Commercial Real Estate & Business News – August 27, 2024

The start of interest rate cuts is imminent, according to remarks made Friday by Federal Reserve Chair Jerome Powell, who expressed confidence that inflation is within reach of the U.S. central bank’s 2 percent target. “The time has come for policy to adjust,” Powell said in a highly anticipated speech…»

Phoenix-based supermarket chain Sprouts Farmers Market is opening two new Valley stores this year, as it expands its footprint nationwide.The two new Valley stores will be in Gilbert and Avondale, with both planned to open in October. The Gilbert location, at Higley and Baseline roads, will open…»

The site of a new luxury hotel and apartments in Old Town Scottsdale will soon be more than just a big hole in the ground. The pending completion of work on an underground parking garage between Indian School Road and Third Avenue, just west of Scottsdale Road, heralded the start of…»

Right now, Americans are finding themselves navigating two different living situations: to buy or to rent. A significant portion of the U.S. population is renting for a longer period of time whether due to financial or personal factors. But in Buckeye, homeownership is king as the West Valley city leads the nation with…»

Land prices are through the roof in some of the Valley’s luxury residential markets, according to research conducted exclusively for Phoenix Business Journal. Looking at land prices over the past three years, J. Andrew Turley, president of Phoenix Valuations, found land prices doubled in…»