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Commercial Real Estate & Business News – August 2, 2021

While Phoenix employment typically contracts during the summer months, payrolls in the market expanded by 5,200 jobs, according to the latest data from the Bureau of Labor Statistics. The monthly job gain is up from the 2,400 jobs that were added in May, but June’s growth is down from more-impressive gains…»
The worst may actually be behind us for lumber prices, CoreLogic Construction Expert Glenn Bearden said in a recent company podcast.US lumber prices were up 54% year over year as of the second quarter, but Bearden asserted the market forces and human element that combined for a…»
MLILY, the retail brand of Healthcare Arizona LLC, a venture of China-based Healthcare Co., Ltd., has signed a lease for 1,253,382 square feet of industrial space at the Glendale 303 “G303” project. The industrial park is situated in Glendale, AZ along the booming Loop 303 corridor and being developed by …»
Phoenix investors had a significant impact on the housing market in April, taking away 429 units of inventory. Nationally, investors took more inventory off the market than they contributed in April; with their purchases representing 5.7% of all home sales. Despite the common perception that…»
Phoenix-based GO Industrial bought its first parcel of land in the Valley and is planning a 1.2-million-square-foot industrial project. The firm closed on 77 acres at the southeast corner 99th Avenue and Buckeye Road, south of I-10, for $23.55 million, according to real estate database Vizzda. The project, called...»