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Commercial Real Estate & Business News – August 17, 2021

Malls “have essentially fully recovered” to post-pandemic levels, according to a new analysis of the top performing indoor and outdoor shopping centers across the US.Outdoor shopping centers posted a 2.1% increase in monthly visits in July as compared to the same period in…»
Leading multifamily developer Optima announced today that the latest tower within its $500 million Optima Kierland development, 7180 Optima Kierland, has sold all 205 luxury condominiums.Since sales for the tower began in January 2019, the community has been selling at a rate of 6.7 homes per…»
On behalf of Baker Development Corporation (BDC), the Phoenix office of JLL has completed an 81-acre land acquisition for the development of a $150 million industrial park. Named Cactus 303, the project is poised to create hundreds of jobs within a Loop 303-fronting location in…»
A drop in lumber prices has invigorated demand for commercial building projects, especially for multifamily product, Sherwood Lumber chief operating officer Kyle Little told CNBC last week. A drastic runup in lumber prices earlier this year created a challenging environment for builders, but the…»
An investment fund created by HGTV star Tarek El Moussa and Scottsdale, Arizona-based Hanson Capital Group has acquired a 45-unit apartment complex in central Phoenix. The fund purchased Element on 38th at 2931 N. 38th St. for $5.8 million, or $128,889 per unit,…»