Commercial Real Estate & Business News – March 11, 2022

Food and beverage powerhouse Nestlé USA said Wednesday it plans to build a $675 million factory in Glendale to make creamers, including those based on oat milk, for Coffee mate, Starbucks and other brands. The facility is estimated to bring…»
SB Real Estate Partners (“SBREP”) has acquired Cantamar Apartments, a 180-unit garden style multifamily community in Glendale, AZ for $58.1 million. The property will be rebranded as Portola On Bell. SBREP has been an active investor in the…»
Philadelphia-based Korman Communities and New York-based RXR are making their Phoenix debut with the joint venture purchase of a new apartment community recently built in downtown Phoenix. The joint venture under the name…»
The faster-than-expected improvement in room demand seen in weekend and leisure destination travel has operators of downtown hotels wondering when they will get to participate in the recovery. But if recent travel screening counts from…»
As the Phoenix economy has recovered since the pandemic-induced recession, fast-growing industries such as distribution and manufacturing have grown larger than they were pre-Covid, driving demand for…»