Commercial Real Estate & Business News September 25, 2018
Phoenix Takes Steps Toward a More Pedestrian-friendly Downtown The city is making strides toward a more pedestrian-friendly downtown in a move to build community and boost business. Phoenix this summer opened a “more walkable” area along First Street just south of Roosevelt Street, where workers widened sidewalks, planted 125 shade trees and narrowed First Street […]
Commercial Real Estate & Business News September 24, 2018
Phoenix, a Big Beneficiary of Data Center Surge Data center activity is surging across the country, and-like other West Coast markets-Phoenix is benefiting from the growth. The market had 32.5 megawatts of net absorption in the first half of 2018, making it the second market in the country to Northern Virginia for data center activity, […]
Commercial Real Estate & Business News September 21, 2018
Phoenix GDP Growth Shows Expanding, Diversifying Economy The Phoenix metropolitan area’s gross domestic product grew 3.4 percent during 2017, ranking the area 55th out of 387 areas studied for growth in the year. The GDP of the area has grown consistently since 2013, and experienced a 2.3 percent increase in 2016, according to data from […]
Commercial Real Estate & Business News September 20, 2018
Is Adaptive Reuse the New Normal? Adaptive reuse can be an attractive consideration in the ever-changing commercial real estate environment for a number of reasons: rotating market demands in sectors such as retail, interactive office, health care and life sciences; changing demographics like a dearth of office tenants and increasing residential demand; or a desire […]
Commercial Real Estate & Business News September 19, 2018
South Scottsdale, Salt River Community Gain Steam for Commercial Development As SkySong, the Arizona State University Scottsdale Innovation Center, continues to redevelop the former Los Arcos Mall site, city and business leaders are looking at the project as a catalyst to breathe new life into the rest of south Scottsdale. Some housing experts already called […]
Commercial Real Estate & Business News September 18, 2018
The Retail Market in Phoenix is Bouncing Back in 2018 Retail rent growth is slowing nationwide this year, but it is accelerating throughout Arizona’s Valley of the Sun. As the third quarter draws to a close, the average retail rent in Phoenix has grown by more than 4 percent year-over-year. The market’s resurgence has led […]