Commercial Real Estate & Business News – April 26, 2021

The office market is showing renewed signs of life as firms evaluate and implement return-to-work strategies, with average leasing rates inching up 1.4% year-over-year to an average of $38.67 per square foot. Manhattan remained the priciest market nationwide, with…»
Wood Partners, a national leader in multi-family real estate development and acquisition, recently closed on a new property located in the heart of the 650-acre master-planned community of Cooley Station in Gilbert, Arizona. Once complete, the new community – Alta Cooley…»
When a pair of homebuilders plopped down $245.5 million as the winning bidder for 2,783 acres of state land in November, the stage was set for the development of yet another chunk of the far East Valley. That’s because the Arizona State Land Department crafted…»
Phoenix employment continued to grow in March, but not at the same pace that the market recorded a few months ago. According to the latest preliminary data from the U.S. Bureau of Labor Statistics, the metropolitan area added 9,700 jobs in March, growing 0.5%…»
The median price for a new home in the Phoenix metropolitan area has surpassed $400,000, according to new data from real estate research firm Zonda. Steven Hensley, advisory manager with Zonda, said the median new home prices in metro Phoenix stand at…»