Commercial Real Estate & Business News – December 8, 2020

Smaller Industrial Tenants Are Having an Outsized Impact in Phoenix
While it is typically the larger, 300,000-square-foot-plus industrial leases that capture headlines, smaller tenants have been accounting for an outsized share of Phoenix’s leasing volume. Industrial leasing in Phoenix accelerated in the second half of 2020…»
Apartment Developers Pivot to the Suburbs
Apartment developers are taking notice of the movement of people from urban areas to the suburbs. Steve Hallsey, executive vice president of operations for Wood Residential Service, says the pandemic has changed how the company works with residents to understand what they want…»
CRE Prices Are Getting Closer to Pre-Covid Levels
Commercial property prices continue to inch up. In November, The Green Street Commercial Property Price Index increased by 1.8%. Right now, the property index is 8% below pre-pandemic levels. It is 8.2% below November 2019 levels. Green Street said the price increases were widespread…»
Deals for 2 Game-changing Projects Could Redefine Both Sides of Valley
Just a week apart in late September, a pair of groundbreaking sports, recreation and entertainment projects were announced on opposite sides of the Valley. In the West Valley, Glendale was chosen as the site for a one-of-a-kind attraction, as Crystal Lagoons released its plans for an island resort…»
Restaurant Industry in ‘Free Fall’ as 10,000 Close in 3 Months
Today, the National Restaurant Association sent a letter to Congressional leadership, sharing new survey findings that illustrate continued business deterioration across the restaurant industry and offering support for the moderate compromise proposal as a ‘down payment’ toward…»