Commercial Real Estate & Business News – November 20, 2017

Heading into the holiday shopping season, the story around retail isn’t all gloom and doom. Especially after a handful of impressive quarterly earnings reports last week, which boosted overall industry moral. My hope is that the momentum will spill over to retailers’ landlords, too, which have been beaten down for much of the year on account of exasperated headlines…»

The traditional office environment is splintering with design elements and use terms that are increasingly customized to the specific needs of the user. Themes such as creative office architecture as well as short-term rentals of office space permeate the environment, particularly for technology companies that want to attract top talent by offering the best amenities; short-term lease arrangements, often referred to as “co-working,” are also increasingly common to give companies flexibility with new projects and to reduce financial risk for both tenants and landlords…»

The deal seems to be an attempt to stem the criticism and to prove that retail could also benefit from the fresh thinking WeWork has already infused into offices. Hudson’s Bay has already embraced the popular notion of “experiential retail,” with The Wellery at Saks. In August the luxury retailer converted 16,000 square-feet formerly occupied by ready-to-wear into an upscale fitness emporium. There are two workout studios, salt rooms and a vegan nail salon…»

Restaurants took Gilbert’s image from vanilla suburbia to having a millennial- appealing foodie niche that could draw employers that otherwise might prefer a more urban market. Gilbert Mayor Jenn Daniels said her town has created a sense of place while trying to keep its small-town vibe within the sprawling Phoenix market…»

As trade between the U.S, Mexico and Canada is debated by top negotiators in Mexico City as part of NAFTA, one Arizona city is working on a long-term million-dollar project that would potentially increase direct trade with Mexico. The Phoenix-Mesa Gateway Airport Authority Board will vote in the next few days to approve a master development agreement with the company Mesa Skybridge for an infrastructure project at the airport. The project, if approved, would include a program to facilitate cargo processing that goes to Mexico by bringing Mexican customs officials to the Valley airport, otherwise known as the Unified Cargo Processing Program, recently created by the U.S. Customs and Border Protection…»