Commercial Real Estate & Business News – June 20, 2017

New home sales jumped more than 28 percent in May, construction permits were up 18 percent and existing homes sale were up more than 13 percent compared to a year ago. That is according to the much-watched RL Brown Housing Reports research report for the regional housing market…»
Experts predict Amazon will use the Whole Foods stores, in part, as hubs for grocery pick-up and delivery, helping Amazon resolve the “last mile” dilemma. The proposed $13.7 billion acquisition of organic grocery retailer Whole Foods Market by e-commerce giant Amazon holds the potential to upset the grocery cart, so to speak…»
Phoenix – In a deal that increases its office holdings in the Valley to 1 + million sq. ft., an affiliate of Goldman Sachs Group Inc. of New York City, N.Y. (NYSE:GS) paid $81.75 million ($276.37 per foot) to acquire a 295,794-square-foot project located at the southwest corner of 32nd Street and Camelback Road. The two-building complex is comprised of a four-story, 196,912-square-foot office…»
Kroger Co. – the owner of Fry’s Food & Drug Stores in Arizona and Ralphs in California – could be in line to join forces with another big U.S. supermarket operator as the war for consumers’ grocery spending heats up, one analyst says. In the wake of Friday’s blockbuster news that Inc. will buy Whole Foods Market in a $13.7 billion deal, Cincinnati-based Kroger…»
Intel Sees Fast-Developing Driving Technologies Ushering in $7 Trillion ‘Passenger Economy’ by 2050, Real Estate to Rethink Everything from Amenities to Zoning. “Companies should start thinking about their autonomous driving strategy now,” said Krzanich, who ranks the fast-developing technology on par with the rise of personal computing…»