Commercial Real Estate & Business News – March 23, 2022

South Korea-based electronics giant LG is planning a $2.8 billion plant in Queen Creek, which town documents say will create 2,800 jobs and include 1 million square feet of new development. Queen Creek Town Council voted at its March 16 meeting on…»

A New York real estate investment firm is teaming with an active national multifamily developer to build an apartment complex in Phoenix’s southwest area. A joint venture of CP Capital and Wood Partners expects to start construction before the…»

Redfin reported the largest year-over-year national apartment rent increase since 2020 when February’s rise came in at 15 percent while mortgage payments spiked by 31 percent. Both figures are the highest since Redfin began tracking this in 2019. The…»

PHOENIX (3TV/CBS 5) — Institutional real estate investors have turned their attention to the Phoenix housing market. Tenants say the result is rising rent prices, but economists say they’re not so sure investors are to blame. According to Redfin, more than…»

Four of the Esplanade office buildings were purchased by a partnership between New York-based Monarch Alternative Capital and Connecticut-based Tourmaline Capital Partners in a deal valued at $353 million. The Business Journal first reported on…»