Commercial Real Estate & Business News – February 26, 2021

Retail sales in the U.S. this year are expected to total more than $4.33 trillion as more individuals receive the COVID vaccine and the economy reopens. That’s according to the National Retail Federation’s just-released annual forecast, which estimates that 2021 retail sales will grow between 6.5% to 8.2% over last…»

The Tempe City Council is hoping to spur development by annexing part of a county island that they say has become an eyesore. The 78 acre parcel of land is north of the Loop 202 and east of Scottsdale Road. The Tempe City Council recently annexed 17 acres on the east side of the county…»

Scottsdale-based Taylor Morrison Home Corp. (NYSE: TMHC) has purchased 178 acres for $25 million along Loop 303 in the West Valley. The nation’s fifth-largest homebuilder bought the land on each side of Loop 303 just north of West Peoria Avenue in the city of Surprise. Taylor Morrison and KB Home…»

Creation bought 76.35 acres of land in Buckeye for $7,398,775, according to the commercial real estate tracking website Vizzda. The seller was Miller Park LLC.LGE Design Build plans to build a a speculative development on the land for its client, Creation. The land is located at the northwest corner of Miller Road…»

DR Horton bought 62.02 acres of land in Maricopa for $16,744,000, according to the commercial real estate tracking website Vizzda. The seller was McRae Group of Companies. The land includes 220 partially-improved lots in Tortosa South. McRae Group of Companies had previously purchased these lots…»