Commercial Real Estate & Business News – February 1, 2021

In 2020, the US recorded a record number of big-box industrial transactions, and the West Coast was a central region of the activity, according to new research from CBRE. The Inland Empire and Phoenix both made the list as top markets for major industrial deals, defined as deals over 1 million square feet…»

Despite significant efforts, the affordable housing crisis in the U.S. continued to deepen last year. Nationwide, there’s a shortage of more than 7 million affordable homes for the country’s more than 11 million extremely low-income families, according to the National Low-Income Housing Coalition..»

Phoenix-Mesa Gateway Airport officials hope to further expand growth beyond aeronautics and create a job and shopping hub that would benefit residents in some of the large nearby neighborhoods, such as Eastmark and Cadence. Airport officials are seeking a master developer to partner in building office…»

A 30-acre canyon tucked away in the middle of the Phoenix Mountain Preserve will be home to 12 new mansions with prices starting at $9 million. BedBrock Developers is breaking ground for the first home within the new exclusive community being called Crown Canyon near 40th Street and Lincoln Drive…»

The housing market is looking extremely strong for the Phoenix area in 2021. Realtor.com’s most recent forecast predicts home sales in the Valley will jump 11.4% over last year’s levels, which is more than the national average. The combination of beautiful weather, prestigious restaurants and shopping…»