Commercial Real Estate & Business News – April 3, 2023

PHOENIX — For the second consecutive year, more people have been moving to Maricopa County than any other county in the nation, according to data released released Thursday by the U.S. Census Bureau. Maricopa County’s population grew…»

Tampa, Florida-based Cedar Grove Group is planning to transform an office building into new apartments a couple miles east of the former Metrocenter mall in Phoenix. The three-story office building is located at…»

Even with slightly increasing vacancy rates brought on by record levels of new supply, demand for industrial space remains strong. Developers continue to feed the pipeline, with 691 million square feet under construction across the country as of January…»

Call it success, squared. One of the first buildings at St. Louis-based CRG’s inaugural Phoenix project, a massive industrial park called The Cubes at Glendale, not only leased up quickly but sold almost as fast. Over the course of 2022…»

Homebuilding in metro Phoenix slowed drastically in mid-2022 and buyers ran for cover after rising mortgage interest rates caused potential homebuyers to hit the pause button. Tina Tamboer, senior housing analyst for The Cromford Report…»