Commercial Real Estate & Business News – April 6, 2022
Sam Fox Recruits Devin Booker, Larry Fitzgerald and Dierks Bentley to Invest in his Phoenix Hotel Project If there wasn’t enough buzz already around the upcoming Global Ambassador hotel being developed by famed restaurateur Sam Fox in Phoenix’s Arcadia neighborhood, now celebrities are involved in the project. Fox, who has become a leader in…» Contested […]
Commercial Real Estate & Business News – April 5, 2022
Semiconductor Supplier Acquires Land in Mesa for New Facility A longtime Valley semiconductor materials provider has acquired land in Mesa for a new facility, which will create more than 100 jobs. JX Nippon Mining & Metals USA Inc., which is a subsidiary of Tokyo-based JX Nippon Mining & Metals Corporation, has acquired…» Decron Acquires Ascent […]
Commercial Real Estate & Business News – April 4, 2022
Barclays: Office Demand Could Drop By 20% Amid Hybrid Work Global office demand could drop by between 10 and 20 percent in the long run as companies continue to grapple with the implications of hybrid work, Barclays analyst Lea Overby told CNBC this week. The sector has held up so well (relatively speaking) thus far…» […]
Commercial Real Estate & Business News – April 1, 2022
Why Rising Interest Rates Won’t Lead to Cap Rate Change With both inflation and interest rates rising, following the first Federal Reserve rate hike in three years, many people have no living memory of what can happen—for example, the double-digit rate mortgages that the 1980s saw. For CRE professionals, the question…» Slower Start, but Sunny […]
Commercial Real Estate & Business News – March 31, 2022
Phoenix Ranks No. 3 in U.S. for Data Center Leasing Activity Driven by demand from large cloud service providers, data center leasing activity in Phoenix set new records in 2021, according to a new report from CBRE. Phoenix had 29.8 megawatts (MW) of net absorption in 2021, which was…» Can the Office Market Survive the […]
Commercial Real Estate & Business News – March 30, 2022
Luxury Developer Optima Proposes $1B Residential Project in North Scottsdale Scottsdale-based Optima Inc. is planning a $1 billion luxury residential community in north Scottsdale with 1,500 units — the largest of its projects to date. The luxury developer has submitted its pre-application with the city of Scottsdale to begin the approval process…» Why Industrial’s Trajectory […]