Commercial Real Estate & Business News – August 20, 2020

Amazon Confirms 11 New Metro Phoenix Sites Opening This Year
Amazon.Com Inc. confirmed Wednesday that it plans to open 11 new sites in the Valley by the end of the year for fulfillment and delivery operations. The new sites include seven delivery stations and two additional facilities to support fulfillment, in Avondale, Chandler, Goodyear, Mesa…»

Arcadia Retail Center Sold at List Price $6.1M with Multiple Offers
The Shops at 38th Street, a fully-occupied Arcadia Shopping Center,  was sold this week for $6,100,000 or $265 per square foot. Nick Miner, CCIM of ORION Investment Real Estate represented the Seller Richard Oliver, who he also helped acquire the same…»

Project Aims to Make Mesa ‘Surf City’
A developer already has “Surf Mesa” tee-shirts printed, hoping that his proposed two-acre “surf lagoon” turns into a regional attraction near Phoenix Mesa Gateway Airport. But while the lagoon is the centerpiece of Cannon Beach, it also includes 475,000 square feet of commercial…»

Developer to Build Large Speculative Warehouse in Glendale, Arizona
VanTrust Real Estate intends to break ground on a distribution building along the Loop 303 corridor in Glendale, Arizona, adding to its list of major projects underway in the state. The development company, based in Kansas City, Missouri, paid $14 million to buy the 76.4 acres…»

Dozens of Arizona Bars, Gyms Cleared by State to Reopen
The Arizona Department of Health Services has given the OK for dozens of gyms, bars and theaters to reopen after reviewing their plans to limit the spread of COVID-19 at their businesses. The green light was given to two movie theaters, 31 fitness centers and five bars…»