Commercial Real Estate & Business News – August 24, 2017

Builders started 16,663 homes between the end of 2Q16 and 2Q17, of which 4,632 started in the second quarter. That was the highest number of quarterly starts since 3Q07, or almost 10 years – and a jump of 15.7% over the same quarter a year ago, and 17.2% over 1Q17…»

The Greater Phoenix housing market has been improving at a healthy pace with single-family home construction gaining momentum and prices for new homes trending higher. Permitting for single-family units rose during the first six months of 2017, while multifamily housing development slowed. Approximately 22,000 single-family permits are forecast to be issued in 2017 and approximately 7,000 multifamily permits are expected…»

New data indicate that apartment rents in Mesa are rising faster than rents in any other Arizona city, though it still remains one of the East Valley’s most affordable communities for renters. The median apartment rent in Mesa has risen 6.4 percent in the last year, according to Apartment List’s August 2017 Mesa Rent Report…»

Macerich, a California-based developer of retail commercial space, is seeking approval from municipal leaders to expand the mall along Hyland Avenue by amending the zoning restrictions on the 56-acre site and increasing building heights up to 150 feet…»

The Offices at Chandler Viridian will be a 250K SF office building at the intersection of Loop 101 and Loop 202, near the Chandler Fashion Center. The building will feature 41K SF floor plates, energy-efficient glass to allow for natural light and access to a three-story parking garage…»