Commercial Real Estate & Business News – May 2, 2017

Did the labor market rebound after adding just 98,000 jobs in March? That’s the question this week’s economic news will answer. Most analysts believe job growth resumed its solid pace, but another disappointing showing would raise concerns about the economy’s health after the anemic first-quarter growth reported by the government on Friday…»

“I think we’re seeing some normality return,” he says. A few months ago, he was asking, “are we going to ship millions of our workers somewhere else?” Today, however, “there is a bit of a different view.” The checks and balances built into the American system have had an impact. “Now we can say, ‘OK, some of the rhetoric was just rhetoric'”…»

“There seems to be a misconception of how internet sales are overtaking brick and mortar,” he says. While smart retailers are adapting their traditional business models to include what he sees as a very effective sales tool, the impression that brick-and-mortar retail is going the way of the dinosaur is a bit overstated…»

Reports about the effects of e-commerce on commercial real estate usually point to decreased demand for traditional retail space and increased demand for warehouse space near major population centers. As of January, industrial vacancy rates nationwide had dropped for the 27th consecutive quarter. A sizable percentage of new warehouse space is being built on speculation. Industrial real estate has emerged as the preferred asset type among domestic and foreign investors…»

Rio2100, a 52-acre mixed-use development under construction at the intersection of Loop 202 and Loop 101 in Tempe, Ariz., has the announced execution of a 300,000-square-foot build-to-suit lease with Freedom Financial Network…»