Commercial Real Estate & Business News – March 15, 2021

The tourism industry was thrown for a loop in 2020 as occupancy rates dropped as out of state visitors lessened and the normally high economic impact from Arizona’s resorts and attractions took a large hit unlike any in recent years. However, Scottsdale, one of the state’s biggest…»

The Statesman Group of Companies has garnered a premium price in the sale of Montreux, a luxury apartment property in the Desert Ridge area of North Phoenix. The developer sold the 335-unit project at 5550 E. Deer Valley Drive to Los Angeles-based investment and development…»

The oldest operating indoor mall in Phoenix, Christown Spectrum, is set for a massive adaptive reuse project, which aims to include office, apartments, retail, entertainment and hotel uses on the 98-acre mall site. “Christown Spectrum intends to accommodate the full spectrum of business…»

Home Depot is planning to hire more than 1,600 full- and part-time employees locally as it gears up for the busy spring season. The giant retailer also is buoyed by brisk home sales and an increase in renovation activity. It posted a 25% sales increase in its most recent quarter…»

A local investor bought the Days Inn & Suites Scottsdale North in Scottsdale, Arizona, and plans to renovate and rebrand the property as a boutique-style hotel to take advantage of the increasing number of entertainment and tourism options coming to the Phoenix suburb…»