Commercial Real Estate & Business News – November 9, 2022

A new developer is planning to build one of its first industrial projects in Arizona with a massive park proposed for a new industrial corridor in the Valley. The new industrial and technology facility will total 1.7 million square feet across…»

CoreLogic says that housing recessions do not always lead to overall recessions. In fact, in recent years, housing downturns are batting just .500 with that correlation. “Recently, housing has been losing its status as a reliable predictor of recessions”…»

Food giant Nestle USA revealed its plans earlier this year to build a 630,000-square-foot food and beverage manufacturing plant in the Phoenix metro. The famous brand said it will invest $675 million and bring 350 new jobs to the Glendale area with its…»

Tempe voters might have the final say on whether the owner of the Arizona Coyotes will develop a landfill into a multibillion-dollar entertainment district with an arena, hotels, restaurants, retail, offices and more than 2,000 apartments. Tempe City Council announced…»

U.S. apartment rents declined for the third straight month in October as the rapid rise in Sun Belt markets ebbs. Palm Beach, Florida, was the only market in the nation where rents rose in October from the previous month, according to the latest report…»