Commercial Real Estate & Business News – August 29, 2022

One of the country’s leading developers of Net Zero communities, MODUS Companies, has just closed on 39 acres in Casa Grande, Arizona. While the city currently only has a population of 57,000+ residents, it is quickly becoming one of…»

Atlanta-based Hatteras Sky has broken ground on a 23-story high-rise apartment tower in downtown Phoenix.With a total development cost of $184 million, the project will include 389 apartment units and 12,550 square feet of street-level retail, including the…»

Private-equity giant KKR & Co. paid just under $92 million for a nearly completed speculative two-building industrial in the fast-growing Phoenix suburb of Avondale.KKR bought the buildings totaling about 633,000 square feet from the…»

Multifamily developer Wood Partners has opened Alta Warehouse District in downtown Phoenix. As the developer’s third project downtown, the 300-unit community is industrial and edgy, appealing to professionals and nearby…»

Driven by migration away from expensive city centers during the pandemic, the rental price advantage of living in the suburbs (vs. urban areas) has shrunk by 52.9% compared to three years ago, according to the…»