Commercial Real Estate & Business News – August 31, 2017

One month after Scottsdale Fashion Square unveiled plans for a 12-phase renovation and expansion that would affect every square foot of the mall, the Scottsdale City Council voted to let property owners build 150-foot towers on the north end of the property…» will land a 819,000-square-foot distribution center along Interstate 10 in Goodyear on a 48.8-acre parcel. The Chewy center could employ as many as 750 workers, according to BREW. Goodyear is already home to a number of big distribution centers including Inc. (Nasdaq: AMZN) and Macy’s (NYSE: M), German grocer Aldi and United Parcel Service (NYSE: UPS) are also planning big centers in Goodyear…»

The Phoenix area has added 91,400 private-sector jobs during the past 10 years, outpacing the growth rates of a quarter of the nation’s major markets, according to a federal report issued this morning…»

About 75 percent of the Arizona contractors polled say they are having a “hard time” filling hourly construction jobs. That’s slightly higher than the 70 percent of U.S. contractors acknowledging the same problem, said Stephen Sandherr, chief executive officer for the contractor trade group…»

Modern Residential and Henley USA have acquired the 265-unit Sonoma Villas in Mesa and the 216-unit Sonoma Pines in Peoria. Modern Residential and Henley USA have acquired Sonoma Pines in Peoria, Ariz., and Sonoma Villas in Mesa, Ariz., and named Sunrise Management as the new manager for both…»