Commercial Real Estate & Business News – April 25, 2022

The retail sector continued its positive momentum in the first quarter as retail sales have accelerated briskly since mid-2020, thanks to the significant increase in disposable income resulting from pandemic-related government transfers and strong wage gains…»
Some 941,913 square feet of office space traded across Greater Phoenix in February, according to CommercialEdge. The value indicates a 62.8 percent increase month-over-month, as January’s transactions totaled 578,713 square feet…»
Once again, Arizona’s shortage of affordable housing ranks among the most severe in the nation. The National Low Income Housing Coalition’s annual analysis of affordable rental homes shows for every 100 extremely low income renters in…»
When Los Arcos Mall opened more than 50 years ago in Scottsdale, it was one of the Valley’s few indoor shopping centers. The behemoth structure, anchored by Sears and Broadway when it first opened in 1969, quickly became a…»
Total construction starts fell 12% in March to a seasonally adjusted annual rate of $903.8 billion, according to Dodge Construction Network. Nonresidential building starts lost 29%, in part due to the start of three large manufacturing facilities in the…»