Commercial Real Estate & Business News August 22, 2019

Service Retail Takes Off in Phoenix Service-driven retail is taking off in Phoenix. While the big box market is struggling, service- and entertainment-driven retail concepts are experiencing roaring success. The Block at Pima Center, a new retail development in Scottsdale, is a perfect example of the leasing activity. The first phase of the project was fully leased before…»
How Phoenix Compares On Cost of Living With Biggest US Cities
Phoenix has a reputation for being more affordable than other big cities in the country, but it comes in around the middle of the pack among the top 75 cities in the U.S., according to a recent cost of living analysis. recently analyzed data from the 75 largest cities in the U.S. to see which had the most affordable cost of living…»
Waypoint Sells for $107.6M in Year’s Biggest Deal
CBRE announced the sale of Waypoint, a 426,951-square-foot Class A suburban office property in Mesa, Ariz. for $107.6 million. The buyer was an affiliate of New York-based Innovatus Capital Partners, LLC. Barry Gabel, Chris Marchildon and Will Mast of CBRE in Phoenix represented the sellers and building developers, Scottsdale,…»
Industrial Development in Phoenix Ramps Up in the Second Quarter
Industrial construction in the Phoenix metropolitan area accelerated in the second quarter, as developers broke ground on more than 3.3 million square feet of space, nearly double the market’s historical average for quarterly construction starts. Developers are keeping up with robust demand for space, fueled by e-commerce and…»
Optima Surpasses 300 Homes Sold at Optima Kierland Center
Award-winning real estate development firm, Optima, announced today it has surpassed the 300th sale milestone at Optima Kierland Center in Scottsdale and leads the market for sales velocity by nearly 14 times the Phoenix-metro average when compared to other new condominium developments across the Valley. According to a July 2019 market study by…»