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Commercial Real Estate & Business News – November 22, 2023

Walmart Q3 Tops Estimates on Strong U.S. Sales; Strikes Cautious Note

Walmart reported third-quarter earnings and revenue that topped expectations with growth across all segments. Grocery once again led U.S. sales. The retail giant also raised its annual outlook, although it came in slightly below what analysts were expecting. On the company’s…»

More Remote-Only Workers Shift to Hybrid in Some Major US Cities

Researchers See Less Financial Fallout for Landlords When Workers Spend Some Time in Offices. The hybrid work model is increasingly more common as formerly remote workers head back to offices for at least part of the week, a shift that’s causing fewer headaches for landlords, according…»

Tempe Marketplace Lures New Tenants Including Nike, Lululemon, LumberjAxes

PHOENIX — Adding to their roster of stores, Tempe Marketplace has 11 new tenants including Lululemon, Nike, LumberjAxes, Handel’s Ice Cream and Escapology, which are already welcoming customers. In the coming months, brands including J. Crew, Rowan Piercing, Pandora…»

Where Are the Hottest Neighborhoods for New Apartments?

A total of 1.2 million rental units came online across major U.S. cities since 2018. A new report from RentCafe, leveraging Yardi Matrix data, looked at the 50 largest metros, ranking zip codes based on how many units were added over the past five years. Large amounts of new units…»

‘A Preservationist’s Dream’: How Adaptive Reuse Is Making What’s Old New Again In Phoenix

In an age where developers are exploring urban expansion with an eye toward adopting more sustainable building practices, adaptive reuse has emerged as a beacon, offering benefits that positively transform existing neighborhoods and cities. Adaptive reuse is a sustainable and innovative…»