Commercial Real Estate & Business News – April 9, 2021

Phoenix-based developer George Oliver has announced plans for its next Arizona experiential office transformation: the five-building Hayden Station mixed-use office campus, located on the southwest corner of Mill Avenue and Third Street in the heart of downtown Tempe. Built in 1986, Hayden Station has,…»
Sunny. Sprawling. Rugged. Many words come to mind to describe the Phoenix metropolitan area. “Fragile” often isn’t one of them. But a decade ago, the Valley was the poster child for an easily upended economy. Between 2000 and 2007, the area’s economy boomed. Housing prices doubled. Unemployment dropped…»
Micro-fulfillment centers and automation will be critical for grocery chains to meet still-burgeoning demand for online orders and deliveries quickly and efficiently, according to a new report on the sector from JLL. “Micro-fulfillment centers (also known as MFCs) aren’t new, but they are a growing solution for…»
New York-based investment firm KKR Co. bought a five-building industrial portfolio in Phoenix from Lincoln Property Co. for $68 million. The buildings, at 4441 W. Polk St., 120 E. Watkins St., 4720 W. Van Buren St. and 5240 and 5302 W. Buckeye Road, are all in infill sites and are fully leased to 14…»
Phoenix has grown into an attractive alternative to the neighboring, pricier cities for many companies thanks to its business-friendly environment and plenty of space available for development. Almost 1.5 million square feet of new office space—across eight projects—came online in the first quarter of 2021,…»