar location at 6102 N. 16th Street on June 7. Hendricks said owner Cathleen Mitchell has…»
Industrial Subdivision to Open Near Mesa’s Gateway Airport
A 20-acre industrial subdivision is set to open soon in southeast Mesa, the city announced Wednesday. The Landing at PMG will consist of six buildings for a total of 281,000 square feet in the city’s Phoenix-Mesa-Gateway Airport area near Ray and Sossaman Roads, according to a press release. So far, three tenants – Collabtech Group,…»