Commercial Real Estate & Business News – January 25, 2022
$1.8B Mixed-Use Project Coming to Suburban Phoenix Local officials in Tempe, Ariz., are paving the way for a major mixed-use destination, South Pier at Tempe Town Lake, to take shape in the suburban Phoenix city at a cost of $1.8 billion. The Tempe City Council introduced the project and held the first public hearing on […]
Commercial Real Estate & Business News – January 24, 2022
Prologis Tackles $26 Billion Development Pipeline as Demand and Leasing Reach Record Highs The world’s largest industrial developer and landlord is gearing up for what it expects to be another record-breaking year of demand as it begins chipping away at a $26 billion global construction pipeline. Prologis, the San Francisco-based real estate investment trust, is […]
Commercial Real Estate & Business News – January 21, 2022
Foreign Investors Bought $1.2B in Valley Office Properties in Last 3 Years Over the past three years, the Phoenix metro saw about $1.16 billion worth of foreign investment in office properties, showing a major increase in interest from international buyers in the Phoenix market. The $1.16 billion spent from foreign investors from 2019 to 2021 […]
Commercial Real Estate & Business News – January 20, 2022
ICSC: Consumer Holiday Spending on Goods, Services in Big YOY Increases Holiday 2021 was one for the record books despite slower December sales.Sales grew 17% year-over-year in November and December, according to ICSC’s 2021 Post-Holiday Survey. (The ICSC includes restaurant sales in its total.) Consumers spent an average of $1,011 during the holiday season. Fifty-percent […]
Commercial Real Estate & Business News – January 19, 2022
Housing Affordability, Fate of Office Work are Key Valley Issues, Experts Say Housing affordability, the fate of office work and the demand for industrial space in Phoenix were among the themes covered during the IREM CCIM Economic Forecast held Friday morning. Robert Hicks, executive vice president for Portico Property Group, said the Valley is expected […]
Commercial Real Estate & Business News – January 14, 2022
Why Lumber Prices Have Nearly Tripled Again Since Cratering a Few Months Ago Simple economics popped the lumber bubble last year. Once the price of lumber topped $1,515 per thousand board feet in the spring, do-it-yourselfers en masse stopped buying. At the same time, sawmills trying to cash in on the sky-high prices increased production, […]