Commercial Real Estate & Business News November 22, 2019

Look Who’s Trending High in Multifamily Markets The multifamily market is on track to deliver another stellar year as numbers continue to come in from October’s performance. Yardi Matrix reports that average US rents rose $1 for the month to $1,476, reaching yet another all-time high, while year-over-year growth has been at least 3% for more than a year. Indeed, rent growth has…»
Nation’s Largest Homebuilder in Escrow to Buy Key Chunk of East Valley Land
Miami-based Lennar Corp. (NYSE: LEN) is in escrow to buy one of the last remaining large parcels of land in Gilbert.The deal to acquire 90 acres is expected to close within the next couple of weeks, said Ed Grant, executive vice president of Scottsdale Investment Management, who is selling the land to the nation’s largest…»
Big-Box Store Landlords Can See Signs Shoppers Are Still Spending
Some big-box store and mall owners have reason for a sigh of relief: Consumers are still spending and could keep that up throughout the crucial holiday shopping season and into 2020, lifting any concerns of an immediate acceleration in store closings. Peering into the earnings results of some the nation’s predominant big-box discounters like…»
Grocery-Anchored Shopping Centers Remain the Safest Retail Bet
Grocery-anchored shopping centers remain a sweet spot for investors shopping for retail properties in an extremely volatile environment, and one in which overall retail transaction volume is down significantly. Investors prefer assets anchored by grocers because they see them as less vulnerable to competition from e-commerce and a big traffic driver that…»
Some Aldi Store Openings in Phoenix Area Might be Delayed
Discount grocery store chain Aldi is expected to bring its national expansion to metro Phoenix, but plans for Phoenix-area stores appear to have slowed down. Despite buying more than a dozen buildings in the Valley, permits with several cities have expired. Locations that were expected to open late this year or early in 2020 don’t…»