Commercial Real Estate & Business News – February 10, 2021

Green Street has encapsulated two major trends driving the office sector right now to provide a tangible (and grim) number for office demand post-COVID: -15%.COVID-19 has wrought a slew of changes to the sector, with social distancing stabilizing densification, or less square feet per worker, a trend…»

Nonprofit Banner Health is investing nearly $400 million in expansion projects already underway at Banner Desert and Banner Gateway medical centers in the East Valley. Both projects include increased services and space for women and infant care. On the Banner Desert campus in Mesa, the expansion…»

The technology sector of metro Phoenix could get a major boost if Samsung Electronics decides to locate a $17 billion semiconductor plant here. The South Korean maker of cellphones, computers, televisions, appliances and more is considering sites in the Valley as well as Texas, upstate New York…»

Discount grocery chain Aldi is set to open its fourth Valley location on Feb. 15. The company, which opened its first locations in Phoenix in November 2020, is slated to open a new store in Gilbert at 1801 Pecos Road next week, Aldi announced Tuesday. Aldi initially announced that this store would open…»

Multifamily fundamentals are expected to stabilize as soon as the second quarter of this year, according to new research from CBRE. In a new report, the firm says it expects “steady market recovery” through the second half of 2021. Net absorption for multifamily during the fourth quarter of 2020 totaled…»