Commercial Real Estate & Business News September 21, 2018

The Phoenix metropolitan area’s gross domestic product grew 3.4 percent during 2017, ranking the area 55th out of 387 areas studied for growth in the year. The GDP of the area has grown consistently since 2013, and experienced a 2.3 percent increase in 2016, according to data from the U.S. Department of Commerce’s Bureau of Economic Analysis. In total, the area’s GDP was nearly…»
Predicting the exact trajectory of the cycle is one of the great pastimes of the commercial real estate industry, and while it is important to track the national economic cycle and patterns, each market is also running on its own cycle. Phoenix was impacted substantially by the recession-one of the most troubled markets in the country-but it is now in full recovery. As a result, while…»
Phoenix has been ripe with value-add opportunities for multifamily investors this cycle. And while the market still has some meat left on the bone, especially relative to other major U.S. metros, rehab projects are slowing so far in 2018. On average, more than 2,500 units were renovated annually from 2012 to 2017. This year, fewer than 400 units received renovations through…»
While all eyes have been on Amazon’s astronomical growth and its imminent decision on where to locate a second headquarters, the rest of the technology community has been gobbling up space to establish offices near hubs of talented workers across the country so quickly in the past five years that the industry has almost doubled its national real estate footprint.…»
While Walmart is increasingly cognizant about competing with Amazon and other online retailers in growing its e-commerce volume, the retail behemoth hasn’t lost a step at its stores. It’s omnichannel strategy includes beefing up its online sales, improving its mobile and same-day delivery capabilities and broadening its appeal to shoppers. The result: In the second quarter…»