Commercial Real Estate & Business News September 18, 2019

Big or Small? Retailers Take Different Tacks on Store Size In a rapidly changing retail environment, one of the challenges for operators is defining the size of their new stores. At the Groceryshop event in Las Vegas, two of the industry’s leaders offered different takes on the age-old question “Does size matter?” in a session titled “New Store Formats & Footprints. “For Kroger, the nation’s largest…»
EV-Tucson Freeway Route Chosen
An alternative to the crowded and dangerous trip on Interstate 10 to Tucson is on the horizon for East Valley drivers. The Arizona Department of Transportation has identified a proposed route for what it calls the North-South Corridor, a freeway that would run 55 miles from the East Valley through Pinal County. The agency also released a draft…»
Deloitte: Retailers Should be Happy with Holiday Sales this Year
Robust e-commerce growth is expected to help drive higher overall holiday spending. According to Deloitte’s annual holiday forecast, holiday retail sales are likely to increase between 4.5% and 5% year-over-year in 2019. Overall, Deloitte’s retail and distribution practice projects that holiday sales will exceed $1.1 trillion during the…»
New York Investor Pays $90.2M for Two Hensley Industrial Facilities in Valley
New York-based Broadstone Real Estate paid $90.2 million for two Hensley Beverage Co. properties in metro Phoenix, according to Vizzda LLC real estate database. Broadstone HBC Arizona LLC paid $57.68 million to an entity tracing to Angelo Gordon & Co. for the 305,998-square-foot Hensley industrial building at 4201 N. 45th Ave. in…»
Ducey May Want to ‘Tinker’ with Rental Law
Acknowledging it hasn’t quite worked as promoted, Gov. Doug Ducey wants to take a new look at legislation he signed three years ago that pretty much stripped cities of their ability to regulate vacation rentals. The governor said Thursday he still believes in the rights of individuals to be able to rent out rooms in their homes – and their…»