Commercial Real Estate & Business News September 17, 2018

Baby boomers are still moving to Arizona to retire, despite predictions they wouldn’t. Members of the huge demographic group have vowed they wouldn’t spend their leisure years the way their parents did. But census data and new rankings show they are ending up in many of the same states, and some of the same neighborhoods. Arizona is behind only Florida for drawing the most retirees…»

Starbucks Coffee Co. took the opportunity at the Global Action Summit on Thursday to announce a “Starbucks Greener Stores” framework and a commitment to design, build and operate 10,000 “Greener Stores” globally by 2025. Company officials say the framework will be built upon comprehensive performance criteria that help ensure the company’s approach to designing, building, and operating its company-owned stores sets a new standard for green retail. Starbucks will develop in the next year …»

Hall Structured Finance, a Dallas-based private real estate lender, has provided $53 million in debt to fund the redevelopment of a resort near Scottsdale, Ariz., the company announced yesterday. The money will allow the property’s owner, entrepreneur Bill Hinz, to expand what is currently a 32-room hotel called CopperWynd Resort into a 177-room lodging…»

A growing demand for e-commerce business and co-working sites in Mexico could provide plenty of economic opportunities for Phoenix and Arizona, according to commercial real estate brokers on both sides of the border. About 35 percent of industrial demand in Mexico City is for e-commerce-related uses, and co-working now makes up 5 percent of office demand, said Lyman Daniels, president of CBRE Mexico at an event Sept. 13 hosted by the Phoenix Urban Land Institute chapter. …»

Investors are snatching up old apartments at a rapid pace in metro Phoenix, investing millions to renovate them and raising rents when they’re all spruced up. It’s one way they’re able to compete with the new resort-style apartment complexes being built around the region. Renters in these older complexes