Commercial Real Estate & Business News – August 28, 2015

American consumers are finally spending again, which is good news for retailers and retail property owners. The increased spending corresponds to improved consumer confidence, and experts expect that trend to continue...Read more »
Pending home sales were mostly unchanged in July, but rose modestly for the sixth time in seven months, according to the National Association of Realtors. But annually the July rate was up 7 percent over July 2014. Consensus expectation was for a 1 percent gain over the seasonally adjusted sales rate for June, following an upwardly revised decline of 1.7 percent last month... Read more »
The first phase of the 398-acre NorTerra mixed-use project in Phoenix is expected to have 300 to 400 residential lots and multi-family sites available to builders in 2016. The property, located at the northwest corner of 19th Avenue and Happy Valley Road, is part of a 578-acre tract being developed by USAA Real Estate Co...Read more »
Los Angeles-based Regent Properties is the new owner of the North Loop 101 Business Center located at the southwest corner of 7th Avenue and the 101 Freeway. The 259,142 square foot office sold for a price of $41.75 million or $161 per square foot, and was funded by a $29.5 million loan with Compass Bank... Read more »
The company said it has teamed up with Ibotta, a smartphone app that allows shoppers to earn coupons when they answer a short survey on their phone. It is also equipping store directors with iPads, which allow them to record mystery shoppers in action, see how team members on the sales floor behave with an eye toward improving the way they serve customers, and make sure the stores are meeting or exceeding industry and food safety compliance standards... Read more »

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