Commercial Real Estate & Business News October 23, 2018

Accountants poring over the Treasury Department’s newly issued guidelines for Opportunity Zone tax incentives say they are uncovering additional benefits for commercial real estate investors such as allowing borrowed funds to be used for improvements. The incentives created by the 2017 Tax Cuts and Jobs Act are designed…»
Industrial activity in the Phoenix market is outpacing many other markets as e-commerce, manufacturing and other activity draws more investors to the region, according to a report released by Real Capital Markets. According to the report, investment in industrial properties is expected to remain strong for the foreseeable future nationwide.…»
A no-frills German discount-grocery chain that sells its own brand is making its first foray into Arizona with two locations planned for Gilbert. The planning commission approved the site plan for an Aldi grocery store at the southeast corner of Arizona Avenue and Desert Lane in September, and last week it reviewed the site plan for a second location at the southwest corner…»
The Scottsdale City Council gave the stamp of approval to redevelopment plans of the former Don & Charlie’s restaurant in Old Town, which will be razed and developed into a hotel. “We are trying to honor (restaurant owner Don Carson’s) legacy by unlocking value within the downtown overlay,” said Tyler Kent, managing director of OpWest Partners, the project developer…»
Lots of measures are telling us that the United States labor market is doing well. In some cases, very well. Most prominently, the unemployment rate has fallen steadily over the last nine years. It dipped to 3.7 percent in September, and it has averaged 4 percent over the past year, the same as it did at the economic peak just before the 2001 recession.…»