Commercial Real Estate & Business News – February 12, 2024

The Costco Effect

In the past two years, the Valley employees of real estate firm Vestar have been dedicated to planning and leasing Verrado Marketplace, a $125 million power retail center that’s slated for 500,000 square feet of new commercial space west of Phoenix. Developing and securing…»

West Valley Economic Leaders Align on Development Potential of Key Highway Corridor

As land around the major freeways in the West Valley continues to be built out, city leaders have already started looking ahead to the next wave of growth. It’s known as State Route 30. The proposed 29-mile Tres Rios Freeway is set to be a transformational link and economic…»

$60M Thunderbird Commerce Park Breaks Ground in Scottsdale Airpark

Creation, one of the country’s leading commercial real estate developers, broke ground yesterday on Thunderbird Commerce Park, a $60 million industrial center set on a rare 18-acre parcel within Scottsdale Airpark. The developer commemorated the milestone by hosting a…»

Another Firm Says Now Is the Time to Invest In CRE

BlackRock is not the only firm that declares now is the ideal time to invest in CRE. Things have been bad for investors, but they’re on the way to get better, says DoubleLine, in another sign that a degree of optimism is returning to the markets. In a new report, the firm…»

Former CEO Adam Neumann Offers To Buy WeWork Out of Bankruptcy

Years after his dramatic ouster, WeWork co-founder Adam Neumann is looking to boomerang back with a potential bid to buy the flexible workspace provider out of bankruptcy. In a letter to WeWork’s legal advisers, the former CEO’s new real estate startup, Flow, revealed an interest in…»