Commercial Real Estate & Business News – October 19, 2017

Institutional investors’ target allocations to real estate averaged 10.1 percent this year, up from 9.9 percent in 2016, a new report finds…»

P.B. Bell, in partnership with Cadence Senior Living, will begin construction on Inspira Arrowhead, a senior housing community within the Aspera mixed-use community in Glendale, Ariz. The project marks P.B.’s return to senior housing. The community is slated for completion in January 2019, with reservations scheduled to begin in mid-2018…»

A large apartment complex in northwest Phoenix has sold for $125.5 million, making it the biggest multifamily property sale in the region so far this year. The 832-unit IMT Deer Valley, near Interstate 17 and Loop 101, was purchased by Florida-based Priderock Capital late last week, according to public real-estate records…»

Romano’s Macaroni Grill filed Wednesday for Chapter 11 bankruptcy protection, though the Denver-based company emphasized the move is meant to try to get out from under leases on 37 closed restaurants rather than to downsize the reorganizing sit-down Italian eatery chain any further…»

What is the purpose of your business? If you are a retailer and your immediate answer is “to sell more products,” you may find times getting tougher in the months and years ahead. To survive and prosper in the new digital economy, the leading retailers are thinking more profoundly. In practice, this means identifying their purpose – the role they play in the lives of customers, both practically and emotionally…»