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Commercial Real Estate & Business News – June 26, 2023

ADOT Approves 5-year Construction Plan that Includes Multiple Arizona Highway ExpansionsThe Freddie The Arizona State Transportation Board approved a five-year modernization and preservation plan that includes funding to expand multiple highways in the state. The 2024-2028 Five-Year Construction Program includes more than $9 billion in transportation…»
Here is Where the Job Gains Are Concentrated

Employment gains in top national markets continue to stay strong, per Bureau of Labor Statistics data that showed gains neared almost 350,000 jobs last month, even as unemployment climbed to 3.7% from 3.4%, an indication that those looking for a job want…»
Commercial real estate challenged, but not distressed: Analyst

Commercial real estate has faced continued challenges amid the growing trend of hybrid work. Willy Walker, Walker & Dunlop CEO breaks down why are lenders concerned. Video TranscriptNEWS ANCHOR: Commercial real estate concerns are on the rise…»
724K SF Mission Park industrial Project Breaks Ground in Buckeye

Martens Development, a Scottsdale-based development firm that is active throughout the Phoenix market, and its general contracting partner Willmeng Construction, broke ground on a Class A industrial development, Mission Park. This two-building, 723,508-square-foot…»
Huge Development near Phoenix-Mesa Gateway Airport could Bring Restaurants, Hotels to Industrial Area

A massive development that will include office buildings, restaurants, shops, hotels and large-scale industrial space on 273 acres near the Phoenix-Mesa Gateway Airport got the final nod of approval needed from the city. The project, called Gateway…»