Commercial Real Estate & Business News – September 20, 2017

While market prices suggest less certainty, 76 percent of respondents to the CNBC Fed Survey believe the central bank will hike interest rates in December. Various market-based gauges put the probability at 43 to 55 percent. On average, respondents to the survey see two to three hikes next year, and the Fed is forecast to finish its rate hike cycle in the second quarter of 2019 at a 2.9 percent rate…»
Amazon expanded its partnership with Kohl’s on Tuesday with the launch of a new service that lets customers return their purchases through select Kohl’s stores in the U.S. The partnership is the latest in Amazon’s retail expansion efforts. The e-commerce company has been aggressively growing its physical presence in recent years, which now spans hundreds of Whole Foods stores…»
Toys R Us plans to use its bankruptcy filing as a way to reemerge on the cutting edge of the retail world, closing underperforming stores and transforming others into “interactive spaces” to thrill both adult and pint-sized customers. The big-box retailer did not specify how many of its 1,600 stores it plans to shutter but acknowledged in a court filing Tuesday that “leases are a substantial burden”…»
Drive Shack has unveiled plans to open a new golf-based entertainment venue in the Phoenix market – the company’s fourth location. The leisure business specialist received approval recently for a 60K SF complex at Bethany Home Road and 99th Avenue, just off Loop 101 and directly across from the University of Phoenix Stadium. The property will be a year-round sports entertainment facility…»
An idea that came to him as an Arizona State junior turned Tom Hatten into a successful entrepreneur. His company, Mountainside Fitness, is celebrating its 25th anniversary and opened a 14th location this summer at the Marina Heights development on Tempe Town Lake. “It’s taken decades (to build the brand)…»