Commercial Real Estate & Business News August 22, 2019
Service Retail Takes Off in Phoenix Service-driven retail is taking off in Phoenix. While the big box market is struggling, service- and entertainment-driven retail concepts are experiencing roaring success. The Block at Pima Center, a new retail development in Scottsdale, is a perfect example of the leasing activity. The first phase of the project was fully […]
Commercial Real Estate & Business News August 21, 2019
Nike Pays Nearly $70M for Facility on Metro Phoenix’s West Side, Records Show Nike paid nearly $70 million for a facility on metro Phoenix’s west side near the Phoenix Goodyear Airport, where other high-profile businesses are setting up shop, records show. Goodyear in July gave the athletic apparel giant the OK to bring its third U.S. […]
Commercial Real Estate & Business News August 20, 2019
Mesa Offices Near Chicago Cubs Spring Training Site Sell for Record $107.6M An office campus in Mesa’s Riverview District has sold for $107.6 million, making it the priciest overall office sale in metro Phoenix so far this year. Waypoint’s four buildings, with almost 500,000 square feet of space, are home to tenants Cognizant, Mitel, Ashton Woods, […]
Commercial Real Estate & Business News August 19, 2019
Strong Apartment Performance and Low Interest Rates Draw Buyers to Phoenix Corporate expansions continue to drive in-migration as companies and job seekers seek refuge from the high costs found in other major metros. Allstate Insurance is building a new corporate campus that will provide employment for approximately 2,500 people. Other companies like Voya Financial and Nationwide […]
Commercial Real Estate & Business News August 16, 2019
Celebrity Chef Giada de Laurentiis Opening Two Restaurants at Caesar’s Republic Scottsdale Hotel Arizona is no stranger to having celebrity chefs in the kitchen nor having our restaurants and chefs placed in the national spotlight on TV shows like “Diners, Drive-Ins and Dives,” “Chopped,” “Man vs. Food,” and “Beat Bobby Flay,” among others. Scott Conant, who […]
Commercial Real Estate & Business News August 15, 2019
U.S. Office Vacancy Lowest in 18 Years, Despite Lots of New Construction The U.S office market continued to experience accelerated growth in the second quarter, with 17.1 million sq. ft. absorbed, bringing the year-to-date total to 66.5 million sq. ft. Vacancy dropped to 12.2 percent nationally-the lowest level in 18 years, according to a second quarter […]