Commercial Real Estate & Business News – August 24, 2021

The pandemic has upended commercial real estate markets and created widespread uncertainty about when employees will return to the office. And yet, commercial real estate executives have never been more bullish about current market conditions since the Real Estate Roundtable began gauging…»
A strong and widespread recovery of rents has pushed prices beyond where they would have been had the coronavirus pandemic never occurred, according to Zillow’s latest market report. The report shows Phoenix leads the nation in annual rent growth at 23.1%, and is No. 2 in home value growth with 29.8%, behind only…»
Phoenix’s office vacancy slightly improved in July, according to CommercialEdge data. The average rate dropped to 17.7 percent, a 30-basis-point decrease when compared to June and a 70-basis-point drop year-over-year. However, the value continued to remain higher than the national rate of...»
Phoenix-based RVG Partners — with former Phoenix Suns player Joel Kramer serving as managing partner — is planning a 930-acre master-planned community that will feature a 65-acre regional medical center campus.Total development costs of the project are expected to be more than $200 million, said…»
Metro Phoenix home prices and rents keep climbing, and here’s a big reason why.Phoenix drew a higher percentage of new residents than any other major U.S. city between 2010 and 2020, according to the latest census data released last week.And West Valley suburb Buckeye grew more swiftly than…»