Commercial Real Estate & Business News – February 16, 2024

JE Dunn Construction and Hatteras Sky announced a major milestone, as its newest development in Phoenix, Saiya, celebrated its official “topping out” last month. The 23-story apartment high-rise project, located at First Avenue and West McKinley Street, broke ground in July…»

Arizona, especially the Phoenix metro area, continues to be one of the nation’s hot spots for new multifamily supply as well as demand. Phoenix was one of the 12 U.S. metro areas to add at least 7,000 net new apartment households last year and ranked among the top…»

Diversified Partners has broken ground on Eastgate Plaza, a 17-acre mixed-use project in Mesa. Tenants at the development will include Starbucks Coffee, d’Lite, Pure Barre, Fix FX, Fresh Monkee, Playa Bowls, Kolache Café, Farmer Boys, Ono Hawaiian BBQ, Vero Chicago Pizza…»

A new mixed-use project with apartments and 100,000 square feet of commercial space is being proposed for a growing area in the northwest part of metro Phoenix in Surprise. Called Desert Arroyo, the development has been planned for about 42 acres at the northeast…»

Attempting to determine what will happen with the economy, commercial real estate and capital markets over the next 12 months is an activity that could backfire. A year ago, the focus was on a recession, which never materialized. Other issues of concern included record-high…»