Commercial Real Estate & Business News June 27, 2019

Phoenix Retail Investors Are Betting on Growth Continuing Its Push Into East Valley’s Exurbs Retail investors continue to move their chips to Phoenix’s fast-growing exurbs with high household incomes. Affluent East Valley submarkets Gilbert and Queen Creek have been the favorites, accounting for about one-quarter of the more than $800 million in retail sales volume through late June. Queen Creek and Gilbert are well positioned for…»
Phoenix’s Emerging South Mountain Loop 202 Submarket Chosen for New Commerce Park
Trammell Crow Company (TCC) today announced plans for a new Class A speculative commerce park in Metro Phoenix. The project will sit on 48 acres and be comprised of one to three buildings totaling approximately 700,000 square feet. The site is located on the Gila River Indian Community (GRIC), at the southwest corner of…»
Construction Starts Rise 10% in May
New construction starts in May climbed 10% from April, according to Dodge Data & Analytics. The increase continues the double-digit swings that were reported during the previous two months, when a 16% hike for total construction starts in March was followed by a 15% decline in April. Each of the three main construction sectors…»
The Risks of Drafting Off Apartment Demographics
In the race to capture additional apartment demand, many multifamily investors are drafting off demographics, betting that areas experiencing in-migration growth will also see substantial demand for rental housing. Indeed, CoStar data indicates that the broad apartment market remains quite strong, with renter demand soaring to…»
Out with the Old: Embracing the Value of Evolved Retail Centers
Store closures are an all too common occurrence nowadays, with announcements hitting the news cycle on a semi-weekly basis. Mass closings by household names like Victoria’s Secret, Gap, and J.C. Penney have raised concerns amongst developers that traditional retail centers are in danger of extinction as e-commerce gains steam. Fortunately, the…»