Retail innovation and renovation drive construction growth in 2016

A strong retail sector has helped drive 2016 U.S. construction activity with retail construction projects up 24.4 percent year-over-year. But overshadowing the good news is a cloud of economic uncertainty that has companies laser-focused on lean budgeting and smart spending decisions. According to JLL’s latest report on non-residential construction activity, U.S. construction employment grew 4.7 percent in the first quarter of 2016 over the first quarter of 2015, with many workers engaged on retail projects. Concerns about China’s steep economic deceleration, combined with a drop in U.S. gross domestic product (GDP) from 1.4 percent in the fourth quarter of 2015 to 0.5 percent in the first quarter of 2016, have made companies reluctant to invest. Here’s a look at the report. For now, the market for commercial construction remains active. The JLL report shows a strong first quarter with steady growth projected for second quarter. The office, industrial and retail sectors are very active as companies continue projects that broke ground a year or two ago. A hint of the economic clouds causing concern comes from a small decline in office construction
Canada’s MTY to acquire Cold Stone parent Kahala Brands
Quebec-based MTY Food Group will buy Scottsdale, Ariz.-based Kahala Brands in a cash-and-stock deal valued at $300 million, the companies said Wednesday. Kahala’s 18 brands include Cold Stone Creamery and Blimpie. After the deal closes, MTY will operate about 5,500 global stores under 57 brands. Read the The Arizona Republic story here
https://www.azcentral.com/story/money/business/2016/05/25/quebec-fast-food-company-buy-scottsdale-based-cold-stone-creamery-parent-kahala-brands-300m-sale/84921890/