Commercial Real Estate & Business News – March 9, 2022

The commercial real estate industry has experienced dramatic change since the onset of the pandemic. Remote work impacted the demand for office space; a surge in e-commerce was a boon for the industrial market, yet a damper for retail…»
Amazon is trimming back its physical footprint by eliminating a couple of its brick-and-mortar banners. The company plans to close 68 brick-and-mortar stores, including its Amazon Books locations and Amazon 4-star locations, along with Amazon Pop Up sites…»
The U.S. hotel industry sold the most hotel room nights since late October, as the latest weekly performance data shows that while geopolitical tensions around the Russian invasion of Ukraine have elevated gas prices, there has been no noticeable effect on…»
After the Covid-19 pandemic delayed construction, the $125 million Omni Tempe Hotel at Arizona State University is on track to be open around May of 2023. The hotel “topped out” on Thursday, meaning the last beam was placed in the structure…»
The cost to build or improve a home since the start of the pandemic has skyrocketed because of the rising prices of lumber, and lumber prices haven’t settled after returning to pre-pandemic levels during Summer 2021. Futures contracts fell to…»