Commercial Real Estate & Business News – November 10, 2020

The CRE Community Awaits a Biden Administration
This weekend, four days after the presidential election was held, several media outlets called the state of Pennsylvania for former Vice President Joe Biden. He had won its electoral votes and along with them, the presidency. President Donald Trump has not conceded and has promised…»
Arizona Marijuana Shops Spend Millions to Expand Ahead of Recreational Sales Legalized by Proposition 207
Marijuana businesses are spending millions to expand their operations and buy new medical licenses in Arizona, as the passage of Proposition 207 by voters on Election Day will allow sales of recreational marijuana to adults in about four months. The businesses are expected to hire thousands…»
DSTs Gain Favor as a Fractional CRE Ownership Structure
Dr. Steve Rogers of Falls Church, Va. is four years into his first fractional real estate investment, and he couldn’t be happier. The former veterinarian sold his business and the building it was housed in when he retired. Rather than paying a steep tax bill on the capital gain, he opted to roll his $1 million…»
Valley Mall Owner Sees Uptick in New Leases During Third Quarter
While brick-and-mortar retail was one of the industries hit the hardest during the Covid-19 pandemic, the owner of several shopping malls in the Phoenix area expressed optimism when looking ahead to the holiday shopping season and next year due to pent-up customer demand…»
Northpointe at Vistancia Starts Construction on 10-acre Amenity Site
Northpointe at Vistancia, located within the 7,100-acre Vistancia master plan in north Peoria, has broken ground on a 10-acre amenity site that includes a 5,300-square-foot recreation center called The Sovita Club, centrally located in the first phase of Vistancia’s finale community…»