Commercial Real Estate & Business News – March 11, 2024

The competition among grocers is growing even fiercer, with German discount supermarket chain Aldi planning to add 800 stores across the United States to its fleet during the next five years in a $9 billion expansion. Aldi, with domestic operations based in Batavia, Illinois, said Thursday…»

The Phoenix and Raleigh, North Carolina, retail markets were firing on all cylinders last year as they were the only major U.S. markets where annual asking rent growth exceeded 9% in 2023, earning them the top spots in the nation’s ranking. Though these two high-growth Sun…»

The city of Phoenix is moving forward with a major rezoning at the former Motorola and Onsemi manufacturing campus. Baker Development Corp., which has been working to redevelop the site for several years, received initial approval to rezone 67 acres from the Camelback East Village…»

Developers proposed a 178-acre data center hub with 11 buildings in southeast Mesa along Pecos and Crismon roads. The property owner Pacific Proving LLC submitted the preliminary paperwork to the city on Monday to develop the area as a data center and technology employment…»

The single-family home inventory grew nearly 8% in February compared to meager 2023 numbers, and the number of families closing on their new homes increased 1.5% so far this year compared to the same period last year, according to the latest Metro Phoenix residential housing…»