Commercial Real Estate & Business News – August 19, 2022

Phoenix Will Drive Industrial Growth Even as US Development Slows Down, Experts Say

Growth of the Phoenix industrial market will continue to surge despite inflation and an expected national slowdown in consumer demand, experts say. The Phoenix metro is currently one of only five markets across the country that has more than…»

California Pension Fund Makes Big Bet on Phoenix Region With Industrial Purchase


A California pension fund’s approximately $187 million purchase of a Mesa, Arizona, industrial building leased to Amazon underscores escalating warehouse demand in the Phoenix region, among the nation’s most active for industrial leasing and development…»

NRF: Consumers Keep Shopping Despite Inflation

Retail sales grew in July, supported by moderate improvements in ongoing inflation.Consumers kept shopping in July. Retail sales in July edged up 0.8% from June 2022 and were up 7.1% unadjusted year-over-year, according to the…»

CRE Mortgage Loan Volume Rose 19% Y-O-Y in Q2; Slowdown Expected Later in 2022

Commercial and multifamily mortgage loan originations increased 19% year-over-year in the second quarter of 2022, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. A rise in…»

Phoenix ‘Green’ Developer Buys Casa Grande Land to Build 470 Net-Zero Energy Homes

Phoenix-based Modus Cos. — known for building communities that focus on saving energy to curb greenhouse gas emissions — just closed on 39 acres in Casa Grande, with plans to build 470 build-to-rent homes. With major employers such as Nikola, Lucid and Kohler bringing more than…»