Commercial Real Estate & Business News – August 15, 2023

Welcome to America’s new boom towns — cities across the U.S. and Texas that are estimated to experience unparalleled growth by the year 2100. From the Phoenix metro area to the Texas cities, these cities have seen influxes of people looking to call these boom towns home. But with…»

Activity in the downtown Phoenix area hasn’t fully recovered since before the Covid-19 pandemic but is performing better than most large cities across North America, according to recent data from the University of Toronto. Phoenix ranked No. 21 out of 63 downtowns measured,…»

The median U.S. asking rent in July is only $16 below the record high set in August 2022, according to Redfin, with the average rent being $2,038. It noted that while rent gains cooled over the past year “big bargains are still often hard to come by given rents are near record…»

Lincoln Property Company’s Southwest division, LPC Desert West (LPC), has completed the $26.5 million sale of Gainey Center, a three-story, Class A office building offering 500 square feet of frontage along the prestigious Scottsdale Road Corridor in Scottsdale, Arizona. The buyer was…»

Blossom Rock at Superstition Vistas unveils The First Builders For Its Majestic New East Valley Community – The Phase One Builders include Lennar Homes, David Weekley Homes, Pulte Homes, Tri Pointe Homes, and Brookfield Residential. Scottsdale-based Brookfield Residential announced five of the…»