Commercial Real Estate & Business News – February 14, 2022

Phoenix added 122,700 jobs over the course of 2021, according to the most recent data from the Bureau of Labor Statistics. Professional and business services was the largest contributor, with the sector growing by more than 30,000 jobs. As travel and tourism…»
In the past 18 months, north Phoenix has become one of the most active commercial areas in the Valley, driven by the $12 billion first phase of the Taiwan Semiconductor Manufacturing Co. facility under construction In 2019, there were about…»
Driftwood Capital, a vertically integrated commercial real estate firm providing superior risk-adjusted returns in hospitality, announced that it has acquired The Scottsdale Resort at McCormick Ranch, a sprawling, hacienda-style resort with 326 guest rooms located…»
Inflation is up. Interest rates are still low. How long? Who knows? While consensus says 2022 will shape up to be another generally good one for commercial real estate, developing financial realities are a potential detour. And this type of uncertainty is the…»
Mortenson, in partnership with the City of Tempe, Urban Development Partners, PGIM Real Estate, among others celebrated the topping out of The Beam on Farmer today. The five-story, 184,000-square-foot office building, located in the heart of downtown Tempe, is…»