Commercial Real Estate & Business News – June 28, 2023

Historically tight market conditions driven by robust population growth and healthy consumer spending have sent rents surging in the Phoenix retail market. Annual rent growth surpassed 9% in the second quarter of 2023, one of the best performances in the country and triple the market’s…»

Buckeye has become a growing hotspot for industrial development as more projects progress in the fast-growing city. This month, Scottsdale-based Martens Development broke ground on its planned Mission Park industrial project that will cover…»

Arizona Mills will become the first “Picklemall” in America when one of its vacant big-box stores transforms into 24 championship-style pickleball courts this July. State of play: Billionaire Major League Pickleball founder Steve Kuhn is funding the conversion of 50 vacant department stores…»

The Tempe Development Review Commission will hold public comment on the city’s proposed general plan through 2050 at 6 p.m. on Tuesday. It serves as a guide for boards and Tempe City Council to reference when considering development projects. A series of public hearings will…»

The Biden administration announced that more than $40 billion would be distributed across the country to deliver high-speed internet in places where there’s either no service, or service is too slow. Arizona’s portion is more than $993 million. The funding comes from the…»