Commercial Real Estate & Business News – August 12, 2021

According to a new report from RealPage, the leading provider of software and data analytics to the real estate industry, effective asking rents in Phoenix grew 3.4 percent in July, the second largest monthly hike in the nation. That big Phoenix apartment rent monthly increase took rents up 21.6 percent year-over-year, the largest…»

Phoenix has always been known as a small business powerhouse. Apparently the smallest of the small are becoming a big economic engine for the region.In Phoenix, the number of so-called microbusinesses grew 65% from the first quarter of 2020 to the first quarter of 2021, the 10th largest gain in the country, according to the…»

Cresset Real Estate Partners and Clarius Partners have closed on the land acquisition for 303 Crossroads, a 1,758,410 square foot logistics development in Glendale, Arizona.The project will consist of two buildings to be built across two phases on land fronting Loop 303 and Northern Parkway in Glendale. Building one will be…»

From getting back on track at the end of 2020 to strong growth in 2021, according to the National Multifamily Housing Council, the ability to raise rents has been on a recent tear in multifamily.But how long can that keep going?Several factors have supported the rise. One is historically high costs of…»

FanDuel’s downtown Phoenix sportsbook at Footprint Center, home of the Phoenix Suns and Mercury, will be ready for gamblers on Sept. 9, according to the company that is scrambling to finish construction and licensing by the kick off date.Sports betting was…»