Commercial Real Estate & Business News – January 13, 2022

Three years ago, West Fillmore Street in downtown Phoenix was a desolate patchwork of empty lots, crumbling one-story buildings and dilapidated houses. Today, the area just a few blocks from City Hall pulses with the sound of skip loaders, forklifts and cement mixers. Lennar, Toll Brothers, Trammell Crow and other developers are building thousands of apartments for renters who want to…»

A shuttered golf course in Queen Creek at Ironwood and Ocotillo roads will be redeveloped into houses and apartments after being purchased by a Scottsdale developer. According to real estate database Vizzda, Diversified Partners bought the Links at Queen Creek golf course for a total of $16.8 million, and sold a portion of…»

The single-family rental market is on fire. As millennials have children, they crave the sprawl of the suburbs where homes are larger and equipped with yards—and investors and developers are hurrying to meet the demand. Brad Hunter, president of Hunter Housing Economics and the keynote speaker at GlobeSt.com Multifamily next month, predicts that…»

While total office leasing remains 34% below pre-COVID levels, activity is up more than 50% from the lowest point observed during the COVID crisis, back in 2020. Pre-COVID average quarterly leasing volume totaled around 59 million square feet since 2016, according to a new analysis from JLL, while last quarter’s figures clocked in…»

Land Advisors Organization announced it recently helped facilitate the sale of 327 single-family platted lots at the Avion at Ballpark Village, on behalf of Communities Southwest, in a $20.2 million transaction. The 75-acre parcel is part of the first phase of the development, which is located in Goodyear, Arizona. Land Advisors Organization professionals…»