Retail

The 65,000-square-foot store will be located in the first of two towers under development at 60 North 23rd St. by PMC Property Group.

The gaming board report later notes that the amount of profit relative to total development costs, inclusive of licensing and reconciliation fees, would be at best result in a 1% or 2% return annually, which is not an acceptable rate of return for a casino developer on a greenfield project.

The first phase of the Block in Scottsdale delivers fully leased to a roster of national tenants.

Approximately 40% of the building’s units are leased to Sonder, a short-term rental start-up in nearly 30 cities that recently surpassed a valuation of more than $1 billion.

The 21st Century Redevelopment Program was created last year in response to a number of demographic and economic trends that resulted in many suburban office parks and shopping malls becoming empty or underutilized.

Coinciding with Understory’s grand opening this week, a long-term agreement has been reached to bring a new cocktail bar, Silver Lining, to the culinary market at the Bank of America Tower.