Commercial Real Estate & Business News – October 8, 2021

Shoppers will be making up for the spending they missed out on during the pandemic by jacking up their holiday-gift budgets about 25%, according to an estimate by real estate firm JLL that holds promise for retail property owners.“Revenge shopping, the phenomenon where consumers make up for lost time with increased spending, is expected to…»

Glendale City Council is making progress on its ongoing list of proposed annexations to increase industrial development near Loop 303 and Luke Air Force Base.Another 63 acres could be annexed and rezoned for a proposed 1-million-square-foot industrial project south of Northern Avenue between Cotton Lane and Loop 303. The application for…»

McShane Construction Company was selected by Stockdale Capital Partners to provide general construction services for Waterview Residential. Located in Scottsdale, Arizona, the new multi-family development will incorporate 260 units. “We’re thrilled to work on our first project for Stockdale Capital Partners,” shared…»

The for-rent single family home segment continues to stretch into farther out suburbs.Steve Hensley, advisory manager for real estate research firm Zonda, said the for-rent single family developers are eyeing more “tertiary submarkets” such as the San Tan Valley, Buckeye, Casa Grande and Maricopa.Many of those projects are in the…»

Renters are now the majority in 103 suburbs that were previously homeowner territory 10 years ago, and 57 other suburbs are expected to follow suit in the next five years. Many of these suburbs belong to the Miami, Washington, D.C., and Los Angeles metros, with notorious Beverly Hills, CA, among those that flipped. In addition, more…»