Good morning, investors. In today’s commercial real estate news—Sin City keeps growing, a collection of creative office spaces with jaw-dropping price tags, and PetSmart puts a collar around its largest online competitor.
Investors in Las Vegas hit the jackpot last year with a confident economy and a demand for rentals. The mining, logging and construction and the leisure and hospitality sectors all saw growth in 2016.
A short gallery of five creative office spaces that fetched “staggering” returns for their investors. In the last several years, the category has gone from a niche, to a formidable player in the commercial real estate market.
The transfer from brick-and-mortar to digital continues. PetSmart has acquired Chewy, a pet supply web-only retailer founded in 2011 that’s grown rapidly in the pet sector. The deal is one of the largest in e-commerce history with an alleged price tag of 3.35 billion.