Commercial Real Estate & Business News August 21, 2019

Nike Pays Nearly $70M for Facility on Metro Phoenix’s West Side, Records Show Nike paid nearly $70 million for a facility on metro Phoenix’s west side near the Phoenix Goodyear Airport, where other high-profile businesses are setting up shop, records show. Goodyear in July gave the athletic apparel giant the OK to bring its third U.S. manufacturing facility to the West Valley. It’s expected to create more than…»
Metro Phoenix’s West Side to Land 300 New Distribution Jobs by End of Next Year
Metro Phoenix’s west side will land 300 new distribution jobs by the end of next year as Chino, California-based Quetico sets up shop in Goodyear. The retail distribution and logistics company on Friday purchased nearly 40 acres of land off 143rd Avenue and Yuma Road, near the Phoenix Goodyear Airport. “Quality companies like…»
Despite the Summer Slowdown, Phoenix Remains a Top Market for Employment Growth
Phoenix slipped in the July employment rankings, placing fifth among all major U.S. metropolitan areas for job growth. Metro area employment expanded 2.9% over the past 12 months ending in July, with the addition of 60,500 jobs. Momentum slowed from the 3.1% growth, that netted the metro area second place for…»
Joint Venture to Build Three Affordable Apartment Projects in Downtown Phoenix
Two investors are stepping into the hot market for Phoenix apartments to mine a downtown affordable housing niche that has been largely bypassed during the luxury apartment gold rush. Alternative investment firm Defer Gain and Los Angeles-based Pacific Oak Capital Advisors, a firm formed by cofounders of real estate…»
Tucson Ranked As the Top City for Emerging Tech Companies
Step aside, Silicon Valley; there’s a new tech hub in the desert. Commercial real estate firm CBRE recently released its 2019 Scoring Tech Talent report, which highlights Tucson at the top of “The Next 25 Markets” where tech companies are seeking operational opportunities. Over the past five years, the Southern Arizona city has…»