Commercial Real Estate & Business News – February 15, 2023

The Arizona Sports and Tourism Authority estimated the impact of hosting the Super Bowl in 2015 to be $719.4 million[i]. By all accounts, the upcoming 2023 event should be even larger. The entire sector of sports and tourism in Arizona, however…»

An economic impact study conducted by Arizona State University found the 2022 WM Phoenix Open generated nearly a half billion dollars ($453.7 million) into the state of Arizona’s economy. As part of the total economic impact, the study, commissioned…»

City of Industry, California-based Cubework.com Inc. has signed a lease for 100% of the 915,000-square-foot building called Cotton 303 Logistics Center in the Phoenix metro. Cotton 303 is located on the southeast corner of…»

Bank loans for commercial real estate hit a record high in the final three months of 2022, but those lenders also set aside more money to cover potential losses from that financing amid recession fears. For all U.S. banks, fourth-quarter loans…»

Arizona’s housing shortage is straining many renters’ budgets and forcing too many out of their homes. The state’s population has grown faster than the construction of homes and apartments since the Great Recession, and the resulting shortage pushed…»