Commercial Real Estate & Business News – August 26, 2020

Home Price Index Hits New High in June; Phoenix Growth Still off the Charts
Once again, Phoenix is No. 1 in the nation in home price growth, with year-over-year price increases of 9% in June, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. Phoenix price growth far outdistances the next two major metros: Seattle, with 6.5%…»
The K-Shaped US Economic Recovery Theory and What It Means for CRE
An uneven economic recovery from the COVID-19 crash is increasing the divide between the haves and have-nots, and the rift will extend to the commercial real estate market, according to a new report. The report explores how some economists’ theory that the country will see a “K-shaped” economic…»
Jewish Center Planning Senior Living Facility
A popular Scottsdale Jewish community center has filed paperwork with the city to add an on-site senior living facility to its campus. The Valley of the Sun Jewish Community Center filed applications with the city on Aug. 5 for zoning and text amendments needed to pave the way for the 185-room facility…»
Amazon Claims 95K SF at Cousins’ 100 Mill Development in Downtown Tempe
Cousins Properties signed a roughly 95,000-square-foot lease with Amazon at 100 Mill, a 287,000-square-foot office development in downtown Tempe. The e-commerce giant will use the space at the 18-story tower for its Phoenix Tech Hub expansion. The $153-million development is expected…»
Bright Health Plan to Open Contact Center in Tempe
Minneapolis-based health insurance company Bright Health Plan is planning to open a contact center in Tempe, Arizona, that’s set to bring up to 75 jobs in the area. Bright Health is subleasing a 28,000-square-foot space from Varsity Tutor at Rio 2100, a 100,102-square-foot…»