Commercial Real Estate & Business News – March 30, 2022

Scottsdale-based Optima Inc. is planning a $1 billion luxury residential community in north Scottsdale with 1,500 units — the largest of its projects to date. The luxury developer has submitted its pre-application with the city of Scottsdale to begin the approval process…»

US commercial property price growth continued its upward trajectory in February with all four major property types posting double-digit annual price growth, according to Real Capital Analytics. Leading the way was the industrial asset class, whose prices climbed…»

A joint venture of Phoenix and Los Angeles investors expects to break ground within days on a nearly $85 million apartment complex about a mile south of Deer Valley Airport. Moderne Capital Partners, founded in Phoenix in 2020 by multifamily investors…»

The national average for in-place industrial rents across the top 30 U.S. markets reached $6.45 per square foot in February, increasing 4.4% year-over-year. At the same time, the average price of leases signed over the same interval was $7.35 per square foot as of…»

Maricopa County added more new residents than any county in the nation last year, continuing a trend of Maricopa County growth that local officials call a credit to the region’s opportunities and affordability. The Census Bureau said Thursday that the…»