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Commercial Real Estate & Business News June 15, 2018

US retail sales grew at the fastest pace for six months in May as tax cuts and rapid corporate hiring bolstered Americans’ incomes.  Headline retail sales jumped 0.8 per cent in May from the previous month, the Commerce Department said on Thursday, exceeding expectations for a 0.4 per cent increase, according to a Thomson Reuters survey. Year-on-year growth was 5.9 per cent…»

The southern edge of Gilbert that borders Chandler and open county land still bears traces of the town’s agricultural legacy. The area is changing, though, as population growth in Gilbert drives landowners to sell to builders eager to meet growing demand from homebuyers. The area is full of placards from builders like Shea Homes, Toll Brothers and Taylor Morrison touting developments that have popped up in recent years

 

Arizona has more than 8,000 technology companies operating in the state, with a growing tech workforce of more than 168,200 jobs, a new Arizona Technology Council report found. The tech community has seen a 1.38 percent employment growth, which ranks the state second in the Southwest and ahead of California, according to the report…»

Retail may be the most challenging sector for investors. E-commerce, new patterns of consumer behavior and store shutdowns means buyers have to very thoughtful as they evaluate properties. And according to Real Capital Markets’ May 2018 Retail Investor Sentiment Report, the shutdown of Toys R’ Us and so many other well-known retailers has changed investors’ views on the threats to retail investing…»

The country’s two major drugstore chains, CVS Pharmacy and Walgreens, are not immune to the impact of Amazon, which is eager to get a slice of the lucrative pharmaceutical pie, and other online retailers. “Drugstores are not internet-resistant retailers, and as such, they need to closely evaluate their products and service offerings in an effort to stay relevant with their customers,” says Lanie Beck…»