Commercial Real Estate & Business News – May 24, 2021

Target Corp. had a record-breaking first quarter as shoppers flocked to its stores and sales of its owned-brands reached an all-time high. “Our performance in the first quarter was outstanding on every measure, and showcased the power of putting…»
Macy’s CEO Jeff Gennette said the chain has “many irons in the fire” as it looks to sell or redevelop portions of its extensive real estate portfolio beyond retail to make better use of its large properties across the United States. He said the New York-based parent…»
Banyan Residential, the private real estate investment firm behind the highly anticipated Scottsdale Entrada mixed-use project, has closed on a $101,500,000 construction loan to finance the 515 additional apartment units that comprise the second phase of the…»
Phoenix multifamily construction has climbed to a record high, but the supply-side risk is not worrying landlords or investors. More than 21,000 multifamily units are under construction across the metropolitan area, and once completed, the new stock will…»
U-Haul customers have spoken, well actually thousands have moved, and Arizona is among the top 5 destinations for one-way moving trucks. Trends data compiled from more than two million one-way U-Haul truck customer transactions in 2020 found Tennessee, Texas,…»