Commercial Real Estate & Business News – May 26, 2017

Phoenix is tops in the U.S. for population growth, according to new data from the U.S. Census Bureau. Phoenix added 32,113 persons to its population between July 2015 and July 2016. That’s more than any other city in the U.S. Los Angeles added 27,173, San Antonio 24,473 and New York 21,171 persons …»
About 37,000 retailers, retail brokers, investors and other retail professionals gathered in Las Vegas this week for RECon, the industry’s largest trade convention, amid a tangible sense of frustration — not so much about the retail real estate business, which remains uniformly good…»

The release of the Federal Reserve’s minutes makes clear that another rate hike is coming soon, most likely in June. To be specific, the minutes indicated that the Fed wants to see evidence of stronger economic growth before approving another increase to its benchmark interest…»

The Phoenix Country Club is considering development plans for its parking lot areas at Thomas Road and Seventh Street. The plans – which still are preliminary and under consideration – would bring a high-rise condo development to the club’s lots.…»
Mention regional malls these days and images of shuttered stores pervade the public imagination. For retail real estate investors, some of that is grounded in truth. Since the beginning of 2017, more than 10 retail chains have filed for bankruptcy…»